Vijay Ltd. Was registered with an authorized capital of 15,00,000 divided into 1,50,000 equity shares of 10 each.


 1. Vijay Ltd. Was registered with an authorized capital of 15,00,000 divided into 1,50,000 equity shares of 10 each. 

Company issued 1,00,000 equity shares of 10 each at premium of 2 per share. Company received application for 80,000 equity shares and were allotted the shares. 
Company received application money 3 per share, allotment money 4 per share  
(Including premium) and first call money 3 per share. 
The Directors have not made final call of 2 per share. All money were received except one shareholder holding 500 shares did not pay first call. 


Show Authorized Capital, Issued Capital, Subscribed Capital, Called-up Capital, Paid-up Capital, Calls in Arrears and Share Premium amount in company balance sheet. 


Solution: 
In the Books of Vijay Ltd.  

 

Cr.   Balance Sheet as on ….. Dr. 

Liabilities 

Amount 

Amount 

Assets 

Amount 

Amount 

Authorized Capital: 

 

 

 

 

 

1,50,000 equity share of 10 each 

 

15,00,000 

Cash at bank 

 

7,98,500 

 

 

 

 

 

 

Issued Capital: 

 

 

 

 

 

1,00,000 equity shares of 10 each 

 

10,00,000 

 

 

 

 

 

 

 

 

 

Subscribed Capital: 

 

 

 

 

 

80,000 equity shares of 10 each 

 

8,00,000 

 

 

 

 

 

 

 

 

 


80,000 equity shares 8 each 

 

6,40,000 

 

 

 

 

 

 

 

 

 

Paid-up Share Capital 

 

 

 

 

 

80,000 equity shares at 8 per share 

6,40,000 

 

 

 

 

(-) Calls in Arrears (500 shares at 3 per share) 

1,500 

6,38,500 

 

 

 

 

 

 

 

 

 

Share Premium/Securities A/c (80,000 shares at 2 per share) 

 

1,60,000 

 

 

 

 

 

 

 

 

 

 

 

7,98,500 

 

 

7,98,500 

 

 

 

 

 

 

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