Home
Class 12
ACCOUNTS
On 1st April, 2017, Prarthana Ltd. was f...

On 1st April, 2017, Prarthana Ltd. was formed with an authorised capital of Rs. 90,00,000 divided into 90,000 Equity Shares of Rs. 100 each. The company invited applications for 80,000 Equity Shares. The amount was payable as follows:
`{:("On application ",-,"Rs. 30 per share,"),("On allotment",-,"Rs. 40 per share"),("On first and final call",-,"Balance amount".),(,,):}`
Applications for 1,00,000 shares were received. Applications for 20,000 shares were rejected and the application money was refunded. All calls were made. A shareholder holding 600 shares, did not pay the first and final call.
Show 'Share Capital' in the Balance Sheet of the company as per Schedule III, Part I of the Companies Act, 2013 as at 31st March, 2018.

Text Solution

Verified by Experts

Promotional Banner

Topper's Solved these Questions

  • COMPANY ACCOUNTS- ACCOUNTING FOR SHARE CAPITAL

    TS GREWAL|Exercise Example|1 Videos
  • COMPANY ACCOUNTS- ACCOUNTING FOR SHARE CAPITAL

    TS GREWAL|Exercise 8.1|2 Videos
  • COMPANY ACCOUNTS REDEMPTION OF DEBENTURES

    TS GREWAL|Exercise EXERCISE|24 Videos
  • DISSOLUTION OF A PARTNERSHIP FIRM

    TS GREWAL|Exercise Evaluation Questions : Questions with Missing Values|4 Videos