Question

Authorized capital of Suhani Ltd . is ₹ 45,00,000 divided into 30,000 shares of ₹ 150 each . Out of these company issued 15,000 shares of ₹ 150 each at a premium of ₹ 10 per share . the amount was payable as follows:
₹ 50 per share on application , ₹ 40 per share on allotment (including premium ), ₹ 30 per share on firs t call and balance on final call . Public applied for 14,000 shares. All the money was duly received .
Prepare an extract of Balance Sheet of Suhani Ltd . as per Schedule III , Part I of the companies Act, 2013 disclosing the above information . Also prepare 'Notes to Accounts ' for the same.

Answer 1

Suhani Ltd.
Balance Sheet
Particulars	Note No.	Amount (Rs)
I. Equity and Liabilities
1. Shareholders’ Funds
a. Share Capital	1	21,00,000
b. Reserves and Surplus	2	1,40,000
2. Non-Current Liabilities
3. Current Liabilities
Total		22,40,000
II. Assets
1. Non-Current Assets
2. Current Assets
a. Cash and Cash Equivalents	3	22,40,000
Total		22,40,000

NOTES TO ACCOUNTS

Note No.	Particulars	Amount (Rs)
1	Share Capital
	Authorised Share Capital
	30,000 shares of Rs 150 each	45,00,000
	Issued Share Capital
	15,000 shares of Rs 150 each	22,50,000
	Subscribed, Called-up and Paid-up Share Capital
	14,000 shares of Rs 150 each	21,00,000
2	Reserves and Surplus
	Securities Premium	1,40,000
3	Cash and Cash Equivalents
	Cash at Bank	22,40,000