Question

Gopal Ltd. was registered with an authorised capital of ₹ 50,00,000 divided into Equity Shares of ₹ 100 each . The company offered for public subscription all the shares . Public applied for 45,000 shares and allotment was made to all the applicants. All the calls were made and were duly received except the final call of ₹ 20 per share on 500 shares.
Prepare the Balance Sheet of the company showing the different types of share capital.

Answer 1

Gopal Ltd.
Balance Sheet
Particulars	Note No.	Amount (Rs)
I. Equity and Liabilities
1. Shareholders’ Funds
a. Share Capital	1	44,99,000
2. Non-Current Liabilities
3. Current Liabilities
Total		44,99,000
II. Assets
1. Non-Current Assets
2. Current Assets
a. Cash and Cash Equivalents	2	44,99,000
Total		44,99,000

NOTES TO ACCOUNTS

Note No.	Particulars		Amount (Rs)
1	Share Capital
	Authorised Share Capital
	5,00,000 equity shares of Rs 10 each		50,00,000
	Issued Share Capital
	5,00,000 equity shares of Rs 10 each		50,00,000
	Subscribed, Called-up and Paid-up Share Capital
	4,50,000 equity shares of Rs 10 each	45,00,000
	Less: Calls in Arrears (500 shares × Rs 2)	(1,000)	44,99,000
2	Cash and Cash Equivalents
	Cash at Bank		44,99,000