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.

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Solution

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

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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