Himmat Ltd has authorised share capital of ₹ 50,00,000 divided into 5,00,000 Equity Shares of ₹ 10 each . It has existing issued and paid up capital of ₹ 5,00,000. It further issued to public 1,50,000 Equity Shares at par for subscription payable as under:

On Application: ₹ 3

On Allotment: ₹ 4 and

On Call: Balance Amount.

The issue was fully subscribed and allotment was made to all the applicants . Call was made during the year and was duly received.
Show share capital of the company in the Balance Sheet of the Company.

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Solution

Balance Sheet of Himmat Ltd.

Particulars

Note No.

Amount

(Rs)

I. Equity and Liabilities

1. Shareholders’ Funds

a. Share Capital

1

20,00,000

Total

20,00,000

II. Assets

2. Current Assets

Cash and Cash Equivalents

2

20,00,000

Total

20,00,000

Notes to Accounts

Particulars

Amount

(Rs)

1. Share Capital

Authorised Share Capital

5,00,000 Equity Shares of Rs 10 each

50,00,000

Issued Share Capital

50,000 Equity Shares of Rs 10 each

5,00,000

1,50,000 Equity Shares of Rs 10 each

15,00,000

20,00,000

Subscribed and Paid-up Share Capital

50,000 Equity Shares of Rs 10 each

5,00,000

1,50,000 Equity Shares of Rs 10 each

15,00,000

20,00,000

2. Cash and Cash Equivalents

Bank

20,00,000

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Balance Sheet of Himmat Ltd.
Particulars	Note No.	Amount (Rs)
I. Equity and Liabilities
1. Shareholders’ Funds
a. Share Capital	1	20,00,000
Total		20,00,000

II. Assets
2. Current Assets
Cash and Cash Equivalents	2	20,00,000
Total		20,00,000

On Application:	₹ 3
On Allotment:	₹ 4 and
On Call:	Balance Amount.

Notes to Accounts
Particulars		Amount (Rs)
1. Share Capital
Authorised Share Capital
5,00,000 Equity Shares of Rs 10 each		50,00,000
Issued Share Capital
50,000 Equity Shares of Rs 10 each	5,00,000
1,50,000 Equity Shares of Rs 10 each	15,00,000	20,00,000
Subscribed and Paid-up Share Capital
50,000 Equity Shares of Rs 10 each	5,00,000
1,50,000 Equity Shares of Rs 10 each	15,00,000	20,00,000

2. Cash and Cash Equivalents
Bank		20,00,000