Question

Nupur Ltd. was registered with an Authorised capital of Rs.20,00,000 divided into 2,00,000 equity share of Rs.10 each. The Co. offered 1,50,000 equity shares for subscription to public and app. were received for 1,40,000 equity shares. The directors called Rs.7 per share upto 31st march and the money called was duly received. Show the Share Capital in B/S of the Co. together with notes to accounts

Answer 1

Dear Student

NUPUR LTD
BALANCE SHEET
Particulars	Note	March 31
		`
EQUITY AND LIABILITIES
SHAREHOLDERS' FUNDS
Share Capital	3	980,000
Reserves and Surplus
SHARE APPLICATION MONEY PENDING ALLOTMENT		-
NON-CURRENT LIABILITIES
Long-Term Borrowings		-
Deferred Tax Liabilities (Net)		-
CURRENT LIABILITIES
Trade Payables		-
Other Current Liabilities		-
Short-Term Provisions		-
TOTAL		980,000
ASSETS
NON-CURRENT ASSETS
Fixed Assets		-
Tangible Assets		-
Long term loans and advances		-
Other non-current assets		-
Deferred Tax Assets (Net)		-
INVESTMENTS
CURRENT ASSETS
Inventories		-
Cash and cash equivalents		980,000
Short-term loans and advances		-
Other Current Assets		-
TOTAL		980,000
Summary of Significant Accounting Policies
Notes form an integral part of the Financial Statement

Note - 3 Share Capital
Particulars	Amt	Amt
Authorised Capital
2,00,000 Equity Shares of Rs. 10/- each.		2,000,000
Issued Capital
1,50,000 Equity Shares of Rs. 10/- each.		1,500,000
Subscribed Capital
Subscribed and Fully Paid up
0 Equity Shares of Rs. 10/- each		-
Subscribed but not Fully Paid up
1,40,000 Equity Shares of Rs. 10/- each , Rs 7/- called up	980,000
Less : Calls in Arrears	-	980,000
Add: Share Forefiture A/c		-
		980,000

Regards