Question : Willow Ltd. was registered with an authorised capital of Rs. 10,00,000 divided into 1,00,000 equity shares of Rs. 10 each. The company offered 80,000 shares for subscription to the public, out of which 75,000 shares were subscribed. All amounts were received except the final call of Rs. 2 per share on 3,000 shares. Fill in the missing figures in the Balance Sheet of Willow Ltd. as per the provisions of Schedule III, Part I of the Companies Act, 2013.
BALANCE SHEET as at 31st March, 2018 (An extract)
Particulars
Note No.
Rs.
I. EQUITY AND LIABILITIES
1, Shareholders'Funds
Share Capital
1
?
Note to Accounts
1. Share Capital
Authorised Capital
7
Issued Capital
Subscribed Capital Subscribed and fully paid-up
? shares of Rs. 10 each
Subscribed but not fully paid-up
Less: ?
Question:- Subscribed and not fully paid up value is _______.
Option 1: Rs. 30,000
Option 2: Rs. 24,000
Option 3: Rs. 7,20,000
Option 4: None of the above
Correct Answer: Rs. 24,000
Solution : Answer = Rs. 24,000
BALANCE SHEET as of 31st March 2018 (An extract)
1. EQUITY AND LIABILITIES
Shareholders'Funds
7,44,000
1. Share Capital Authorised Capital
1,00,000 Equity Shares of Rs. 10 each
10,00,000
80.000 Equity Shares of Rs. 10 each
Subscribed Capital
Subscribed and fully paid-up
72.000 Equity Shares of Rs. 10 each
8,00,000
7,20,000
3,000 Equity Shares of Rs. 10 each
Less: Calls-in-Arrears (3,000 x Rs. 2)
30,000
6,000
24,000
Hence, the correct option is 2.
Question : Willow Ltd. was registered with an authorised capital of Rs. 10,00,000 divided into 1,00,000 equity shares of Rs. 10 each. The company offered 80,000 shares for subscription to the public, out of which 75,000 shares were subscribed. All amounts were received except
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