Altaur Ltd. was registered with an authorised Capital of ₹ 4,00,00,000 divided in 25,00,000 Equity Shares of ₹ 10 each and 1,50,000, 9% Preference Shares of ₹ 100 each
Altaur Ltd. was registered with an authorised Capital of ₹ 4,00,00,000 divided in 25,00,000 Equity Shares of ₹ 10 each and 1,50,000, 9% Preference Shares of ₹ 100 each. The company issued 8,00,000 Equity Shares for public subscription at 20% premium, payable ₹ 3 on application; ₹ 7 on allotment (including premium) and balance on call. Public had applied for 10,00,000 shares. Excess Applications were sent letters of regret.
All the dues on allotment were received except on 15,000 shares held by Sanju. Another shareholders Rocky paid his call dues along with allotment on his holding of 25,000 shares. You are required to prepare the Balance Sheet of the company as per Schedule III of Companies Act, 2023, showing Share Capital Balance and also prepare Notes to Accounts.
[Ans.: Subscribed Capital = ₹ 63,25,000.]
Anurag Pathak Posted new comment March 17, 2024
the company has only called up up-to allotment. the final call received of the rocky will be shown as calls in advance. as question only asked to show the share capital. we have not shown the calls in advance in the notes to accounts.
How can I find 8 Rupes in subscribe but not fully paid???
It is assumed final call has not been called, as no information is given regarding it. arrear is given only up-to the allotment. the final call received of a subscriber is considered as calls in advance. it is not shown in the answer as question only asking, how share capital will be shown in the balance sheet.
Sir in this question it is written that rockey has paid all its dues then why it is not included in subscribed and fully paid