Klen Ltd. was registered with an authorized capital of ₹ 10,00,000 divided into Equity Shares of ₹ 10. Out of these, 8,000 shares were issued to vendors as fully paid as purchase consideration for a business acquired

Klen Ltd. was registered with an authorized capital of ₹ 10,00,000 divided into Equity Shares of ₹ 10. Out of these, 8,000 shares were issued to vendors as fully paid as purchase consideration for a business acquired. The company offered 20,000 shares for public subscription and called up ₹ 8 per share and received the entire called up amount.

You are required to prepare the Balance Sheet of the company as per Schedule III of Companies Act, 2013, Showing Share Capital balance and also prepare Notes to Accounts.

[Ans. Issue Capital ₹ 2,80,000; Subscribed and Fully Paid Capital ₹ 80,000; Subscribed but not fully paid Capital ₹ 1,60,000.]