Newbie Ltd. was registered with an authorized capital of Rs 5,00,000 divided into 50,000 equ
Channel: Doubtnut
Date: 2020-04-26

Newbie Ltd. was registered with an authorized capital of Rs 5,00,000 divided into 50,000 equity shares of Rs 10 each. Since the economy was in robust shape, the company decided to offer to the public for subscription 30000 equity shares of Rs 10 each at a premium of Rs 20 per share. Applications for 28,000 shares were received and allotment was made to all the applicants. All  calls were made and duly received except the final call of Rs 2 per share on 200 shares. Show the 'Share Capital' in the balance Sheet of Newbie Ltd. as per Schedule III of the Companies Act 2013. Also prepare Notes to Accounts for the same.