(Issue of Shares at Premium, Fully Subscribed, Amount Payable in Instalments).
Channel: Doubtnut
Date: 2020-03-29

(Issue of Shares at Premium, Fully Subscribed, Amount Payable in Instalments). \'Tractors India Ltd.\' is registered with a authorised capital of Rs. 10,00,000 divided into 1,00,000 equity shares of Rs. 10 each. The company issued 50,000 equity shares at a premium of Rs. 5 per share. Rs. 2 per share were payable with application, Rs. 8 per share (including premium) on allotment and the balance amount on first and final call. The issue was fully subscribed and all the amount due was received except the first and final call money on 500 shares allotted to Balaram. Present the \'Share Capital\' in the Balance Sheet of \'Tractors India Ltd.\' as per Schedule III, part I of the Companies Act, 2013. Also prepare Note to Accounts for the same.