On 1st April, 2012 Vivek Ltd. was formed with an authorized capital of Rs. 1,00,00,00
Channel: Doubtnut
Date: 2020-04-26

On 1st April, 2012 Vivek Ltd. was formed with an authorized capital of Rs. 1,00,00,000 divided into 2,00,000 equity shares of Rs. 50 each. The company issued prospectus inviting applications for 1,80,000 shares. The issue price was payable as under :  `{:("On application",:,"Rs. 15"),("On Allotment",:,"Rs. 20"),("On Call",:,"Balance amount"):}`  The issue was fully subscribed and the company allotted shares to all the applications. All money received except allotment on 5,000 shares. The company did not make the call during the year.  Show the following :  (a) Share capital in the Balance Sheet of the company as per Schedule-III Part-I of the Companies Act, 2013.  (b) Also prepare 'Notes to Accounts' for the same.