X' Ltd. was formed with a capital of Rs 15,00,000 divided into equity shares of Rs 10 ea
Channel: Doubtnut
Date: 2020-04-26

X' Ltd. was formed with a capital of Rs 15,00,000 divided into equity shares of Rs 10 each. Out of these 6,000 shares were issued to the vendors as fully paid as purchase consideration for a building acquired and 3,000 shares were issued to signatories to the Memorandum of Association as fully paid. The Directors offered 19,500 shares to the public and called up Rs 6 per share and received the entire called up amount on shares allotted. Prepare a Balance Sheet showing Share Capital as per Schedule III Part I of Companies Act, 2013 from the above transactions in the books of 'X' Ltd.