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

(Issue of Shares at Premium, undersubscribed, Amount Payable in Instalments). Newbie Ltd. was registered with an authorised 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 30,000 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 applications. 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 Note to Accounts for the same.