Eduprobe
Question:
NK Ltd., a truck manufacturing company, is registered with an authorised capital of Rs.1,00,00,000 divided into equity shares of Rs.100 each. The subscribed and paid-up capital of the company is Rs.50,00,000. The company decided to open technical schools in the Jhalawar district of Rajasthan to train the specially abled children of the area. It is planning to provide them employment in its various production units and industries in the neighbourhood area. To meet the capital expenditure requirements of the project, the company offered 20,000 shares to the public for subscription. The shares were fully subscribed and paid. Present the share capital in the Balance Sheet of the company as per the provisions of Schedule III of the Companies Act, 2013. Also identify any two values that the company wants to communicate.
Solution:
| SR.NO | PARTICULARS | AMOUNT |
|---|---|---|
| 1 | Authorised capital | 1,00,00,000 |
| 2 | Subscribed, called up and paid-up equity shares of Rs.100 each | 50,00,000 + (20000*100) = 70,00,000 |
| 3 | Total equity share | 70,00,000 |
Company wants to communicate values of rural development and employment generation in rural areas.