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10-01-2024
Mathematics

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- The authorised capital of Sarang Ltd. is 1,20,00,000 divided into 12,00,000 shares of 10 each. Out of these, company issued 8,00,000 shares of 10 each at a premium of 20%. The amount per share was payable as follows: ₹2 *6 (including premium) 72 On Application On Allotment On First Call On Final Call Balance Public applied for 7,80,000 shares. All the money was duly received. Prepare an extract of Balance Sheet of Sarang Ltd. as per Schedule III, Part I of the Companies Act, 2013, disclosing the above information. Also prepare 'Notes to Accounts' for the same.

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