From the information of Prudence Ltd. given below, you are required to show how the relevant items will appear in the company’s Balance Sheet (an extract) as at 31st March 2022.
The authorised capital of Prudence Ltd. consisted of 3,000, 10% Preference Shares of ₹ 100 each and 8,000 Equity Shares of ₹100 each, out of which:
(a) 1,000, 6% Preference shares were issued to the public, fully called and paid up (b) 3,000 Equity shares were issued which were fully called up. (c) There were arrears of ₹ 20 per share on 400 Equity shares.
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