Sunrise Ltd. was formed on 1* November, 2021, with a capital of ₹20, 00, 000 divided into Equity shares ₹20 each. It offered 95% shares to the public which were all subscribed for. 60% amount was payable on application; 30% on allotment; And the balance on final call. The applicants paid ₹11,40,000.on application and ₹5,40,000 on allotment. Final call was not made by the company till the Balance Sheet date.
You are required to prepare:
(i) An extract of the Balance Sheet showing Share Capital. (ii) Notes to Accounts.
,