Titanic Ltd. issued 10,000 equity shares at ₹20 per share for cash and 20,000 equity shares to supplier of plant costing ₹4,50,000. Assuming face value of shares at ₹10 each, show the resultant disclosure in the notes to

Working Notes: Calculation of Capital Reserve: (₹) Share Forfeited A/c credited at the time of forfeiture of 2000 shares 12,000 Proportionate Share Forfeited A/c on 1500 shares re-issued 9,000 Less Share Forfeited A/c used for discount 1,500 Balance transferred to Capital Reserve A/c 7,500 Issued Subscribed and Paid up Capital 30000 Equity Shares of ₹10 each ₹3,00,000 (of the above 20,000 Equity Shares were issued for consideration other than Cash) Reserve & Surplus (₹) Security Premium 3,50,000 Computation of Security Premium: (a) For Cash issue: 10,000 shares @ ₹10 (b) For other than Cash: Value of Plant & Machinery 4,50,000 No. of Shares issued 20,000 Value per Share (4,50,000/20,000) 22.50 Premium Per Share 12.50 Total Premium 2,50,000 Total Security Premium 3,50,000