Share Capital

 Subscribed capital is nothing but CASH

in my view the balance sheet might look like this

Liability side: subscribed capital 10,00,000

Asset side: Cash at bank or hand  10,00,000

But how could we say that cash is received under Bank/Cash? The capital still not have been paid up.

When shares are suscribed and alloted and are supposed to be fully paid up during allotment as per MoA, the initial entry is Share Allotment Account (Dr) and Equity Share Capital A/C (Cr.) . Now , since no money/assets have been paid , then in that case , the balance of Share Alottment Account is transfered to Calls in Arrear A/C. 

The subsequent entry is Calls in Arrear (Dr) and Credit the Share Allotment A/C . The balance sheet will then represent (on the liabilities side ) -- > Equity Share Capital (Cr). Less Calls in Arrear, the balance of the liabilities side will come to zero.

yeah...totally agreed with dhruv

yes i completely agreed with dhruv

Sorry, I was wrong.

I also agree with Dhruv.

Thanks