Question : Mamta Ltd. issued 5,000 equity shares of Rs.10 each. Out of these 5,000 shares, final call of Rs.4 on 1,000 shares issued to Mahesh was not received. What is the amount shown under the head Share Capital (Subscribed but not fully paid up) in the Balance Sheet of the company?
Option 1: Rs.50,000
Option 2: Rs.46,000
Option 3: Rs.4,000
Option 4: None of these
Correct Answer: Rs.46,000
Solution : Amount to be called up = 5,000 X Rs.10 = Rs.50,000 (-) Calls-in-arrears = 1,000 X Rs.4 = (Rs.4,000) Amount to be shown in Share Capital = Rs.46,000 Hence, the correct option is 2.
Question : Ratan India Ltd.’ is registered with an authorized capital of Rs. 20,00,000 divided into 2,00,000 equity shares of Rs.10 each. The company issued 50,000 equity shares at a premium of Rs.5 per share. Rs.2 per share was payable with the application, Rs.8 per share
Question : Assertion A: Sun Flower Ltd. issued 10,000 equity shares of Rs.10 each. It received the nominal face value of the shares except the first and final call of Rs.3 per share on 1000 shares. These 1,000 equity shares will be shown as subscribed but not fully paid up
Question : Mahesh Ltd. took over assets of Rs.24,60,000 and liabilities of Rs.4,60,000 of J Ltd. at an agreed value of Rs.22,00,000 payable Rs.5,08,000 by a bank draft and balance by the issue of Equity Shares of 100 each at a premium of 20%. The number of Equity Shares issued
Question : Ratan India Ltd.’ is registered with an authorized capital of Rs. 20,00,000 divided into 2,00,000 equity shares of Rs.10 each. The company issued 50,000 equity shares at a premium of Rs.5 per share. Rs.2 per share were payable with the application, Rs.8 per share
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