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.