Question : On 1st April, 2012, Vishwas Ltd. was formed with an authorised capital of Rs. 10,00,000 divided into 1,00,000 equity shares of Rs. 10 each. The company issued prospectus inviting applications for 90,000 equity shares. The company received applications for 85,000 equity shares. During the first year, Rs. 8 per share were called. Ram holding 1,000 shares and Shyam holding 2,000 shares did not pay the first call of Rs. 2 per share. Shyam's shares were forfeited after the first call and later on 1,500 of the forfeited shares were reissued at Rs. 6 per share, Rs. 8 called-up.
Question:- Amount of call – in arrear ________.
Option 1: Rs. 2,000
Option 2: Rs. 4,000
Option 3: Rs. 6,000
Option 4: None of these
Correct Answer: Rs. 2,000
Solution : Answer = Rs. 2,000
First call = Rs.2 per share. Number of Ram's shares = 1,000 shares. Calls-in-arrears of Ram = 1,000 X Rs.2 = Rs.2,000. Hence, the correct option is 1.
Question : On 1st April, 2012, Vishwas Ltd. was formed with an authorised capital of Rs. 10,00,000 divided into 1,00,000 equity shares of Rs. 10 each. The company issued prospectus inviting applications for 90,000 equity shares. The company received applications for 85,000
Regular exam updates, QnA, Predictors, College Applications & E-books now on your Mobile