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 including premium on the allotment and the balance amount on the first and final call. The issue was fully subscribed and all the amount due was received except the first and final call money on 500 shares allotted to Balla. Subscribed and not fully paid up capital is _______.
Option 1: Rs 2,500
Option 2: Rs 5,000
Option 3: Rs 7,500
Option 4: None of the above
Correct Answer: Rs 2,500
Solution : Answer = Rs 2500
Subscribed but not fully paid up
500 shares @10 each = 5000
(-) call-in-arrears = (2500)
(500 x 5 each)
= 2500 Hence, the correct option is 1.
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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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