Accountancy > Accounting For Companies > Accounting For Share Capital
ABC Ltd. was registered with authorised capital of ₹ 1,00,00,000 divided into 10,00,000 equity shares of ₹10 each. On 1st April, 2024, the company offered to the public for subscription, 1,00,000 shares. Applications for 99,000 shares were received and allotment was made in full to all the applicants. A shareholder holding 9,000 shares failed to pay the final call of ₹3 per share.
Answer the following questions:
(i) The authorised capital of the company is :
(A) ₹10,00,000 (B) ₹9,90,000 (C) ₹1,00,00,000 (D) ₹99,45,000
(ii) The issued capital of ABC Ltd. is:
(A) ₹1,00,000 (B) ₹99,000 (C) ₹94,500 (D) ₹10,00,000
(iii) The amount of calls-in-arrears will be :
(A) ₹27,000 (B) ₹90,000 (C) ₹2,97,000 (D) Nil
(iv) The 'subscribed and fully paid up capital' of ABC Ltd. will be :
(A) ₹10,00,000 (B) ₹9,00,000 (C) ₹99,00,000 (D) ₹98,73,000
(v) 'Subscribed but not fully paid up capital' of ABC Ltd. will be :
(A) ₹98,73,000 (B) ₹8,73,000 (C) ₹90,000 (D) ₹63,000
(vi) The amount of 'Share Capital' presented in the Balance Sheet of ABC Ltd. will be:
(A) ₹9,63,000 (B) ₹98,73,000 (C) ₹9,90,000 (D) ₹1,00,00,000
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