Question

EF Ltd. invited applications for issuing 80,000 equity shares of ₹50 each at a premium of 20%. The amount was payable as follows: On Application ₹20 per share (including premium ₹5) On Allotment ₹15 per share (including premium ₹5) On First Call ₹15 per share On Second and Final Call Balance amount Applications for 1,20,000 shares were received. Applications for 20,000 shares were rejected and pro-rata allotment was made to the remaining applicants. Seema, holding 4,000 shares failed to pay the allotment money. Afterwards, the first call was made. Seema paid allotment money along with the first call. Sahaj who had applied for 2,500 shares failed to pay the first call money. Sahaj's shares were forfeited and subsequently 40% shares were reissued to Geeta for ₹38 per share, ₹40 per share paid up. Final call was not made.

Based on above information, you are required to answer the following question:

Subscribed and fully paid capital will be ______.

विकल्प

•  ₹31,52,000

• ₹31,82,000

• ₹31,82,000

• ₹31,52,000

Answer 1

₹31,52,000

Explanation:

Subscribed but not fully paid Capital

78,800 shares of ₹50 each, ₹40 Called-up = 31,52,000