Question

Johri Ltd. was formed with an authorised capital of ₹10,00,000 divided into shares of ₹20 each. It offered 40,000 shares to the public for subscription at a premium of ₹10 per share. Applications were received for 37,000 shares and allotment was made to all applicants. Amounts were payable as follows: On Application ₹6 On Allotment ₹15 On 1st Call ₹5 On 2nd & Final Call Balance It forfeited 3,000 shares of ₹20 each (₹16 called up) held by Mansi, for non-payment of allotment and the first call. Out of these, 2,000 shares were reissued to Sudha as ₹16 called up for ₹14 per share. Second and final call was not made by the Company.

Subscribed but not Fully Paid Capital will be ______.

विकल्प

• ₹5,76,000

• ₹5,82,000

• ₹7,20,000

• ₹7,26,000

Answer 1

Subscribed but not Fully Paid Capital will be ₹5,76,000.

Explanation:

Subscribed but not Fully Paid Capital:

36,000 Shares of ₹20 each, ₹16 called

₹5,76,000