Question

Directors issued 20000 equity shares of ₹ 100 each at par. These were fully subscribed and called up. All money were received except one shareholder holding 100 equity shares failed to pay final call of ₹ 20 per share. Calculate the amount of paid-up capital of the company

Answer 1

Fully subscribed and called-up amount = 20,000 equity shares × ₹ 100 each share

= ₹ 20,00,000

But one share holder failed to pay final call of ₹ 20 per share of 100 equity shares means Non-payment of shares = 100  equity shares × ₹  20 per share

= ₹ 2,000

∴ Total Paid-up capital amount = ₹ 20,00,000 – ₹ 2,000

= ₹ 19,98,000