Question

India Ltd. invited applications for issuing 3,00,000 equity shares of ₹10 each at a premium of ₹30 per share. The amount was payable as follows: On Applications ₹7 per share (including ₹5 premium) On Allotment ₹10 per share (including ₹7 premium) On First Call ₹11 per share (including ₹8 premium) On Second and Final Call Balance Amount A shareholder holding 2,000 shares did not pay the first call and second and final call money and his shares were forfeited after the final call.

Calls in Arrears Account will be credited by ______.

पर्याय

• ₹10,000

• ₹24,000

• ₹22,000

• ₹46,000

Answer 1

Calls in Arrears Account will be credited by ₹46,000.

Explanation:

The shareholder holding 2,000 shares did not pay:

First Call: ₹11 (₹3 capital + ₹8 premium)

Second & Final Call: ₹12 (₹2 capital + ₹10 premium)

Total unpaid per share = ₹11 + ₹12 = ₹23

2,000 shares: 2,000 × ₹23

= ₹46,000