Question

Surya Ltd. issued 50,000 equity shares of ₹ 10 each. The amount was payable as follows:

on Application - ₹ 3 per share;

on Allotment - ₹ 2 per share;

on First and Final Call - the balance.

Usha, to whom 700 shares were allotted, paid her entire share money on allotment. Raj, to whom 300 shares were allotted, did not pay the first and final call. The amount to be debited to the bank account for first and final call after it becomes due will be:

पर्याय

• ₹ 2,50,000

• ₹ 2,48,500

• ₹ 2,45,000

• ₹ 2,52,000

Answer 1

₹ 2,45,000

Explanation:

1. Calculate the final call amount:

Face Value = ₹ 10

Application (₹ 3) + Allotment (₹ 2)

= ₹ 5

Final Call = 10 − 5

= 5

2. Calculate total amount due on call:

= 50,000 × 5

= 2,50,000

3. Adjustments:

Calls-in-Advance (Usha) = 700 shares × 5

= 3.500

Calls-in-Arrears (Raj) = 300 shares × 5

4. Final bank amount:

Bank account = Total due − Advance

= 2,50,000 − 3,500 − 1,500

= 2,45,000

The amount to be debited to the Bank Account is ₹ 2,45,000.