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Question
| Kaveri Ltd. was registered with an authorised capital of 40,000 equity shares of ₹100 each. It offered 30,000 equity shares to the public at a premium of ₹40 per share. The amount per share was payable as ₹30 on application; ₹70 (including premium) on allotment; and the balance on first and final call. 28,000 shares were subscribed by the public. All calls were made. A shareholder holding 1,000 shares failed to pay the allotment and first and final call money. |
Subscribed Capital will be ______.
Options
₹27,00,000
₹28,30,000
₹28,00,000
₹27,30,000
MCQ
Fill in the Blanks
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Solution
Subscribed Capital will be ₹27,30,000.
Explanation:
Subscribed and Fully Paid Capital:
| Subscribed and Fully Paid Capital: | ||
| 27,000 Equity Shares of ₹100 each fully called up | 27,00,000 | |
| Subscribed but not Fully Paid Capital: | ||
| 1,000 Equity Shares on ₹100 each fully Called up | 1,00,000 | |
| Less: Calls in Arrears (1,000 Shares × ₹70*) | 70,000 | 30,000 |
| 27,30,000 |
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