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Question
On an equity share of ₹ 20, the company called-up ₹ 16 and had received ₹ 14, Equity Share Capital Account will be credited by ______.
Options
₹ 20.
₹ 16.
₹ 14.
₹ 2.
MCQ
Fill in the Blanks
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Solution
On an equity share of ₹ 20, the company called-up ₹ 16 and had received ₹ 14, Equity Share Capital Account will be credited by ₹ 16.
Explanation:
Share Capital Account is credited with the amount called-up, irrespective of the amount actually received. Since ₹ 16 has been called on each share, Equity Share Capital A/c will be credited by ₹ 16.
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