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Question
Ronak Ltd. has issued 10,000 Equity Shares of ₹ 10 each and it has called the total nominal (face) value. It has received the total amount, except the final call of ₹ 3 on 500 Equity Shares. These 500 Equity Shares will be shown as ______.
Options
Subscribed and Fully Paid-up.
Subscribed but not Fully Paid-up.
Issued share capital.
None of these.
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Solution
Ronak Ltd. has issued 10,000 Equity Shares of ₹ 10 each and it has called the total nominal (face) value. It has received the total amount, except the final call of ₹ 3 on 500 Equity Shares. These 500 Equity Shares will be shown as subscribed but not fully paid up.
Explanation:
The company has called the full face value of the shares, but the final call of ₹ 3 per share on 500 shares has not been received. Therefore, these shares are subscribed but not fully paid-up.
