Practicing Success

Target Exam

CUET

Subject

Accountancy

Chapter

Accounting for Shares

Question:

The Adarsh Control Device Ltd. was registered with a nominal capital of 30000 shares of ₹10 each, Out of which 20000 shares were offered to the public. The amount payable is ₹3 per share on the application, ₹4 per share on the allotment, and ₹3 per share on the first and final call. 19000 shares are subscribed by the public which is allotted to them. All shareholder pay the full amount except a shareholder Ram who hold 1000 shares not pay the final call.

How much amount will be written in subscribed and fully paid-up capital of the company?

Options:

₹200000

₹190000

₹180000

₹170000

Correct Answer:

₹180000

Explanation:

19000 Shares are subscribed by the public, out of it 1000 shares do not pay final call which means 18000 shares are fully paidup.
So, subscribed and fully paid-up capital = 18000 X 10= ₹180000