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Accountancy
Accounting for Shares
A company was registered with a nominal capital of ₹3000000 divided into shares of ₹100 each, Out of which 20000 shares were offered to the public. The amount payable was ₹30 per share on the application, ₹40 per share on the allotment, and ₹30 per share on the first and final call. 19500 shares are subscribed by the public which is allotted to them. A shareholder holding 800 shares did not pay the allotment money and further any call. |
What is the amount of calls in arrears account? |
₹65000 ₹8000 ₹76000 ₹56000 |
₹56000 |
Calls in arrear= 800 shares X 70= ₹56000 |