Anticraft Ltd. invited applications for 2,00,000 shares of ₹10 each at ₹2 premium, payable as ₹3/- on application. ₹6 on allotment (including premium) and ₹3/- on Call. Public had applied for 2,70,000 shares out of which application for 20,000 shares were rejected and remaining were allotted on pro-rata basis. Rahul who has been allotted 8000 shares failed to pay allotment and call money. His shares were forfeited and later on re-issued 6,000 shares @ ₹8/- per share as fully paid-up.

Based on the above information, answer Questions.

Number of shares to be shown as subscribed and fully paid up will be.

1,98,000 shares

The correct answer is Option (4) - 1,98,000 shares.

Allotted shares = 200000
Forfeited shares of Rahul = 8000
Reissued shares of Rahul = 6000

Shares shown as fully subscribed = allotted shares - forfeited shares + reissued shares
                                                 = 200000 - 8000 + 6000
                                                 = 198000