Practicing Success

Target Exam

CUET

Subject

Accountancy

Chapter

Accounting for Shares

Question:

The subscribed capital of a company is ₹8000000 and the nominal value of the share is ₹100 each. There were no calls in arrears till the final call was made. The final call made was paid on 77,500 shares only. The balance in the calls in arrears amounted to ₹62500. What is the final call on share?

Options:

₹25

₹23

₹22

₹20

Correct Answer:

₹25

Explanation:

Total shares = ₹8000000 of ₹100 each means 8000000/100= 80000 shares
Final call was for 77500 shares means 2500 shares were not paid
Amount not received on 2500 shares were ₹62500
Final call = 62500/2500 = ₹25