Manser Company Ltd., New Delhi, has registered its capital as Rs. 40,00,000, divided into 4,00,000 shares of Rs. 10 each. The company offered the public a subscription of 2,00,000 shares of Rs. 10 each. The company received applications for 2,00,000 shares. The company did not make the final call of Rs. 2 per share. The company received all the amount except 2,000 shares where share first call money of Rs. 3 per share has not been received. Share capital to be shown in balance sheet of Manser Company Ltd. will be:
Answer & explanation
Correct answer: option 2
The correct answer is Option (2) → Rs. 15,94,000
The balance sheet shows share capital at the amount called up, less the calls in arrears on it. The registered capital (Rs. 40,00,000) and the issued capital (Rs. 20,00,000) appear in the Notes to Accounts as well, but they are not the share capital the company has actually raised.
Called up per share = Rs. 10 − Rs. 2 final call not made = Rs. 8
Called-up capital = 2,00,000 shares × Rs. 8 = Rs. 16,00,000
Calls in arrears = 2,000 shares × Rs. 3 first call = Rs. 6,000
Share capital shown = Rs. 16,00,000 − Rs. 6,000 = Rs. 15,94,000
Note: This question is from NCERT (2026-27). NTA sets numerical questions from NCERT too, so do not ignore NCERT while practising numericals.
NCERT (2026-27 edition):
|
