That portion of the called up capital which has been actually received from the shareholders is known as :
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- Paid up capital
- Called up capital
- Uncalled capital
- Reserve capital
The Correct Option is A
Solution and Explanation
Top Questions on Accounting for Share Capital
PR Ltd. forfeited 10,000 equity shares of ₹10 each, issued at a premium of ₹4 per share, for non-payment of the first call of ₹3 per share. The second and final call of ₹2 per share had not yet been made.
These forfeited shares were later reissued at a discount of ₹1 per share, fully paid-up.
Pass necessary journal entries for the forfeiture and reissue of shares in the books of PR Ltd. Also prepare the Share Forfeiture Account.- CBSE CLASS XII - 2025
- Accountancy
- Accounting for Share Capital
Devi and Anupam were partners in a firm. Their fixed capitals were ₹9,00,000 and ₹6,00,000 respectively on 1st April, 2023. The partnership deed provided for the following:
(i) Interest on capital @ 12% p.a.
(ii) Interest on drawings @ 15% p.a.
On 1st May, 2023, Devi introduced additional capital of ₹1,00,000 and on 1st June, 2023, Anupam withdrew ₹2,00,000 from her capital.
Devi withdrew ₹4,000 per month for her personal use and Anupam withdrew ₹2,000 per month for her personal use.
The net divisible profit of the firm for the year ended 31st March, 2024 after allowing interest on capital and charging interest on drawings was ₹3,00,000.
Prepare Current Accounts of the partners.- CBSE CLASS XII - 2025
- Accountancy
- Accounting for Share Capital
- The following information has been obtained from the Balance Sheet of Jay Ltd. as at 31st March, 2024:
- CBSE CLASS XII - 2025
- Accountancy
- Accounting for Share Capital
- Poonam Ltd. forfeited 2,00,000 equity shares of ₹10 each issued at a premium of ₹5 per share for the non-payment of the first call of ₹2 per share. The second and final call of ₹3 per share was not yet made. The forfeited shares were reissued at a discount of ₹1 per share fully paid up. Pass necessary journal entries for the above transactions in the books of Poonam Ltd. Also prepare Share Forfeiture Account.
- CBSE CLASS XII - 2025
- Accountancy
- Accounting for Share Capital
ABC Ltd. was registered with authorised capital of \(₹1,00,00,000\) divided into 10,00,000 equity shares of \(₹10\) each. On 1stApril, 2024, the company offered to the public for subscription, 1,00,000 shares. Applications for 99,000 shares were received and allotment was made in full to all the applicants. A shareholder holding 9,000 shares failed to pay the final call of \(₹3\) per share.
Answer the following questions :
(i) The authorised capital of the company is :
(ii) The issued capital of ABC Ltd. is:
(iii) The amount of calls-in-arrears will be:
(iv) The ’subscribed and fully paid up capital’ of ABC Ltd. will be:
(v) Subscribed but not fully paid up capital of ABC Ltd. will be:
(vi) The amount of ’Share Capital’ presented in the Balance Sheet of ABC Ltd. will be:- CBSE CLASS XII - 2025
- Accountancy
- Accounting for Share Capital
Questions Asked in CBSE CLASS XII exam
- The monetary policy is formulated by the ____ in the Indian economy.
- CBSE CLASS XII - 2025
- Money and Banking
- "The government generally levies higher Goods and Services Tax (GST) on socially undesirable products like cigarettes, tobacco, liquor etc." Identify and explain the indicated government budget objective in the above statement.
- CBSE CLASS XII - 2025
- Government Budgeting
- Find the values of \( a \) for which \( f(x) = \sin x - ax + b \) is increasing on \( \mathbb{R} \).
Two batteries of emf's \(3V \& 6V\) and internal resistances 0.2 Ω \(\&\) 0.4 Ω are connected in parallel. This combination is connected to a 4 Ω resistor. Find:
(i) the equivalent emf of the combination
(ii) the equivalent internal resistance of the combination
(iii) the current drawn from the combination- CBSE CLASS XII - 2025
- Electrical Circuits
Four students of class XII are given a problem to solve independently. Their respective chances of solving the problem are: \[ \frac{1}{2},\quad \frac{1}{3},\quad \frac{2}{3},\quad \frac{1}{5} \] Find the probability that at most one of them will solve the problem.