Question:
Total amount of ‘Subscribed and fully paid-up’ capital will be:
Total amount of ‘Subscribed and fully paid-up’ capital will be:
Show Hint
Forfeited shares are treated as fully paid-up while calculating “Subscribed and Fully Paid-Up Capital.”
Updated On: Jul 15, 2025
- 5,00,00,000
- 49,50,000
- 50,00,000
- 49,90,000
Hide Solution
Verified By Collegedunia
The Correct Option is C
Solution and Explanation
All 5,00,000 shares were subscribed. Full amount of 10 per share (face value) was called up, so: \[ 5,00,000 \times 10 = 50,00,000 \] Although Bhola did not pay all calls, this amount was forfeited, meaning these shares are no longer outstanding. So, they are considered fully paid from the company’s point of view.
Was this answer helpful?
0
0
Top Questions on Accounting for Share Capital
- Altima Ltd. invited applications for 2,00,000 equity shares of ₹ 10 at a premium of ₹ 4 per share. Amount payable:
On application and allotment – ₹ 7 (incl. ₹ 1 premium)
On first and final call – Balance.
Applications received for 2,40,000 shares. 30,000 rejected. Manvi allotted 4,000 shares failed to pay first and final call. Her shares were forfeited. These were reissued at ₹ 4 per share fully paid-up.
Pass journal entries in the books of Altima Ltd.- CBSE CLASS XII - 2025
- Accountancy
- Accounting for Share Capital
- Sona Ltd. invited applications for issuing 60,000 equity shares of ₹ 50 each. The amount was payable as follows:
On Application – ₹ 20 per share
On Allotment – ₹ 25 per share
On First and final call – Balance
Applications for 90,000 shares were received. Applications for 10,000 shares were rejected and application money refunded. Shares were allotted on pro-rata basis to the remaining applicants. Excess money received with applications was adjusted towards sums due on allotment. Rahul, to whom 600 shares were allotted, failed to pay the allotment money and his shares were forfeited immediately. Afterwards, the first and final call was made. Mona, to whom 1,000 shares were allotted, failed to pay the first and final call. Her shares were also forfeited. Pass necessary journal entries in the books of Sona Ltd. for the above transactions.- CBSE CLASS XII - 2025
- Accountancy
- Accounting for Share Capital
- Pass necessary journal entries for forfeiture and reissue of forfeited shares in the following cases:
(i) Macil Ltd. forfeited 3,000 shares of ₹ 100 each issued at 20% premium for non-payment of allotment ₹ 30/share and 1st call ₹ 40/share (incl. premium ₹ 10). 2nd and final call of ₹ 30 not yet called. Out of these, 2,000 were reissued at ₹ 80 each fully paid up for ₹ 90/share.
(ii) Avian Ltd. forfeited 10,000 shares of ₹ 10 each. First call of ₹ 4 not received, second and final call of ₹ 1 not yet called. 4,000 shares reissued to Ajay at ₹ 9 fully paid.- CBSE CLASS XII - 2025
- Accountancy
- Accounting for Share Capital
- Jeeta Ltd. forfeited 300 shares of \(₹100\) each for the non-payment of final call of \(₹10\) per share. The amount credited to share forfeiture account will be :
- CBSE CLASS XII - 2025
- Accountancy
- Accounting for Share Capital
- VL Ltd. offered for public subscription 90,000 equity shares of ₹ 10 each at a premium of 10%. The entire amount was payable on application. Applications were received for 1,00,000 shares and allotment was made to all the applicants on pro-rata basis. The amount received on application was___.
- CBSE CLASS XII - 2025
- Accountancy
- Accounting for Share Capital
View More Questions
Questions Asked in CBSE CLASS XII exam
- Briefly explain the dual pricing policy adopted by China.
- CBSE CLASS XII - 2025
- Global Economy
- Draft an invitation card on behalf of the Principal of J.B. Bhatia Public School for the launch of ‘Yoga for Life’ programme in the school. Mention a compelling highlight of the programme along with other necessary details.
- CBSE CLASS XII - 2025
- Letter Writing
- A convex lens of focal length \( f = 15\,cm \) forms a real image of a 6 cm tall object placed at 30 cm. Find the position, nature, and height of the image.
- The electric field at a point in a region is given by \( \vec{E} = \alpha \frac{\hat{r}}{r^3} \), where \( \alpha \) is a constant and \( r \) is the distance of the point from the origin. The magnitude of potential of the point is:
- CBSE CLASS XII - 2025
- Electrostatics
- Define a wavefront. An incident plane wave falls on a convex lens and gets refracted through it. Draw a diagram to show the incident and refracted wavefront.
- CBSE CLASS XII - 2025
- Wave Optics
View More Questions