question_answer

Rishi Ltd. was registered with Equity share capital of Rs.2,50,000 in shares of Rs.100 each. It issued 2,000 of such shares payable Rs.25 per share on application; Rs.25 on allotment; Rs.20 on first call; and Rs.30 on final call. All moneys payable on application and allotments were duly received; but when the first call of Rs.20 per share was made, one shareholder holding 100 shares failed to pay the amount and another shareholder holding 200 shares paid the full amount on first call. Final call was not made till the end of the year. Closing balance of cash book will be:

A) 1,40,000

B) 1,38,000

C) 1,44,000

D) 1,46,000