question_answer

On 1st April, 2020, Rishi Ltd. was formed with an authorized capital of Rs.10,00,000 divided into 1,00,000 equity shares of Rs.10 each. The company invited applications for 80,000 equity shares. The company received applications for 75,000 equity shares. During the first year, Rs.8 per share were called. Ram holding 1,000 shares did not pay the first call of Rs.2 per share. Ram shares were forfeited after the first call. Share capital to be shown in the balance sheet is:

A) 7,56,000  

B) 7,46,000

C) 6,06,000

D) 5,98,000