2. Questions Bank
  3. 12th Class
  4. Accountancy
  5. Accounting For Share Capital

12th Class Accountancy Accounting For Share Capital Question Bank MCQs - Accounting for Share Capital

  • question_answer
    Anthony Ltd. issued 40,000 equity shares of Rs. 20 each payable as Rs. 5 on application; Rs. 7 on allotment and Rs. 8 on final call Company received the due amount but one shareholder holding 250 shares did not pay the allotment money and another shareholder holding 150 shares failed to pay the amount due on final call. Total amount of calls-in-arrears is:

    A) Rs. 1,750                                  

    B) Rs. 3.200    

    C) Rs. 6,000                                  

    D) Rs. 4,950

    Correct Answer: D

    Solution :

    [d] Rs. 4,950
    Hint: Calls-in-arrears:            (Rs.)
    Allotment (250\[\times\] 7) = 1,750
    Final Call (250\[\times \] 8) = 2,000
                    (150\[\times\]  8) = 1,200
                                              = 4,950.
     


You need to login to perform this action.
You will be redirected in 3 sec spinner