Question

A company issued 10,000 shares of Rs 10 each. Amount is payable as Rs 2 on
application, Rs 5 on allotment and Rs 3 on first and final call. A shareholder who
had 1,000 shares failed to pay allotment and first call amount on due date. After a
month, he paid the due amount. What will be the amount received by company
against issue of shares?
a) Rs 92,000
b) Rs 90,000
c) Rs 1,00,000
d) Rs 8,000

Answer 1

Answer:

A

Explanation:

on that question ,A shareholder doesn't pay amount of allotment and first or final call

so, Allotment +First or final=5+3=8 , amount called up

calls in arrears =1000×8=8,000, which is not payable by shareholder.

Actually amount called up =10000×10 (face value)=1,00,000

Amount received

1,00,000-8,000=92,000