Question

Following amounts were payable on issue of shares by a company : Rs.3 on application , Rs.3 on allotment , Rs.2 on first call and Rs.2 on final call . X holding 500 shares paid only application and allotment money whereas Y holding 400 shares did not pay final call . Amount of calls in arrear will be: *

(A.) 3,800
(B.) 2,800
(C.) 1,800
(D.) 6,200​

Answer 1

Answer:

Amount of calls In arrear

X = 500×4=2000

Y= 400×2=800

total = 2800 option B is correct

Answer 2

Total Amount in Call-in-Arrear is 2,800.

Explanation:

As we know that Call-in-Arrear A/c have the amount of the money not received on shares.

Thus, given our case

# X who held 500 shares didn't pay both first and final call of ₹2 per share each , thus Call-in-Arrear for X

•First call= 500 X 2= 1,000

•Final call= 500 X 2=1,000

# Y who held 400 shares didn't pay the final call of ₹2 each, thus Call-in-Arrear for Y

• Final call= 400 X 2= 800

Total Balance in Call-in-Arrear = 2,000+800 = 2,800