Question

x ltd.was formed with a capital of ₹1000000 divided into shares of ₹10 each.it offered 90% shares to public for subscription . the amount per share was payable as 40%on application ,20%on allotment and the balance on first and final call . the applicants paid ₹ 360000 on application and ₹ 169000 on allotment .the call has not yet been made . calculate : authorised capital,issued capital,subscribed capital, called up capital,paid up capital and calls in arrears.​

Answer 1

Answer:

authorised capital

10000 share @100 each = 10 00 000

issued capital

90% of 10000 @100each = 9 00 000

subscribe capital (called up)

90% of 10000@ 60 each = 5 40 000

paid up capital:

application +allotment = ( 529000)

calls in areas = 11000