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D Ltd. issued 2,00,000 shares of Rs.100 each at a premium of Rs.20 per share payable as follows :
On application Rs.20
On allotment Rs.50 (including premium)
On first call Rs.30
On second and final call Rs.20
Applications were received for 3,00,000 shares and pro rata allotment was made to applicants of 2,40,000 shares. Money excess received on application was employed on account of sum due on allotment as part of share capital. E, to whom 4,000 shares were allotted, failed to pay the allotment money and on his subsequent failure to pay the first call, his shares were forfeited and F, the holder of 6,000 shares failed to pay the two calls and his shares were forfeited after the second call. Of the forfeited shares, 8,000 shares were reissued to G at a discount of 10%, the whole of E’s forfeited shares being reissued.
 
Q.Net balance in Share Capital Account = ________.
  • a)
    Rs 2,00,00,000
  • b)
    Rs 2,08,00,000
  • c)
    Rs 2,04,00,000
  • d)
    Rs 1,98,00,000
Correct answer is option 'D'. Can you explain this answer?
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D Ltd. issued 2,00,000 shares of Rs.100 each at a premium of Rs.20 per...

The given question involves the issuance and forfeiture of shares, along with reissue at a discount. Let's break down the information and calculate the net balance in the Share Capital Account.
1. Shares Issued:
- Number of shares issued = 2,00,000
- Face value per share = Rs. 100
- Premium per share = Rs. 20
2. Amount received on application:
- Total application money received = 2,00,000 shares * Rs. 20 = Rs. 40,00,000
3. Amount received on allotment:
- Allotment money received = 2,40,000 shares * Rs. 50 = Rs. 1,20,00,000
4. Calls on Shares:
- First call amount = Rs. 30 per share
- Second and final call amount = Rs. 20 per share
5. Forfeiture of Shares:
- E failed to pay allotment money and first call, resulting in forfeiture of 4,000 shares.
- F failed to pay both the calls, resulting in forfeiture of 6,000 shares.
- Total forfeited shares = 4,000 + 6,000 = 10,000 shares
6. Reissue of Forfeited Shares:
- Out of the forfeited shares, 8,000 shares were reissued to G at a discount of 10%, which means G paid only 90% of the face value and premium.
Now, let's calculate the net balance in the Share Capital Account:
- Share Capital from Issuance:
- Face value of issued shares = 2,00,000 shares * Rs. 100 = Rs. 2,00,00,000
- Premium received = 2,00,000 shares * Rs. 20 = Rs. 40,00,000
- Share Capital from Allotment:
- Allotment money received = Rs. 1,20,00,000
- Share Capital from Calls:
- First call amount received = 2,40,000 shares * Rs. 30 = Rs. 72,00,000
- Second call amount received = 2,40,000 shares * Rs. 20 = Rs. 48,00,000
- Forfeited Shares:
- Total forfeited shares = 10,000 shares
- Face value of forfeited shares = 10,000 shares * Rs. 100 = Rs. 10,00,000
- Premium on forfeited shares = 10,000 shares * Rs. 20 = Rs. 2,00,000
- Reissue of Forfeited Shares:
- Reissued shares to G = 8,000 shares
- Reissue price per share = 90% of face value + premium = 90% of (Rs. 100 + Rs. 20) = Rs. 108
- Reissue amount received = 8,000 shares * Rs. 108 = Rs. 8,64,000
Now, let's calculate the net balance in the Share Capital Account:
- Total Share Capital = Share Capital from Issuance + Share Capital from Allotment + Share Capital from Calls
= Rs.
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D Ltd. issued 2,00,000 shares of Rs.100 each at a premium of Rs.20 per share payable as follows :On application Rs.20On allotment Rs.50 (including premium)On first call Rs.30On second and final call Rs.20Applications were received for 3,00,000 shares and pro rata allotment was made to applicants of 2,40,000 shares. Money excess received on application was employed on account of sum due on allotment as part of share capital. E, to whom 4,000 shares were allotted, failed to pay the allotment money and on his subsequent failure to pay the first call, his shares were forfeited and F, the holder of 6,000 shares failed to pay the two calls and his shares were forfeited after the second call. Of the forfeited shares, 8,000 shares were reissued to G at a discount of 10%, the whole of Es forfeited shares being reissued.Q.Net balance in Share Capital Account = ________.a)Rs 2,00,00,000b)Rs 2,08,00,000c)Rs 2,04,00,000d)Rs 1,98,00,000Correct answer is option 'D'. Can you explain this answer?
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D Ltd. issued 2,00,000 shares of Rs.100 each at a premium of Rs.20 per share payable as follows :On application Rs.20On allotment Rs.50 (including premium)On first call Rs.30On second and final call Rs.20Applications were received for 3,00,000 shares and pro rata allotment was made to applicants of 2,40,000 shares. Money excess received on application was employed on account of sum due on allotment as part of share capital. E, to whom 4,000 shares were allotted, failed to pay the allotment money and on his subsequent failure to pay the first call, his shares were forfeited and F, the holder of 6,000 shares failed to pay the two calls and his shares were forfeited after the second call. Of the forfeited shares, 8,000 shares were reissued to G at a discount of 10%, the whole of Es forfeited shares being reissued.Q.Net balance in Share Capital Account = ________.a)Rs 2,00,00,000b)Rs 2,08,00,000c)Rs 2,04,00,000d)Rs 1,98,00,000Correct answer is option 'D'. Can you explain this answer? for CA Foundation 2024 is part of CA Foundation preparation. The Question and answers have been prepared according to the CA Foundation exam syllabus. Information about D Ltd. issued 2,00,000 shares of Rs.100 each at a premium of Rs.20 per share payable as follows :On application Rs.20On allotment Rs.50 (including premium)On first call Rs.30On second and final call Rs.20Applications were received for 3,00,000 shares and pro rata allotment was made to applicants of 2,40,000 shares. Money excess received on application was employed on account of sum due on allotment as part of share capital. E, to whom 4,000 shares were allotted, failed to pay the allotment money and on his subsequent failure to pay the first call, his shares were forfeited and F, the holder of 6,000 shares failed to pay the two calls and his shares were forfeited after the second call. Of the forfeited shares, 8,000 shares were reissued to G at a discount of 10%, the whole of Es forfeited shares being reissued.Q.Net balance in Share Capital Account = ________.a)Rs 2,00,00,000b)Rs 2,08,00,000c)Rs 2,04,00,000d)Rs 1,98,00,000Correct answer is option 'D'. Can you explain this answer? covers all topics & solutions for CA Foundation 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for D Ltd. issued 2,00,000 shares of Rs.100 each at a premium of Rs.20 per share payable as follows :On application Rs.20On allotment Rs.50 (including premium)On first call Rs.30On second and final call Rs.20Applications were received for 3,00,000 shares and pro rata allotment was made to applicants of 2,40,000 shares. Money excess received on application was employed on account of sum due on allotment as part of share capital. E, to whom 4,000 shares were allotted, failed to pay the allotment money and on his subsequent failure to pay the first call, his shares were forfeited and F, the holder of 6,000 shares failed to pay the two calls and his shares were forfeited after the second call. Of the forfeited shares, 8,000 shares were reissued to G at a discount of 10%, the whole of Es forfeited shares being reissued.Q.Net balance in Share Capital Account = ________.a)Rs 2,00,00,000b)Rs 2,08,00,000c)Rs 2,04,00,000d)Rs 1,98,00,000Correct answer is option 'D'. Can you explain this answer?.
Solutions for D Ltd. issued 2,00,000 shares of Rs.100 each at a premium of Rs.20 per share payable as follows :On application Rs.20On allotment Rs.50 (including premium)On first call Rs.30On second and final call Rs.20Applications were received for 3,00,000 shares and pro rata allotment was made to applicants of 2,40,000 shares. Money excess received on application was employed on account of sum due on allotment as part of share capital. E, to whom 4,000 shares were allotted, failed to pay the allotment money and on his subsequent failure to pay the first call, his shares were forfeited and F, the holder of 6,000 shares failed to pay the two calls and his shares were forfeited after the second call. Of the forfeited shares, 8,000 shares were reissued to G at a discount of 10%, the whole of Es forfeited shares being reissued.Q.Net balance in Share Capital Account = ________.a)Rs 2,00,00,000b)Rs 2,08,00,000c)Rs 2,04,00,000d)Rs 1,98,00,000Correct answer is option 'D'. Can you explain this answer? in English & in Hindi are available as part of our courses for CA Foundation. Download more important topics, notes, lectures and mock test series for CA Foundation Exam by signing up for free.
Here you can find the meaning of D Ltd. issued 2,00,000 shares of Rs.100 each at a premium of Rs.20 per share payable as follows :On application Rs.20On allotment Rs.50 (including premium)On first call Rs.30On second and final call Rs.20Applications were received for 3,00,000 shares and pro rata allotment was made to applicants of 2,40,000 shares. Money excess received on application was employed on account of sum due on allotment as part of share capital. E, to whom 4,000 shares were allotted, failed to pay the allotment money and on his subsequent failure to pay the first call, his shares were forfeited and F, the holder of 6,000 shares failed to pay the two calls and his shares were forfeited after the second call. Of the forfeited shares, 8,000 shares were reissued to G at a discount of 10%, the whole of Es forfeited shares being reissued.Q.Net balance in Share Capital Account = ________.a)Rs 2,00,00,000b)Rs 2,08,00,000c)Rs 2,04,00,000d)Rs 1,98,00,000Correct answer is option 'D'. Can you explain this answer? defined & explained in the simplest way possible. Besides giving the explanation of D Ltd. issued 2,00,000 shares of Rs.100 each at a premium of Rs.20 per share payable as follows :On application Rs.20On allotment Rs.50 (including premium)On first call Rs.30On second and final call Rs.20Applications were received for 3,00,000 shares and pro rata allotment was made to applicants of 2,40,000 shares. Money excess received on application was employed on account of sum due on allotment as part of share capital. E, to whom 4,000 shares were allotted, failed to pay the allotment money and on his subsequent failure to pay the first call, his shares were forfeited and F, the holder of 6,000 shares failed to pay the two calls and his shares were forfeited after the second call. Of the forfeited shares, 8,000 shares were reissued to G at a discount of 10%, the whole of Es forfeited shares being reissued.Q.Net balance in Share Capital Account = ________.a)Rs 2,00,00,000b)Rs 2,08,00,000c)Rs 2,04,00,000d)Rs 1,98,00,000Correct answer is option 'D'. Can you explain this answer?, a detailed solution for D Ltd. issued 2,00,000 shares of Rs.100 each at a premium of Rs.20 per share payable as follows :On application Rs.20On allotment Rs.50 (including premium)On first call Rs.30On second and final call Rs.20Applications were received for 3,00,000 shares and pro rata allotment was made to applicants of 2,40,000 shares. Money excess received on application was employed on account of sum due on allotment as part of share capital. E, to whom 4,000 shares were allotted, failed to pay the allotment money and on his subsequent failure to pay the first call, his shares were forfeited and F, the holder of 6,000 shares failed to pay the two calls and his shares were forfeited after the second call. Of the forfeited shares, 8,000 shares were reissued to G at a discount of 10%, the whole of Es forfeited shares being reissued.Q.Net balance in Share Capital Account = ________.a)Rs 2,00,00,000b)Rs 2,08,00,000c)Rs 2,04,00,000d)Rs 1,98,00,000Correct answer is option 'D'. Can you explain this answer? has been provided alongside types of D Ltd. issued 2,00,000 shares of Rs.100 each at a premium of Rs.20 per share payable as follows :On application Rs.20On allotment Rs.50 (including premium)On first call Rs.30On second and final call Rs.20Applications were received for 3,00,000 shares and pro rata allotment was made to applicants of 2,40,000 shares. Money excess received on application was employed on account of sum due on allotment as part of share capital. E, to whom 4,000 shares were allotted, failed to pay the allotment money and on his subsequent failure to pay the first call, his shares were forfeited and F, the holder of 6,000 shares failed to pay the two calls and his shares were forfeited after the second call. Of the forfeited shares, 8,000 shares were reissued to G at a discount of 10%, the whole of Es forfeited shares being reissued.Q.Net balance in Share Capital Account = ________.a)Rs 2,00,00,000b)Rs 2,08,00,000c)Rs 2,04,00,000d)Rs 1,98,00,000Correct answer is option 'D'. Can you explain this answer? theory, EduRev gives you an ample number of questions to practice D Ltd. issued 2,00,000 shares of Rs.100 each at a premium of Rs.20 per share payable as follows :On application Rs.20On allotment Rs.50 (including premium)On first call Rs.30On second and final call Rs.20Applications were received for 3,00,000 shares and pro rata allotment was made to applicants of 2,40,000 shares. Money excess received on application was employed on account of sum due on allotment as part of share capital. E, to whom 4,000 shares were allotted, failed to pay the allotment money and on his subsequent failure to pay the first call, his shares were forfeited and F, the holder of 6,000 shares failed to pay the two calls and his shares were forfeited after the second call. Of the forfeited shares, 8,000 shares were reissued to G at a discount of 10%, the whole of Es forfeited shares being reissued.Q.Net balance in Share Capital Account = ________.a)Rs 2,00,00,000b)Rs 2,08,00,000c)Rs 2,04,00,000d)Rs 1,98,00,000Correct answer is option 'D'. Can you explain this answer? tests, examples and also practice CA Foundation tests.
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