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Following amounts were payable on issue of shares by a company: ₹ 3 on application, ₹ 3 on allotment, ₹ 2 on first call and ₹ 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
Correct answer is option 'B'. Can you explain this answer?
Most Upvoted Answer
Following amounts were payable on issue of shares by a company: 3 on ...
Calculation of Calls-in-Arrear

Given information:
- Amount payable on issue of shares: 3 on application, 3 on allotment, 2 on first call, and 2 on final call
- X holding 500 shares paid only application and allotment money
- Y holding 400 shares did not pay final call

Total amount payable per share = 3 + 3 + 2 + 2 = 10

Total amount payable by X = 500 x 10 = 5000
Amount paid by X = (3 + 3) x 500 = 3000
Amount due from X = 5000 - 3000 = 2000

Total amount payable by Y = 400 x 10 = 4000
Amount paid by Y = (3 + 3 + 2) x 400 = 3200
Amount due from Y = 4000 - 3200 = 800

Therefore, the total amount of calls-in-arrear = amount due from X + amount due from Y = 2000 + 800 = 2800

Hence, option B is the correct answer, i.e., the amount of calls-in-arrear is 2,800.
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Community Answer
Following amounts were payable on issue of shares by a company: 3 on ...
Call -in-arrear for X
First call = 500 x 2 = 1,000
Final call = 500 x 2 = 1,000
Call-in-arrear for Y
Final call = 400 x 2 = 800
Total call-in-arrear
= 1,000 + 1,000 + 800 = ₹ 2,800
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Following amounts were payable on issue of shares by a company: 3 on application, 3 on allotment, 2 on first call and 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 bea) 3,800b)2,800c) 1,800d) 6,200Correct answer is option 'B'. Can you explain this answer?
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Following amounts were payable on issue of shares by a company: 3 on application, 3 on allotment, 2 on first call and 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 bea) 3,800b)2,800c) 1,800d) 6,200Correct answer is option 'B'. Can you explain this answer? for Class 12 2024 is part of Class 12 preparation. The Question and answers have been prepared according to the Class 12 exam syllabus. Information about Following amounts were payable on issue of shares by a company: 3 on application, 3 on allotment, 2 on first call and 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 bea) 3,800b)2,800c) 1,800d) 6,200Correct answer is option 'B'. Can you explain this answer? covers all topics & solutions for Class 12 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Following amounts were payable on issue of shares by a company: 3 on application, 3 on allotment, 2 on first call and 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 bea) 3,800b)2,800c) 1,800d) 6,200Correct answer is option 'B'. Can you explain this answer?.
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