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The directors of E Ltd. made the final call of Rs.30 per share on May 15, 2004 indicating the last date of payment of call money to be May 31, 2004. Mr.F, holding 5,000 shares paid the call money on July 15, 2004.If the company adopts Table A, the amount of interest on calls-in-arrear to be paid by Mr.F = ?
- a)Rs.625.00
- b)Rs.937.50
- c)Rs.750.00
- d)Rs.1,125.00
Correct answer is 'B'. Can you explain this answer?
Most Upvoted Answer
The directors of E Ltd. made the final call of Rs.30 per share on May ...
Calculation of interest on calls-in-arrears:
- The call money was due on May 31, 2004, and Mr. F paid it on July 15, 2004, which means he was in arrears for 45 days (from June 1 to July 15).
- The rate of interest on calls-in-arrears is usually mentioned in the Articles of Association or Table A of the Companies Act. If it is not mentioned, then it is calculated at the rate of 10% per annum.
- In this case, let's assume that Table A applies, and it mentions the rate of interest on calls-in-arrears as 5% per annum.
- Therefore, the interest payable by Mr. F on his 5,000 shares for 45 days would be:
= (5,000 shares x Rs.30 per share x 5% per annum x 45/365 days)
= Rs. 937.50
Hence, the correct answer is option (b) Rs. 937.50.
- The call money was due on May 31, 2004, and Mr. F paid it on July 15, 2004, which means he was in arrears for 45 days (from June 1 to July 15).
- The rate of interest on calls-in-arrears is usually mentioned in the Articles of Association or Table A of the Companies Act. If it is not mentioned, then it is calculated at the rate of 10% per annum.
- In this case, let's assume that Table A applies, and it mentions the rate of interest on calls-in-arrears as 5% per annum.
- Therefore, the interest payable by Mr. F on his 5,000 shares for 45 days would be:
= (5,000 shares x Rs.30 per share x 5% per annum x 45/365 days)
= Rs. 937.50
Hence, the correct answer is option (b) Rs. 937.50.
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The directors of E Ltd. made the final call of Rs.30 per share on May ...
According to table A
the interest on calls in arrears is 5%
the total amt payable is 1,50,000
the duration of delay is 1.5 months
so the interest payable is
1,50,000(5/100)(1.5/12)
=937.5
the interest on calls in arrears is 5%
the total amt payable is 1,50,000
the duration of delay is 1.5 months
so the interest payable is
1,50,000(5/100)(1.5/12)
=937.5
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The directors of E Ltd. made the final call of Rs.30 per share on May 15, 2004 indicating the last date of payment of call money to be May 31, 2004. Mr.F, holding 5,000 shares paid the call money on July 15, 2004.If the company adopts Table A, the amount of interest on calls-in-arrear to be paid by Mr.F = ?a)Rs.625.00b)Rs.937.50c)Rs.750.00d)Rs.1,125.00Correct answer is 'B'. Can you explain this answer?
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The directors of E Ltd. made the final call of Rs.30 per share on May 15, 2004 indicating the last date of payment of call money to be May 31, 2004. Mr.F, holding 5,000 shares paid the call money on July 15, 2004.If the company adopts Table A, the amount of interest on calls-in-arrear to be paid by Mr.F = ?a)Rs.625.00b)Rs.937.50c)Rs.750.00d)Rs.1,125.00Correct answer is 'B'. Can you explain this answer? for CA Foundation 2025 is part of CA Foundation preparation. The Question and answers have been prepared according to the CA Foundation exam syllabus. Information about The directors of E Ltd. made the final call of Rs.30 per share on May 15, 2004 indicating the last date of payment of call money to be May 31, 2004. Mr.F, holding 5,000 shares paid the call money on July 15, 2004.If the company adopts Table A, the amount of interest on calls-in-arrear to be paid by Mr.F = ?a)Rs.625.00b)Rs.937.50c)Rs.750.00d)Rs.1,125.00Correct answer is 'B'. Can you explain this answer? covers all topics & solutions for CA Foundation 2025 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for The directors of E Ltd. made the final call of Rs.30 per share on May 15, 2004 indicating the last date of payment of call money to be May 31, 2004. Mr.F, holding 5,000 shares paid the call money on July 15, 2004.If the company adopts Table A, the amount of interest on calls-in-arrear to be paid by Mr.F = ?a)Rs.625.00b)Rs.937.50c)Rs.750.00d)Rs.1,125.00Correct answer is 'B'. Can you explain this answer?.
The directors of E Ltd. made the final call of Rs.30 per share on May 15, 2004 indicating the last date of payment of call money to be May 31, 2004. Mr.F, holding 5,000 shares paid the call money on July 15, 2004.If the company adopts Table A, the amount of interest on calls-in-arrear to be paid by Mr.F = ?a)Rs.625.00b)Rs.937.50c)Rs.750.00d)Rs.1,125.00Correct answer is 'B'. Can you explain this answer? for CA Foundation 2025 is part of CA Foundation preparation. The Question and answers have been prepared according to the CA Foundation exam syllabus. Information about The directors of E Ltd. made the final call of Rs.30 per share on May 15, 2004 indicating the last date of payment of call money to be May 31, 2004. Mr.F, holding 5,000 shares paid the call money on July 15, 2004.If the company adopts Table A, the amount of interest on calls-in-arrear to be paid by Mr.F = ?a)Rs.625.00b)Rs.937.50c)Rs.750.00d)Rs.1,125.00Correct answer is 'B'. Can you explain this answer? covers all topics & solutions for CA Foundation 2025 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for The directors of E Ltd. made the final call of Rs.30 per share on May 15, 2004 indicating the last date of payment of call money to be May 31, 2004. Mr.F, holding 5,000 shares paid the call money on July 15, 2004.If the company adopts Table A, the amount of interest on calls-in-arrear to be paid by Mr.F = ?a)Rs.625.00b)Rs.937.50c)Rs.750.00d)Rs.1,125.00Correct answer is 'B'. Can you explain this answer?.
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The directors of E Ltd. made the final call of Rs.30 per share on May 15, 2004 indicating the last date of payment of call money to be May 31, 2004. Mr.F, holding 5,000 shares paid the call money on July 15, 2004.If the company adopts Table A, the amount of interest on calls-in-arrear to be paid by Mr.F = ?a)Rs.625.00b)Rs.937.50c)Rs.750.00d)Rs.1,125.00Correct answer is 'B'. Can you explain this answer?, a detailed solution for The directors of E Ltd. made the final call of Rs.30 per share on May 15, 2004 indicating the last date of payment of call money to be May 31, 2004. Mr.F, holding 5,000 shares paid the call money on July 15, 2004.If the company adopts Table A, the amount of interest on calls-in-arrear to be paid by Mr.F = ?a)Rs.625.00b)Rs.937.50c)Rs.750.00d)Rs.1,125.00Correct answer is 'B'. Can you explain this answer? has been provided alongside types of The directors of E Ltd. made the final call of Rs.30 per share on May 15, 2004 indicating the last date of payment of call money to be May 31, 2004. Mr.F, holding 5,000 shares paid the call money on July 15, 2004.If the company adopts Table A, the amount of interest on calls-in-arrear to be paid by Mr.F = ?a)Rs.625.00b)Rs.937.50c)Rs.750.00d)Rs.1,125.00Correct answer is 'B'. Can you explain this answer? theory, EduRev gives you an
ample number of questions to practice The directors of E Ltd. made the final call of Rs.30 per share on May 15, 2004 indicating the last date of payment of call money to be May 31, 2004. Mr.F, holding 5,000 shares paid the call money on July 15, 2004.If the company adopts Table A, the amount of interest on calls-in-arrear to be paid by Mr.F = ?a)Rs.625.00b)Rs.937.50c)Rs.750.00d)Rs.1,125.00Correct answer is 'B'. Can you explain this answer? tests, examples and also practice CA Foundation tests.
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