All Courses
Explore Courses UPSC Exam UPSC Test Series Free Notes EduRev Infinity Get the App Login Join for Free
Sign in Open App
CA Foundation Exam  >  CA Foundation Questions  >  The Authorised capital (Rs 10 per share) of a... Start Learning for Free
SaveJoin the Discussion on the App
The Authorised capital (Rs 10 per share) of a company is Rs 5 lakhs, Issued capital Rs 3 lakhs and subscribed Capital Rs 2 lakhs. It has received Rs 5 per share on application and allotment and Rs 2 per share on first call except on 2,500 shares, which have not been forfeited. Share capital A/c is credited by A- Rs. 1,35,000 B- Rs. 2,10,000 C- Rs. 1,40,000 D- Rs. 3,50,000?
Clear all your CA Foundation doubts with EduRev
Most Upvoted Answer
The Authorised capital (Rs 10 per share) of a company is Rs 5 lakhs, I...
Calculation of Share Capital

Authorized Capital: Rs 5,00,000 (Rs 10 per share)
Issued Capital: Rs 3,00,000
Subscribed Capital: Rs 2,00,000

Amount received on share:

On application and allotment: Rs 5 per share
On first call: Rs 2 per share (except on 2,500 shares)

Number of shares issued = Issued capital/ Face value per share
= Rs 3,00,000 / Rs 10
= 30,000 shares

Number of shares subscribed = Subscribed capital/ Face value per share
= Rs 2,00,000 / Rs 10
= 20,000 shares

Amount received on application and allotment:
= Rs 5 per share x 20,000 shares
= Rs 1,00,000

Amount received on first call:
= Rs 2 per share x (20,000 shares – 2,500 shares)
= Rs 35,000

Amount received on 2,500 shares not forfeited:
= Rs 10 per share – Rs 5 per share – Rs 2 per share
= Rs 3 per share x 2,500 shares
= Rs 7,500

Total amount credited to Share Capital A/c:
= Amount received on application and allotment + Amount received on first call + Amount received on 2,500 shares not forfeited
= Rs 1,00,000 + Rs 35,000 + Rs 7,500
= Rs 1,42,500

Therefore, the answer is C-Rs. 1,40,000.

Explanation:

The company's authorized capital is Rs 5,00,000, divided into Rs 10 shares. The issued capital is Rs 3,00,000, which means that 30,000 shares have been issued. The subscribed capital is Rs 2,00,000, which means that 20,000 shares have been subscribed by investors.

The company received Rs 5 per share on application and allotment, which amounts to Rs 1,00,000. On the first call, the company received Rs 2 per share, except on 2,500 shares which were not forfeited. This amounts to Rs 35,000. On the 2,500 shares that were not forfeited, the company received Rs 3 per share, which amounts to Rs 7,500.

Therefore, the total amount credited to the Share Capital A/c is Rs 1,42,500.
Community Answer
The Authorised capital (Rs 10 per share) of a company is Rs 5 lakhs, I...
As the shares are not forfeited, we write the due entry before money received.
share application alc. Dr
share allotment alc. Dr
first/final call alc. Dr
To share capital alc
so, 2lakhs×10=20lakhs
Explore Courses for CA Foundation exam

Similar CA Foundation Doubts

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.Amount transferred to Share forfeiture account at the time of forfeiting Es shares = _________.

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 = ________.

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.Amount refunded to shareholders = __________.

Use the following information for questions 10 to 23D 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.Amount received on application = ___________.

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 Capital Reserve Account = ________.

Top Courses for CA FoundationView all

Top Courses for CA Foundation

The Authorised capital (Rs 10 per share) of a company is Rs 5 lakhs, Issued capital Rs 3 lakhs and subscribed Capital Rs 2 lakhs. It has received Rs 5 per share on application and allotment and Rs 2 per share on first call except on 2,500 shares, which have not been forfeited. Share capital A/c is credited by A- Rs. 1,35,000 B- Rs. 2,10,000 C- Rs. 1,40,000 D- Rs. 3,50,000?
Question Description
The Authorised capital (Rs 10 per share) of a company is Rs 5 lakhs, Issued capital Rs 3 lakhs and subscribed Capital Rs 2 lakhs. It has received Rs 5 per share on application and allotment and Rs 2 per share on first call except on 2,500 shares, which have not been forfeited. Share capital A/c is credited by A- Rs. 1,35,000 B- Rs. 2,10,000 C- Rs. 1,40,000 D- Rs. 3,50,000? 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 The Authorised capital (Rs 10 per share) of a company is Rs 5 lakhs, Issued capital Rs 3 lakhs and subscribed Capital Rs 2 lakhs. It has received Rs 5 per share on application and allotment and Rs 2 per share on first call except on 2,500 shares, which have not been forfeited. Share capital A/c is credited by A- Rs. 1,35,000 B- Rs. 2,10,000 C- Rs. 1,40,000 D- Rs. 3,50,000? covers all topics & solutions for CA Foundation 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for The Authorised capital (Rs 10 per share) of a company is Rs 5 lakhs, Issued capital Rs 3 lakhs and subscribed Capital Rs 2 lakhs. It has received Rs 5 per share on application and allotment and Rs 2 per share on first call except on 2,500 shares, which have not been forfeited. Share capital A/c is credited by A- Rs. 1,35,000 B- Rs. 2,10,000 C- Rs. 1,40,000 D- Rs. 3,50,000?.
Solutions for The Authorised capital (Rs 10 per share) of a company is Rs 5 lakhs, Issued capital Rs 3 lakhs and subscribed Capital Rs 2 lakhs. It has received Rs 5 per share on application and allotment and Rs 2 per share on first call except on 2,500 shares, which have not been forfeited. Share capital A/c is credited by A- Rs. 1,35,000 B- Rs. 2,10,000 C- Rs. 1,40,000 D- Rs. 3,50,000? 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 The Authorised capital (Rs 10 per share) of a company is Rs 5 lakhs, Issued capital Rs 3 lakhs and subscribed Capital Rs 2 lakhs. It has received Rs 5 per share on application and allotment and Rs 2 per share on first call except on 2,500 shares, which have not been forfeited. Share capital A/c is credited by A- Rs. 1,35,000 B- Rs. 2,10,000 C- Rs. 1,40,000 D- Rs. 3,50,000? defined & explained in the simplest way possible. Besides giving the explanation of The Authorised capital (Rs 10 per share) of a company is Rs 5 lakhs, Issued capital Rs 3 lakhs and subscribed Capital Rs 2 lakhs. It has received Rs 5 per share on application and allotment and Rs 2 per share on first call except on 2,500 shares, which have not been forfeited. Share capital A/c is credited by A- Rs. 1,35,000 B- Rs. 2,10,000 C- Rs. 1,40,000 D- Rs. 3,50,000?, a detailed solution for The Authorised capital (Rs 10 per share) of a company is Rs 5 lakhs, Issued capital Rs 3 lakhs and subscribed Capital Rs 2 lakhs. It has received Rs 5 per share on application and allotment and Rs 2 per share on first call except on 2,500 shares, which have not been forfeited. Share capital A/c is credited by A- Rs. 1,35,000 B- Rs. 2,10,000 C- Rs. 1,40,000 D- Rs. 3,50,000? has been provided alongside types of The Authorised capital (Rs 10 per share) of a company is Rs 5 lakhs, Issued capital Rs 3 lakhs and subscribed Capital Rs 2 lakhs. It has received Rs 5 per share on application and allotment and Rs 2 per share on first call except on 2,500 shares, which have not been forfeited. Share capital A/c is credited by A- Rs. 1,35,000 B- Rs. 2,10,000 C- Rs. 1,40,000 D- Rs. 3,50,000? theory, EduRev gives you an ample number of questions to practice The Authorised capital (Rs 10 per share) of a company is Rs 5 lakhs, Issued capital Rs 3 lakhs and subscribed Capital Rs 2 lakhs. It has received Rs 5 per share on application and allotment and Rs 2 per share on first call except on 2,500 shares, which have not been forfeited. Share capital A/c is credited by A- Rs. 1,35,000 B- Rs. 2,10,000 C- Rs. 1,40,000 D- Rs. 3,50,000? tests, examples and also practice CA Foundation tests.
Explore Courses for CA Foundation exam

Top Courses for CA Foundation

Explore Courses

Suggested Free Tests

Signup for Free!
Signup to see your scores go up within 7 days! Learn & Practice with 1000+ FREE Notes, Videos & Tests.
10M+ students study on EduRev
Get App
© EduRev
Education Revolution
Signup to see your scores go up within 7 days!
Access 1000+ FREE Docs, Videos and Tests
Takes less than 10 seconds to signup