CBSE 2026 · Region 3 · Set 3 · Q24

Astha Ltd. was registered with an authorised capital of ₹ $\displaystyle 20,00,000$ divided into shares of $\displaystyle 10$ each. On $\displaystyle 1$ T st April, $\displaystyle 2025$, the company offered to the public for subscription $\displaystyle 1,40,000$ shares. Applications for $\displaystyle 1,35,000$ shares were received and allotment was made in full to all the applicants. A shareholder holding $\displaystyle 5,000$ shares failed to pay the second and final call of $\displaystyle 2$ per share. Answer the following questions on the basis of the above information : (i) The amount of 'calls in arrears' will be : (A) ₹ $\displaystyle 5,000$ (B) ₹ $\displaystyle 50,000$ (C) ₹ $\displaystyle 40,000$ (D) ₹ $\displaystyle 10,000$ (ii) The 'subscribed and fully paid - up capital' of Astha Ltd. will be : (A) ₹ $\displaystyle 13,40,000$ (B) $\displaystyle 13,00,000$ (C) $\displaystyle 13,50,000$ (D) ₹ $\displaystyle 14,00,000$ (iii) 'Subscribed but not fully paid up - capital' of Astha Ltd. will be : (A) ₹ $\displaystyle 40,000$ (B) ₹ $\displaystyle 50,000$ (C) ₹ $\displaystyle 10,000$ (D) Nil (iv) The amount of 'share capital' to be shown in the Balance Sheet of Astha Ltd. will be : (A) ₹ $\displaystyle 13,00,000$ (B) ₹ $\displaystyle 13,10,000$ (C) ₹ $\displaystyle 13,40,000$ (D) $\displaystyle 13,50,000$ (v) If all the shares on which second and final call was not received, are forfeited, 'Share Forfeiture Account' will appear in the 'Notes to A ccounts' at : (A) ₹ $\displaystyle 10,000$ (B) ₹ $\displaystyle 50,000$ (C) ₹ $\displaystyle 5,000$ (D) ₹ $\displaystyle 40,000$ (vi) The minimum price at which the forfeited shares can be reissued is : (A) ₹ $\displaystyle 40,000$ (B) ₹ $\displaystyle 50,000$ (C) $\displaystyle 10,000$ (D) $\displaystyle 15,000$