CBSE 2026 · Region 4 · Set 1 · Q23

Bright Motors Ltd. was registered with an authorised capital of s $\displaystyle 10,00,00,000$ divided into equity shares of $\displaystyle 2$ $\displaystyle 100$ each. The company issued $\displaystyle 3,00,000$ shares to the public for subscription. The amount was payable as follows : On application $\displaystyle 30$ per share On allotment $\displaystyle 50$ per share On first and final call balance All the shares were fully subscribed. All amounts were duly received except from Raman, a holder of $\displaystyle 500$ shares, who failed to pay the first and final call. Answer the following questions : (i) Total number of shares into which the authorised share capital of the company is divided, is : (A) $\displaystyle 10,00,00,000$ (B) $\displaystyle 1,00,00,000$ (C) $\displaystyle 10,00,000$ (D) $\displaystyle 3,00,000$ (ii) Amount of ' Subscribed and fully paid- up capital' of Bright Motors Ltd. will be : (A) ₹ $\displaystyle 2,99,50,000$ (B) $\displaystyle 3,00,00,000$ (C) ₹ $\displaystyle 10,00,00,000$ (D) $\displaystyle 2,99,90,000$ (iii) Amount of ' Subscribed but not fully paid- up capital' of Bright Motors Ltd. will be : (A) ₹ $\displaystyle 2,99,90,000$ (B) ₹ $\displaystyle 2,99,50,000$ (C) ₹ $\displaystyle 3,00,00,000$ (D) ₹ $\displaystyle 40,000$ (iv) Amount of 'Share Capital' to be presented in the Balance Sheet of Bright Motors Ltd. will be : (A) ₹ $\displaystyle 3,00,00,000$ (B) ₹ $\displaystyle 2,99,50,000$ (C) ₹ $\displaystyle 2,99,90,000$ (D) ₹ $\displaystyle 10,00,00,000$ (v) If the defaulting $\displaystyle 500$ shares are forfeited, 'Share Forfeiture Account' will be shown in the 'Notes to Accounts' at : (A) ₹ $\displaystyle 10,000$ (B) ₹ $\displaystyle 40,000$ (C) ₹ $\displaystyle 50,000$ (D) ₹ $\displaystyle 5,000$ (vi) If all the forfeited shares are reissued @ $\displaystyle 90$ per share fully "é paid-up, the amount credited to Capital Reserve Account will be : (A) ₹ $\displaystyle 35,000$ (B) ₹ $\displaystyle 40,000$ (C) ₹ $\displaystyle 10,000$ (D) ₹ $\displaystyle 50,000$