CBSE 2026 · Region 3 · Set 1 · Q24

Diksha Ltd. was registered with an authorised capital of ₹ $\displaystyle 40,00,000$ divided into shares of $\displaystyle 10$ each. On 1st April, $\displaystyle 2025$, the company offered to the public for subscription, $\displaystyle 1,20,000$ shares. Applications for $\displaystyle 1,10,000$ shares were received and allotment was made in full to all the applicants. A shareholder holding $\displaystyle 10,000$ 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) ₹ $\displaystyle 10,000$ (B) ₹ $\displaystyle 20,000$ (C) ₹ $\displaystyle 80,000$ (D) ₹ $\displaystyle 1,00,000$ (ii) The 'subscribed and fully paid - up capital' of Diksha Ltd. will be : (A) =< $\displaystyle 9,80,000$ (B) ₹ $\displaystyle 10,80,000$ (C) $\displaystyle 11,00,000$ (D) ₹ $\displaystyle 10,00,000$ (iii) 'Subscribed but not fully paid up - capital' of Diksha Ltd. will be : (A) ₹ $\displaystyle 80,000$ (B) ₹ $\displaystyle 20,000$ (C) ₹ $\displaystyle 10,000$ (D) Nil (iv) The amount of 'share capital' to be shown in the balance sheet of Diksha Ltd. will be : (A) $\displaystyle 11,00,000$ (B) ₹ $\displaystyle 10,80,000$ (C) $\displaystyle 10,00,000$ (D) ₹ $\displaystyle 9,80,000$ (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 Accounts' at : (A) ₹ $\displaystyle 20,000$ (B) ₹ $\displaystyle 80,000$ (C) ₹ $\displaystyle 1,00,000$ (D) ₹ $\displaystyle 1,80,000$ (vi) The minimum price at which the forfeited shares can be reissued is : (A) ₹ $\displaystyle 20,000$ (B) ₹ $\displaystyle 80,000$ (C) $\displaystyle 1,00,000$ (D) $\displaystyle 1,10,000$