CBSE 2025 · Region 1 · Set 2 · Q23

LK Ltd. was registered with an authorised capital of ₹ $\displaystyle 15,00,000$ divided into $\displaystyle 1,50,000$ equity shares of ₹ $\displaystyle 10$ each. The company offered to the public for subscription $\displaystyle 1,415,000$ equity shares. Applications were received for $\displaystyle 1,210,000$ equity shares and shares were allotted to all the applicants. All money due was received with the exception of first and final call money of ₹ $\displaystyle 1$ per share on $\displaystyle 4,000$ shares allotted to Nupur. Her shares were forfeited. Answer the following questions : (i) The amount of 'Calls in Arrears' disclosed in 'Notes to Accounts' will he : (A) ₹ $\displaystyle 1,40,000$ (B) ₹ $\displaystyle 36,000$ (C) ₹ $\displaystyle 4,000$ (D) Nil (ii) The number of shares of LK Ltd. after forfeiture will be : (A) $\displaystyle 1,46,000$ (B) $\displaystyle 1,365,000$ (C) $\displaystyle 1,41,000$ (D) $\displaystyle 1,40,000$ (iii) In the 'Notes to Accounts', the amount disclosed under 'Share Forfeiture Account' will be : (A) ₹ $\displaystyle 4,000$ (B) ₹ $\displaystyle 36,000$ (C) ₹ $\displaystyle 40,000$ (D) Nil (iv) In the 'Notes to Accounts', the amount disclosed under 'Issued Capital' will be : (A) ₹ $\displaystyle 14,00,000$ (B) ₹ $\displaystyle 14,50,000$ (C) ₹ $\displaystyle 15,00,000$ (D) ₹ $\displaystyle 13,650,000$ (v) Balance in 'Share Forfeiture Account' will be shown in 'Notes to Accounts' in the balance sheet of LK Ltd. under : (A) Subscribed capital (B) Will not be shown in 'Notes to Accounts' (C) Issued capital (D) Authorised capital (vi) The amount of 'Share Capital' disclosed in the balance sheet of LK Ltd. will be $\displaystyle 1$ (A) ₹ $\displaystyle 13,565,000$ (B) ₹ $\displaystyle 13,641,000$ (C) ₹ $\displaystyle 13,96,000$ (D) ₹ $\displaystyle 14,00,000$