CBSE 2023 · Region 4 · Set 3 · Q10

Manmohan Ltd. invited applications for issuing $\displaystyle 50,000$ equity shares of ₹ $\displaystyle 10$ each at par. The amount payable per share was as follows : On application ₹ $\displaystyle 3$; on allotment ₹ $\displaystyle 4$ and on first and final call ₹ 3. Applications were received for $\displaystyle 1,45,000$ equity shares. Applications for $\displaystyle 20,000$ equity shares were rejected and remaining applicants were allotted shares on a pro - rata basis. Excess application money received with application was adjusted towards sums due on allotment and first and final call. Amount credited to calls-in-advance account was :

OR

Which of the following statement is correct regarding subscribed capital ?