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Accountancy · 2023 · 1 mark
CBSE 2023 · Region 4 · Set 2 · Q6
Manmohan Ltd. invited applications for issuing 50,000 equity shares of ₹ 10 each at par. The amount payable per share was as follows: On application…
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 :
Which of the following statement is correct regarding subscribed capital ?
Official answer
(a) → (B)
(b) → (C)
Marking-scheme solution
(i)
(b)
₹ $\displaystyle 25,000$
OR
Q. (ii) Which of the following statement..........................
Ans.
(ii)(c)
It is that part of the issued capital which has been actually subscribed by the public.
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CBSE Class 12 Accountancy past-paper question from the 2023 board exam, with the answer as CBSE’s own marking scheme gives it. Where our answers come from.