CBSE 2025 · Region 7 · Set 1 · Q26

Meetu Ltd. is registered with an authorised capital of $\displaystyle 1,00,00,000$ divided into equity shares of $\displaystyle 10$ each. The company invited application for issuing $\displaystyle 5,00,000$ equity shares at a premium of $\displaystyle 3$ per share. The amount was payable as follows : On Application and Allotment - $\displaystyle 8$ per share (including premium) On First call - T $\displaystyle 3$ per share On Second and Final call - $\displaystyle 2$ per share The issue was fully subscribed. All calls were made and were duly received except from Bhola holding $\displaystyle 5,000$ shares, who could not pay the second and final call. His shares were forfeited. Answer the following questions : (i) The amount of share capital to be shown under the heading 'Shareholder's Funds' will be : (A) % $\displaystyle 49,90,000$ (B) $\displaystyle 49,50,000$ (C) ₹ $\displaystyle 50,00,000$ (D) $\displaystyle 65,00,000$ (ii) Total number of shares into which the authorised share capital of the company is divided is : (A) $\displaystyle 10,00,000$ (B) $\displaystyle 5,00,000$ (C) $\displaystyle 1,00,000$ (D) $\displaystyle 11,50,000$ (iii) Total amount of 'Subscribed and fully paid up' - capital will be : (A) $\displaystyle 5,00,00,000$ (B) $\displaystyle 49,50,000$ (C) ₹ $\displaystyle 50,00,000$ (D) ₹ $\displaystyle 49,90,000$ (iv) 'Subscribed but not fully paid up' - capital will be : (A) ₹ $\displaystyle 48,500$ (B) Nil (C) $\displaystyle 51,500$ (D) $\displaystyle 70,000$ (v) The issued capital of the company is : (A) ₹ $\displaystyle 50,00,000$ (B) $\displaystyle 5,00,000$ (C) $\displaystyle 65,00,000$ (D) $\displaystyle 1,00,00,000$ (vi) 'Share Forfeiture Account' will appear under subscribed capital at : (A) ₹ $\displaystyle 55,000$ (B) % $\displaystyle 50,000$ (C) ₹ $\displaystyle 10,000$ (D) $\displaystyle 40,000$