Meetu Ltd. is registered with an authorised capital of 1,00,00,000 divided into equity shares of 10 each. The company invited application for issuing…

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) $\displaystyle 40,000$