CBSE 2025 · Region 1 · Set 3 · Q23

MK Ltd. was registered with an authorised capital of ₹ $\displaystyle 9,00,000$ divided into $\displaystyle 90,000$ equity shares of ₹ $\displaystyle 10$ each. The company offered to the public for subscription $\displaystyle 80,000$ equity shares. Applications were received for $\displaystyle 78,000$ 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 ₹ $\displaystyle 3$ per shares on $\displaystyle 1,000$ shares allotted to Manisha. Her shares were forfeited. Answer the following questions : (i) The amount of 'Calls in Arrears' disclosed in 'Notes to Accounts' will he : (A) Nil (B) ₹ $\displaystyle 2,34,000$ (C) ₹ $\displaystyle 7,000$ (D) ₹ $\displaystyle 3,000$ (ii) The number of shares of MK Ltd. after forfeiture will be : (A) $\displaystyle 78,000$ (B) $\displaystyle 89,000$ (C) $\displaystyle 79,000$ (D) $\displaystyle 77,000$ (iii) In the 'Notes to Accounts', the amount disclosed under 'Share Forfeiture Account' will be : (A) Nil (B) ₹ $\displaystyle 7,000$ (C) ₹ $\displaystyle 3,000$ (D) ₹ $\displaystyle 10,000$ (iv) In the 'Notes to Accounts', the amount disclosed under 'Issued Capital' will be : (A) ₹ $\displaystyle 9,00,000$ (B) ₹ $\displaystyle 7,80,000$ (C) ₹ $\displaystyle 8,00,000$ (D) ₹ $\displaystyle 7,70,000$ (V) Balance in 'Share Forfeiture Account' will be shown in 'Notes to Accounts' in the Balance Sheet of MK Ltd. under : (A) Will not be shown in 'Notes to Accounts' (B) Issued capital (C) Authorised capital (D) Subscribed capital (vi) The amount of 'Share Capital' disclosed in the Balance Sheet of MK Ltd. will be $\displaystyle 1$ (A) ₹ $\displaystyle 7,80,000$ (B) ₹ $\displaystyle 7,723,000$ (C) ₹ $\displaystyle 7,77,000$ (D) ₹ $\displaystyle 7,87,000$