CBSE 2025 · Region 1 · Set 1 · Q23

PL Ltd. was registered with an authorised capital of ₹ $\displaystyle 10,00,000$ divided into $\displaystyle 1,00,000$ equity shares of ₹ $\displaystyle 10$ each. The company offered to the public for subscription $\displaystyle 90,000$ equity shares. Applications were received for $\displaystyle 82,000$ 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 ₹ $\displaystyle 2$ per share on $\displaystyle 2,000$ shares allotted to Atishay. His shares were forfeited. Answer the following questions : (i) The amount of 'Calls in Arrears' disclosed in 'Notes to Accounts' will he : (A) ₹ $\displaystyle 4,000$ (B) ₹ $\displaystyle 16,000$ (C) Nil (D) ₹ $\displaystyle 20,000$ (ii) The number of shares of PL Ltd. after forfeiture will be : (A) $\displaystyle 98,000$ (B) $\displaystyle 88,000$ (C) $\displaystyle 82,000$ (D) $\displaystyle 80,000$ (iii) In the 'Notes to Accounts', the amount disclosed under 'Share Forfeiture Account' will be : (A) ₹ $\displaystyle 16,000$ (B) ₹ $\displaystyle 4,000$ (C) ₹ $\displaystyle 20,000$ (D) Nil (iv) In the 'Notes to Accounts', the amount disclosed under 'Issued Capital' will be : (A) ₹ $\displaystyle 10,00,000$ (B) ₹ $\displaystyle 9,00,000$ (C) ₹ $\displaystyle 8,20,000$ (D) ₹ $\displaystyle 8,00,000$ (v) Balance in 'Share Forfeiture Account' will be shown in 'Notes to Accounts' in the balance sheet of PL Ltd. under : (A) Authorised capital (B) Issued capital (C) Subscribed capital (D) Will not be shown in 'Notes to Accounts' (vi) The amount of 'Share Capital' disclosed in the balance sheet of PL Ltd. will be : (A) ₹ $\displaystyle 8,00,000$ (B) ₹ $\displaystyle 8,165,000$ (C) ₹ $\displaystyle 9,16,000$ (D) ₹ $\displaystyle 7,90,000$