CBSE 2026 · Region 2 · Set 1 · Q23

Shanta Ltd. has an authorized capital of ₹ $\displaystyle 30,00,000$ divided into equity shares of ₹ $\displaystyle 100$ each. The company invited applications for issuing $\displaystyle 28,000$ shares. Applications for $\displaystyle 27,000$ shares were received and allotment was made to all the applicants in full. All calls were made and were duly received except on $\displaystyle 300$ shares on which the final call of ₹ $\displaystyle 20$ per share was not received. The company forfeited $\displaystyle 200$ of these shares on which final call was not received. Answer the following questions : (i) The nominal capital of the company is : (A) i $\displaystyle 2$'$\displaystyle 7,00,000$ (B) ₹ $\displaystyle 28,00,000$ (C) ₹ $\displaystyle 30,00,000$ (D) ₹ $\displaystyle 26,70,000$ (ii) The issued capital of the company is : (A) ₹ $\displaystyle 27,00,000$ (B) ₹ $\displaystyle 28,00,000$ (C) ₹ $\displaystyle 30,00,000$ (D) ₹ $\displaystyle 26,70,000$ (iii) Subscribed and fully paid-up capital of Shanta Ltd. is : (A) ₹ $\displaystyle 26,70,000$ (B) ₹ $\displaystyle 26,64,000$ (C) ₹ $\displaystyle 27,00,000$ (D) ₹ $\displaystyle 28,00,000$ (iv) The amount of 'share capital' presented in the balance sheet of Shanta Ltd. will be : (A) ₹ $\displaystyle 28,00,000$ (B) ₹ $\displaystyle 26,70,000$ (C) ₹ $\displaystyle 27,00,000$ (D) ₹ $\displaystyle 26,921,000$ (v) In the 'Notes to Accounts', the amount disclosed under 'Share Forfeiture Account' will be : (A) ₹ $\displaystyle 20,000$ (B) ₹ $\displaystyle 24,000$ (C) ₹ $\displaystyle 16,000$ (D) ₹ $\displaystyle 4,000$ (vi) The amount of 'calls in arrears' disclosed in 'Notes to Accounts' will be : (A) ₹ $\displaystyle 2,000$ (B) ₹ $\displaystyle 10,000$ (C) ₹ $\displaystyle 8,000$ (D) Nil