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Categories Of Share Capital...

Categories Of Share Capital

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A company is registered with an authorised capital of 1,25,000 Equity Shares of Rs. 10 each. The company offered 80,000 Equity Shares to the public for subscription payable as follows: 25% on application, 25% on allotment, 25% on first call, the balance on final call. Applications were received for 75,000 shares. The company duly allotted these shares. It made only the first call by 31 st March, 2019. The first call money was received on all the shares except 300 Equity Shares. What is the Company's: (i) Authorised Share Capital, (ii) Issued Share Capital, (iii) Subscribed Share Capital, and (iv) Calls-in-Arrears?

Ben Tech Ltd. company had an authorised capital of Rs. 12,50,000 divided into 12,500 shares of Rs. 100 each. The company issued 10,000 shares payable as Rs. 25 on application, Rs. 25 on allotment, Rs. 30 on first call and Rs. 20 on second and final call. All the shares were subscribed. The Directors made allotment and the money was duly received except the second and final call on 500 shares, which is transferred to Call-in-Arrears Account. Pass Journal entries, prepare Share Capital Account and show how share capital will appear in the Balance Sheet.

Knowledge Check

  • When shares are forfeited , share Capital Account is debited with

    A
    nominal value of shares.
    B
    called- up value of shares.
    C
    paid - up value of shares.
    D
    market value of shares.

  • Nominal Share Capital is

    A
    that part of authorised capital which is issued by the company
    B
    the amount of capital which is actually applied by the prospective shareholders
    C
    the amount of capital which is actually paid by the shareholders
    D
    the maximum amount of share capital which a company is authorised to issue

  • When shares are forfeited, share Capital Account is debited with

    A
    nominal value of shares
    B
    called-up value of shares
    C
    paid-up value of shares
    D
    market value of shares

    • Similar Questions

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    Beatall Sports Ltd. Has Authorised Share Capital as follows : 10,000 Equity Shares of Rs 10 each and 10,000 Preference Shares of Rs 10 each. Can the company issue 15,000 Equity Shares and 5,000 Preference Shares?

    Do you think that Calls in Advance is a part of Share Capital ?

    Sun Pharma Ltd. is registered with an authorised capital of Rs. 1,00,00,000 divided into 1,00,000 equity shares of Rs. 100 each. The company issued 50,000 shares at a premium of Rs. 40 per share. A shareholder holding 500 shares did not pay the final call of Rs. 20 per share. His shares were forfeited. Present the 'Share Capital' in the Balance Sheet of the Company as per Schedule III, Part I of the Companies Act, 2013. Also prepare Note to Accounts.

    In a partnership, A invests of the 1/6 capital for 1/6 of the time, B invests 1/3 of the capital for 1/3 of the time and C, the rest of the capital for whole time. Find A's share of the total profit of Rs. 2300.

    In a partnership, A invests 1/6 of the capital for 1/6 of the time, B invests 1/3 of the capital and 1/3 of the time and C, the rest of the capital for the whole time. Out of a profit of Rs. 4600, B's share is :

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