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Paid up capital can exceed called up cap...

Paid up capital can exceed called up capital.

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X Ltd. was formed with a capital of Rs. 10,000 divided into shares of Rs. 10 each. It offered 90% shares for subscription. 40% payable on application, 25% payable on allotment and the balance on final call. The applicants paid Rs. 3,60,000 on application and Rs. 1,69,000 on allotment. Final call had not yet been made. Calculate: (a) Authorised Capital, (b) Issued Capital, (c) Subscribed Capital, (d) Called-up Capital, (e) Paid-up Capital, (f) Calls-in-Arrears.

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