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.

Explanation

Calculation of Various Capitals:
(a) Authorised Capital=Rs. 10,00,000.
(b) Issued Capital=Rs. 9,00,000 (i.e., 90% of Rs. 10,00,000).
(c) Subscribed Capital=Rs. 9,00,000.
(d) Called-up Capital=Rs. 5,85,000(i.e., 65% of Rs. 9,00,000).
(e) Paid-up Capital=Rs. 5,29,000 (i.e., Rs. 3,60,000 + Rs. 1,69,000).
(f) Calls-in Arrears =Rs. 56,000 (i.e., Rs. 5,85,000-Rs. 5,29,000).