question_answer

You are required to answer the following questions 55 to 58: Following information is provided by the Gagan Ltd. on 31st March 2021:

Particulars			Note No.	Current Year's	Previous
I.	EQUITY AND LIABILITIES		Figures	Year's Figures
	(1) Shareholders Funds
		(a) Share Capital	1	?

Notes to Accounts :

	Particulars					Amount
1.	Authorised Capital _____________ Equity Shares of Rs.10 each					30,00,000
2.	Issued Capital (80% of Authorised Shares) __________Equity Shares of Rs.10 each .					?
3.	Subscribe and Fully Paid up					?
	1,98,000 Equity Shares of Rs.10 each
	Subscribed but not Fully Paid up
		? Shares x  10 each	=	20,000		?
		Less: Calls in Arrears (? Shares x Rs.3 each)	=	?
						?

Number of Shares by which company is Registered (Authorised Capital):

A) 30,00,000 Equity Shares

B) 30,000 Equity Shares

C) 3,00,000 Equity Shares

D) 40,000 Equity Shares