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12th Class Accountancy Financial Statement Of Company Question Bank MCQs - Financial Statements of a Company

  • question_answer
    A company has issued 2,00,000 equity shares of Rs. 10 each and it has called the entire nominal value of the share. It has received the entire amount except final call of Rs. 3 per share on 5,000 shares. Subscribed capital will be shown as follows:

    A)
    Subscribed and fully paid
    2,00,000 Equity shares of Rs. 10 each 20,00,000
    Less; Calls-in-arrears 15,000 19,85,000

    B)
    Subscribed but not fully paid
    2,00,000 Equity shares of Rs. 10 each 20,00,000
    Less: Calls-in-arrears 15,000 19,85,000

    C)
    Subscribed and fully paid
    1,95,000 Equity shares of Rs. 10 each19,50,000
    Subscribed but not fully paid
    5,000 Equity shares of Rs. 10 each 50,000
    Less; Calls-in-arrears 15,000 35,000
    19,85,000

    D) Can be shown as [b] or as [c]

    Correct Answer: C

    Solution :

    Subscribed and fully paid
    1,95,000 Equity shares of Rs. 10 each19,50,000
    Subscribed but not fully paid
    5,000 Equity shares of Rs. 10 each 50,000
    Less; Calls-in-arrears 15,000 35,000
    19,85,000


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