Ambrish Ltd Offered 2,00,000 Equity Shares Of ₹10 Each, of These 1,98,000 Shares Were Subscribed - Bzziii.com

Ambrish Ltd offered 2,00,000 Equity Shares of ₹10 each, of these 1,98,000 shares were subscribed. The amount was payable as ₹3 on application, ₹4 an allotment and balance on first call. If a shareholder holding 3,000 shares has defaulted on first call, what is the amount of money received on first call?

(A) ₹9,000.
(B) ₹5,85,000.
(C) ₹5,91,000.
(D) ₹6,09,000.

(B) ₹5,85,000. 

Explanation:

Amount Receivable on 1,98,000 shares @ Rs. 3 Per Share

= Rs. (1,98,000`\times`3)

= Rs. 5,94,000


Calculation for Defaulted Amount

= 3000 shares @ Rs. 3 per share

= Rs. (3,000`\times`3)

= Rs. 9,000


Amount Received on first call

= Rs. (5,94,000 - 9,000)

= Rs. 5,85,000.

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CBSE Class 12 Accountancy Sample Paper-2022