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प्रश्न
Give one word/term/phrase for the following statement.
Amount called-up on shares by the company but not received.
उत्तर
Amount called-up on shares by the company but not received. - Calls-in-Arrears.
APPEARS IN
संबंधित प्रश्न
On 1st April, 2012; Vivek Ltd. Was formed with an authorized capital of Rs.1,00,00,000 divided into 2,00,000 equity shares of Rs.50 each. The company issued prospectus inviting applications for 1,80,000 shares. The issue price was payable as under:
On Application: Rs.15
On Allotment: Rs.20
On Call: Balance amount
The issue was fully subscribed and the company allotted shares to all the applicants. The company did not make the call during the year.
Show the following:
a. Share capital in the Balance Sheet of the company as per revised Schedule-VI, Part-I of the Companies Act, 1956.
b. Also prepare 'Notes to Accounts' for the same.
'Sangam Woolens Ltd.', Ludhiana, are the manufacturers and exporters of woollen garments. The company decided to distribute free of cost woollen garments to 10 villages of Lahaul and Spiti District of Himachal Pradesh. The company also decided to employ 50 young persons from this village in its newly established factory. The company issued 40,000 equity shares of Rs 10 each and 1,000 9% debentures of Rs 100 each to the vendors for the purchase of machinery of Rs 5,00,000. Pass necessary Journal Entries. Also, identify anyone value that the company wants to communicate to the society.
Scooters India Ltd' is registered with an authorized capital of Rs 50,00,000, divided into 5,00,000 shares of Rs 10 each. The company issued 1, 00,000 shares for subscriptions to the public at par. The amount was payable as follows :
On application and allotment - Rs 3 per share
On 1st call - Rs 2 per share
On 2nd and final call - Rs 5 per share
The issue was fully subscribed. All calls were made and were duly received except 2nd and the final call on 1,000 shares held by Rohan. His shares were forfeited and afterwards re-issued at Rs 8 per share as fully paid up. Present 'Share Capital' in the Balance Sheet of the company as per Schedule VI of the Companies Act, 1956. Also, prepare Notes to accounts for the same.
'David Ltd.' issued `40, 00,000 equity shares of Rs 10 each out of its registered capital of Rs 10,00,00,000. The amount payable on these shares was as follows :
On application - Rs 1 per share
On allotment - Rs 2 per share
On the first call - Rs 3 per share
On second and final call - Rs 4 per share
All calls were made and were duly received, except the second and final call on 1,000 shares held by Vipul. These shares were forfeited.
Present the 'Share Capital' in the Balance Sheet of the company as per Schedule VI Part I of the Companies Act, 1956. Also, prepare 'Notes to Accounts'.
On 1st April 2012, Mayank Ltd. was formed with an authorised capital of Rs 25,00,000 divided into 50,000 equity shares of Rs 50 each. The company issued a prospectus inviting applications for 45,000 shares. The issue price was payable as under :
On Application: Rs 15
On Allotment: Rs 20
On Call: Balance amount
The issue was fully subscribed and the company allotted shares to all the applicants. The company did not make the call during the year. Show the following:
(a) Share capital in the Balance Sheet of the company as per revised Schedule-VI, Part-I of the Companies Act, 1956.
(b) Also, prepare 'Notes to Accounts' for the same.
Y Ltd. forteited 100 equity shares of Rs 10 each for the non-payment of first call of Rs 2 per share. The final call of Rs 2 per share was yet to be made.
Suman and Sudha were partners in a firm sharing profits equally. Their fixed capitals were Rs 50,000 and Rs 25,000 respectively. The partnership deed provided interest on capital at the rate of 12% per annum. For the year ended 31stMarch, 2016, the profits of the firm were distributed without providing interest on capital.
Pass necessary adjustment entry to rectify the error.
Z Ltd. forfeited 1000 equity shares of Rs 10 each for the non-payment of the final call of Rs 2 per share. Calculate the maximum amount of discount at which these shares can be reissued.
List the categories of individuals other than the minors who cannot become the members of a partnership firm
Share forfeited balance is transferred to Capital Reserve Account.
Premium received on issue of shares is shown to __________.
The liability of shareholder in Joint Stock Company is _________.
The unpaid amount on allotment and calls may be transferred to _____________ account.
Give one word/term/phrase for the following statement.
The shares on which dividend is not fixed.
Give one word/term/phrase for the following statement.
The part of subscribed capital which is not called-up by the company.
State true or false with reason.
Face value of shares and market value of shares is always same.
State whether you agree or disagree with following statement.
Calls in Advance account is shown on the Asset side of the Balance sheet.
State whether you agree or disagree with following statement:
The Authorised capital is also known as Nominal Capital.
State whether you agree or disagree with following statement:
When the issued price of share is ₹ 12 and face value is ₹ 10, the share is said to be issued at premium.
Answer in one sentence only.
When are shares allotted on pro-rata basis?
Answer in one sentence only.
What is Calls-in-Arrears?
Answer in one sentence only.
What do you mean by Shares Issued at Premium?
Answer in one sentence only.
What is Paid-up Capital?
___________ Capital is the Capital which a company is authorised to issue by its Memorandum of Association.
___________ Capital is the part of issued capital which is subscribed by the public.
10000 equity shares of ₹ 10 each issued at 10% premium. Calculate the total amount of share premium.
Directors issued 20000 equity shares of ₹ 100 each at par. These were fully subscribed and called up. All money were received except one shareholder holding 100 equity shares failed to pay final call of ₹ 20 per share. Calculate the amount of paid-up capital of the company
Company sends Regret letter for 100 shares and Allotment letter to 25000 shareholders. Application money was ₹ 20 per share. Calculate the amount of application money which company is refunding.
Vijay Ltd. was registered with an authorised capital of ₹ 15,00,000 divided into 1,50,000 equity shares of ₹ 10 each.
Company issued 1,00,000 equity shares of ₹ 10 each at a premium of ₹ 2 per share.
Company received applications for 80,000 equity shares and were allotted the shares.
Company received application money ₹ 3 per share, allotment money ₹ 4 per share (Including premium), and first call money ₹ 3 per share.
The Directors have not made final call of ₹ 2 per share. All money were received except one shareholder holding 500 shares did not pay first call.
Show Authorised Capital, Issued Capital, Subscribed Capital, Called-up Capital, Paid-up Capital, Calls in Arrears, and Share Premium amount in company balance sheet.
Anand Company Limited issued 1,00,000 Preference shares of ? 10 each payable as - On
On Application ₹ 4
On Allotment ₹ 3
On First call ₹ 2
On Second and Final call ₹ 1
Company received application for all these share and received all money.
Pass Journal Entries in the books of Anand Company Ltd.
Rohini Company Limited issued 25000 equity shares of ₹ 100 each payable as follows -
On Application ₹ 20
On Allotment ₹ 30
On First call ₹ 20
On Second & Final call ₹ 30
Applications were received for 22,000 equity shares and allotment of shares were made to them. All money was received by the company.
Pass Journal Entries in the books of Rohini Co. Ltd.
Sucheta Company Limited issued ₹ 20,00,000 new capital divided into ₹ 100 equity shares at a Premium of ₹ 20 per share payable as ₹ 10 on Application ₹ 40 on Allotment and ₹ 10 premium ₹ 50 on Final call and ₹ 10 premium.
The issue was oversubscribed to the extent of 26000 equity shares. The applicants on 2000 shares were sent letter of regret and their application money was refunded. Remaining applicants were alloted share on pro-rata basis. All the money due on Allotment and Final call was duly received.
Make necessary Journal entries in the books of Sucheta Company Ltd.
Suhas Limited issued 10000 equity shares of ₹ 10 each at a premium of ₹ 2 per share payable ₹ 3 on application, ₹ 5 (including premium) on allotment and the balance in two calls of equal amount. Applications were received for ll,000 equity shares and pro-rata allotment was made for all the applicants. The excess application money was adjusted towards allotment. Mrs. Shobha who were allotted 200 equity shares failed to pay F/F/C and her shares were forfeited after the final call
Show Journal entries in the books of Suhas Ltd. and also show its presentation in Balance sheet.
Subhash Company Limited issues 2000 Equity shares of ₹100 each payable as ₹ 30 on application, ₹ 30 on allotment, ₹ 40 on first and final call. All the shares were subscribed and duly allotted. Company made all the calls. All cash was duly received except the first & final call on 100 equity shares. These shares were forfeited by company and were re-issued as fully paid for ₹75 per share.
Show the Journal entries in the books of Subhash Company Ltd.
State whether you agree or disagree with following statement
Joint Stock company can raise huge amount of capital.
As per Section 52 of Companies Act 2013, Securities Premium Reserve cannot be utilised for ______.
Krishan Ltd has Issued Capital of 20, 00,000 Equity shares of ₹10 each. Till Date ₹8 per share have been called up and the entire amount received except calls of ₹4 per share on 800 shares and ₹3 per share from another holder who held 500 shares. What will be amount appearing as ‘Subscribed but not fully paid capital’ in the balance sheet of the company?
Alankrit Ltd. offered for public 10,000 equity shares of ₹ 10 each at a premium of ₹ 12/- per share payable as under:
- On Application - ₹ 4
- On Allotment - ₹ 4 (including premium)
- On First & Final Call- Balance Amount
Company received all the money. The issue was fully subscribed. Give Journal Entries to record above transactions and also show in balance sheet.
Sameer and Company Limited invited applications for 25,000 Equity shares of ₹ 100 each payable as:
₹ 25 on application
₹ 50 on allotment
₹ 25 on first and final call
Applications were received for 30,000 Equity shares and pro-rata allotment were made to all. All the money was duly received except first and final call on 2,500 Equity shares. Enter the above transactions in the books of Sameer and Company Limited.
Which of the following statements is true?
Narmada Ltd. has an authorised capital of ₹ 10,00,000 divided into equity shares of ₹ 10 each. The company issued a prospectus inviting applications for issuing 80,000 equity shares. The company received applications for 75,000 equity shares. All calls were made and were duly received except the first and final call of ₹ 2 per share on 5,000 shares held by Arti. These shares were forfeited.
- Present the share capital in the Balance Sheet of the company as per Schedule III, Part I of the Companies Act, 2013.
- Also prepare 'Notes to Accounts' for the same.
Vani Limited invited applications for issuing 1,00,000 equity shares of ₹ 10 each at a premium of 10%. The amounts were payable as under: On Application and Allotment - ₹ 4 per share (including premium ₹ 1)
On first call -₹ 4 per share
On second and final call - ₹ 3 per share
Applications for1,50,000 shares were received and pro-rata allotment was made to all the applicants. Excess application money was adjusted towards sums due on calls. Parth, a shareholder who had applied for 600 shares did not pay the first call. His shares were forfeited. The second and final call was not yet made. Half of the forfeited shares were reissued at ₹ 8 per share fully paid-up.
Journalise the above transactions in the books of Vani Limited by opening calls in arrears and calls in advance account wherever necessary.
Unnati Ltd. was registered with an authorised capital of ₹ 80,00,000 divided into equity shares of ₹ 10 each. The company issued a prospectus inviting applications for 60,000 equity shares. The company received applications for 58,000 equity shares. All calls were made and were duly received except the second and final call of ₹ 3 per share on 3,000 shares held by Manit. These shares were forfeited.
- Present the share capital in the Balance Sheet of the company as per Schedule III, Part I of the Companies Act, 2013.
- Also prepare "Notes to Accounts" for the same.
Akasha Company Limited issued 25,000 equity shares of ~ 10 each payable as follows:
| On Application | ₹ 2 |
| On Allotment | ₹ 2 |
| On First call | ₹ 3 |
| On Final call | ₹ 3 |
Applications were received for 24,000 equity shares and allotment of shares were made to them. All money was received by the company.
Pass Journal Entries in the books of Akasha Company Limited.
Subscription received in current year is ₹ 1,20,000. Current year's outstanding subscription is ₹ 20,000 and subscription received in advance is ₹ 10,000. Find out net subscription amount of current year
The liability of shareholder of public limited company is ______.
Parth Company Limited was registered with an authorised capital of ₹ 30,00,000 divided into 3,00,000 equity shares of ₹ 10 each. Company issued 2,00,000 equity shares of ₹ 10 each at a premium of ₹ 2 per share. Company received applications for 1,60,000 equity shares and were allotted the shares.
Company received application money ₹ 3 per share, allotment money ₹ 4 per share (including premium) and first call money ₹ 3 per share.
The Directors have not made final call of ₹ 2 per share. All money were received except one shareholder holding 1,000 shares did not pay the first call.
Show Authorised capital, Issued capital, Subscribed capital, Called-up capital, Paid-up capital, Calls-in-Arrears and Share Premium amount in company Balance Sheet.
