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Question
Tulip Ltd. allotted 45,000 Equity shares of ₹ 10 each to the public. The first and final call of ₹ 2 per share was not received on 1,000 shares, which were forfeited by the company. Later, 600 of the forfeited shares were reissued at ₹ 7 fully paid-up. What is the Subscribed Capital of the company?
Options
₹ 4,49,200
₹ 4,50,000
₹ 4,40,000
₹ 4,46,000
Solution
₹ 4,46,000
Explanation:
| Calculation of subscribed capital: | ₹ |
| Subscribed and fully paid-up | 4,40,000 |
| 44,000 shares of ₹ 10 each | 6,000 |
| 600 shares of ₹ 10 each | 4,46,000 |
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