Meetu Ltd. is registered with an authorised capital of ₹1,00,00,000 divided into equity shares of ₹10 each. The company invited application for issuing 5,00,000 equity shares at a premium of ₹3 per share. The amount was payable as follows:

On Application and Allotment – ₹8 per share (including premium)

On First call – ₹3 per share

On Second and Final call – ₹2 per share

The issue was fully subscribed. All calls were made and were duly received except from Bhola holding 5,000 shares, who could not pay the second and final call. His shares were forfeited.

Answer the following questions:

(i) The amount of share capital to be shown under the heading

(A) ₹49,90,000

(B) ₹49,50,000

(C) ₹50,00,000

(D) ₹65,00,000

(ii) Total number of shares into which the authorised share capital of the company is divided is:

(A) ₹10,00,000 (B) ₹5,00,000

(C) ₹1,00,000 (D) ₹11,50,000

(iii) Total amount of “Subscribed and fully paid-up” capital will be:

(A) ₹5,00,00,000

(B) ₹49,50,000

(C) ₹50,00,000

(D) ₹49,90,000

(iv) “Subscribed but not fully paid-up” capital will be 

(A) ₹48,500

(B) Nil

(C) ₹51,500

(D) ₹70,000

(v) The issued capital of the company is:

(A) ₹50,00,000

(B) ₹5,00,000

(C) ₹65,00,000

(D) ₹1,00,00,000

(vi) Share Forfeiture Account will appear under subscribed capital at:

(A) ₹55,000

(B) ₹50,000

(C) ₹10,000

(D) ₹40,000

Marks-6, CBSE: 2024-25/Zone-7/Set-1/Q-26