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CUET Accountancy 2022 PYQs23 Aug Shift 2. Free, no login required.

Company Accounts

past year questions, CUET Accountancy 2022 23 Aug Shift 2

Share Capital

past year questions, Company Accounts, CUET Accountancy 2022 23 Aug Shift 2

Medium

Raj Ltd. was registered with 70,000 equity shares. They issued 40,000 equity shares @ 10 each payable as follow :

On Application Rs. 4 per share

On Application Rs. 3 per share

and Balance on 2 calls

The issue was over subscribed by 50,000 shares. The directors decided upon making prorata allotment to 60,000 shares while remaining were returned.

The maximum amount that can be called up on the first call by the company is :

Solution

✅ Correct Option: 3

As per Table F of Companies Act 2013, no call shall exceed 25 percent of the nominal value of each share. Face value = Rs. 10, so maximum per call = 25 percent times 10 = Rs. 2.50.

More from this set:

Question 46

Total applications received are for :

Question 47

Amount to be returned to the applicants due to non-allotment of shares will be :

Question 48

The portion of capital which the company does not issue to the public is known as :

Question 50

The amount to be adjusted with the call of allotment will be :

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CUET Accountancy Past Year Questions (Topic-Wise)