Ambala Ltd. Was registered with an authorized capital of ₹2,00,000 in ₹10 per equity share, of these 6000 equity shares of ₹10 each issued as fully paid to the vendor for purchase of building, at a premium of ₹2 per share. 8000 equity shares were issued for subscription and during the first year ₹5 per equity share were called-up, payable ₹2 on application, ₹1 on allotment, Rs,1 on first call and ₹1 on final call. The amount received in respect of these shares was:
On 6000 Equity shares the full amount was received.
On 1250 shares ₹4 per Equity share,
On 500 shares ₹3 per Equity share,
On 250 shares ₹2 per Equity share
The company forfeited 750 equity shares on which less than ₹4 per share has been paid.
1. What is the price of the building purchased against issue of equity shares?
a. ₹72000
b. ₹60000
c. ₹75000
d. ₹66000
2. How many shares are not still issued by the company?
a. 6000
b. 5000
c. 7000
d. 10000
3. How many shareholders did not pay the first call and final call money only?
a. 750
b. 2000
c. 1250
d. 500
4. On forfeiture how much money is credited to share forfeiture account?
a. ₹2000
b. ₹250
c. ₹500
d. ₹750
