Read the hypothetical text and answer the following questions .
Dinakar Ltd was incorporated on 1st April 2015 with an authorised capital of ₹ 50,00,00,000 divided into equity shares of ₹ 100 each. The company was in need of large funds to invest in Plant & Machinery, it invited applications for 4,00,000 shares, applications for 3,80,000 shares were received. All calls were made and duly received except for 5000 shares on which the final call of ₹ 20 was not received. The company forfeited 200 shares on which final call was not received.
1. The minimum subscription on this issue of shares is
a) 3,60,000 shares
b) ₹3,60,000
c) 4,00,000 shares
d) ₹4,00,000
2. The shareholders’ funds to be shown in the face of Balance sheet will be
a) ₹3,80,00,000
b) ₹3,79,00,000
c) ₹50,00,00,000
d) ₹4,00,00,000
3. The authorized capital of Dinkar Ltd will be shown in------------
a) Articles of Association
b) Prospectus
c) Memorandum of Association
d) Table F of Companies Act 2013.
4. How will you show the Calls in arrears in the Balance sheet of a company?
a) As a deduction from Called up capital in the Notes to Accounts to Share capital
b) As a deduction from Shareholders’ funds in the Balance sheet
c) As a deduction from the Reserves & Surplus
d) As a deduction from the Sundry creditor
