36 :- Usha Ltd. was formed with a capital of Rs 10,00,000 dividend into shares of Rs 100 each. It offered 90% shares to public for subscription. The amount per share was payable as 40% on application, 20% on allotment and the balance on first and final call. The applicants paid Rs 3,60,000 on application and Rs 1,69,000 on allotment. The call has not yet been made. Calculate:
(a) Authorised Capital, (b) Issued Capital, (c) Subscribed Capital, (d) Called-up Capital, (e) Paid-up Capital and (f) Calls-in-Arrears
Solution :-
(a) Authorised Capital = Rs 10,00,000 (10,000 shares @ Rs 100 each)
(b) Issued Capital = 90% of 10,00,000
= Rs 9,00,000
(c) Subscribed Capital = Rs 9,00,000
(d) Called-up Capital = 9,000 shares @ Rs 60 per share
= Rs 5,40,000
(e) Paid up Capital = Rs 3,60,000 + 1,69,000
= Rs 5,29,000
(f) Calls-in-Arrears = Amount on Allotment (900 x 20) = 1,80,000
= Amount Received on Allotment = (1,69,000) = Rs 11,000