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Standard XII

Mathematics

Sum of n Terms

A Private Com...

Question

A Private Company must be registered with a minimum share capital of ___________.

R s . 5 l a k h s

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R s . 1 l a k h s

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R s . 10 l a k h s

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R s . 50, 000

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Solution

The correct option is C $R s . 1 l a k h s$
As per section 2(68) of companies act, 2013 "private company" means a company having a minimum paid-up share capital of one lakh rupees or such higher paid-up share capital as may be prescribed and restrict any invitation to the public to subscribe for any securities of the company.

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Similar questions

Q. A Private Limited Company having paid up share capital of Rs _______ or more must appoint a whole time company secretary.

Q. A Public Company must be registered with a minimum share capital of _________.

Q. A private company is one which has a minimum paid up share capital of

R s . 1, 00, 000

or such higher paid up share capital as may be prescribed by its Article of Association and which __________.

A limited Company was registered with an authorised capital of Rs 2,00,000 in Rs 10 shares, of these 6,000 shares were issued as fully paid to the vendors for the purchase of buildings. Pass the necessary journal entries.

Q. Satrun Ltd. was registered with an authorized capital of

R s . 12, 00, 000

, divided into

1, 20, 000

equity shares of

R s .10

each. It issued

40, 000

equity shares to the public at premium of

R s .5

per share, payable as follows:
On application

R s . 6

On allotment

R s . 9

(including premium of

R s . 5

)
All the shares were applied for and allotted. One shareholder holding

500

shared did not pay the allotment money and his shares were forfeited. Out of the forfeited shares, the company reissued

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shares at

R s .7

per share fully called up.
You are required to :
(a) Pass journal entries on the book of the company.
(b) Prepare
(i) Securities Premium Reserve Account.
(ii) Share Capital Account

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