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Forfeiture of Shares-Issued at Par

In case of no...

Question

In case of non-payment of call money by a shareholder, we debit calls in arrear account with the amount from the defaulter.

A

received

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B

not received

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C

not called up

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Solution

The correct option is B not received
In case of non-payment of call money by a shareholder, we debit calls in arrear account with the amount not received from the defaulter.

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Q. If authorized by the____________ a company may received from a shareholder the amount remaining unpaid on shares, even though the amount has not been called up which is known as calls-in-advance.

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Q. Zoya Ltd. issued 10,000 shares of ₹10 each payable as ₹3 on application, ₹2 on allotment, ₹3 on first call, and ₹2 on the second and final call. K, a shareholder of 100 shares paid only application and allotment money. Y, a shareholder of 250 shares did not pay second and final call money. Calculate the total amount of calls-in-arrear:

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