Question

The following information pertains to X Ltd.
Called-up-share capital= Rs. 5,00,000
Calls-in-arrears=Rs. 40,000
calls-in-advance=Rs. 25,000
Proposed dividend=15%
The amount of payable is ____________.

• A. Rs. 75,000
• B. Rs. 72,750
• C. Rs. 71,250
• D. Rs. 69,000

Answer 1

The correct option is D Rs. 69,000

Called-up-share capital= Rs. 5,00,000,

Calls-in-arrears=Rs. 40,000
calls-in-advance=Rs. 25,000
Proposed dividend=15%

The amount payable ( 5,00,000 - 40,000) x 15% = Rs. 69,000.
Dividend is not paid on Calls in advance.