Question

The subscribed capital of a company was ₹40,00,000, and the nominal value of each share was ₹50. There were no calls-in-arrears till the final call was made, and the final call made was paid on 77,500 shares only. The balance in the calls-in-arrears amounted to ₹31,250. Calculate the final call on share.

[0.88 marks]

• A. ₹12.5
• B. ₹25
• C. ₹50
• D. ₹10

Answer 1

The correct option is A ₹12.5

Final call on shares:

Total Shares = $\frac{₹40,00,000}{₹50}$ = 80,000

Share for calls-in-arrears
= 80,000 – 77,500
= 2,500

Calls-in-arrears for final call per share
= $\frac{₹31,250}{2,500}$

= ₹12.5