When the company received the call money from shareholder which is not yet called. This is known as ?

Under subscription of shares

No worries! We‘ve got your back. Try BYJU‘S free classes today!

Calls in Arrear

No worries! We‘ve got your back. Try BYJU‘S free classes today!

Default by share holder

No worries! We‘ve got your back. Try BYJU‘S free classes today!

Calls in Advance

Right on! Give the BNAT exam to get a 100% scholarship for BYJUS courses

Open in App

Solution

The correct option is D
Calls in Advance

When the company received the call money from shareholder which is not yet called. This is known as calls in advance.

Suggest Corrections

Similar questions

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.

A Company issued 50,000 equity shares of Rs 10 each at par payable as under:

On Application Rs 2; on allotment Rs 1; on first call Rs 3 and on final call Rs 4 per share (four months after first call).

Amount due on application and allotment was duly received. One shareholder holding 1,000 shares could not pay the first call money in time. Another shareholder holding 2,000 shares paid the final call money along with the first call money.

Final call was made. All the shareholders paid in full. First call arrear on 1,000 shares were also received at the time of final call.

(a) Make entries in the Company's journal for transactions relating to first call and final call.

(b) Company also decided to provide free transportation facility to its employees. Identify the value involved in this decision.

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

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:

Q. Priya Ltd. issued 20,000 shares of ₹10 each payable as ₹3 on application, ₹2 on allotment, ₹3 on first call, and ₹2 on the second and final call. L, a shareholder of 300 shares paid only application and allotment money. M, a shareholder of 550 shares did not pay second and final call money. Calculate the total amount of calls-in-arrear.

[0.88 marks]

Join BYJU'S Learning Program

When the company received the call money from shareholder which is not yet called. This is known as ?

The correct option is D Calls in Advance When the company received the call money from shareholder which is not yet called. This is known as calls in advance.

The correct option is D
Calls in Advance

When the company received the call money from shareholder which is not yet called. This is known as calls in advance.