Practice Test

On 01.01.2009, X ltd. marks an issue of 100000 equity shares of Rs.100 each payable as follows : Application - Rs.20, Allotment - Rs.30, Final call - Rs.50 (3 months after allotment) Applications were received for 120000 shares and the directors refunded the excess application money. One shareholder, who was allotted 2000 shares paid first and final call with allotment money and another shareholder did not pay allotment money on his 3000 shares but which he paid with first and final call. Directors have decided to charge and allows interest, according to the provisions of Table-F. The amount of interest on calls-in-arrears = ?

Preference shares are those which carry the preferntial rights as to _____________

The subscribed share capital of S ltd. is Rs.8000000 of Rs.100 each. There were no calls in arrears till the final call was made. The final call made was paid on 77500 shares. The calls in arrears amounted to Rs.62500 The final call per share =?