CA Inter P1 · Chapter 9 · Question 2 of 10
Case: Ashwin Motors Ltd has issued 5,00,000 equity shares of ₹10 each, fully called up. Calls of ₹3 per share are unpaid on 10,000 shares. The paid-up equity share capital to be shown in the notes on Share Capital as per Schedule III is:
Test yourself: pick an answer
Reveal answer & explanation
Correct answer: D) ₹49,70,000
Explanation
Subscribed capital = 5,00,000 x 10 = 50,00,000. Calls in arrears = 10,000 x 3 = 30,000, which Schedule III requires to be deducted to arrive at paid-up capital (subscribed but not fully paid). Paid-up = ₹49,70,000. Calls in arrears are not shown as an asset.
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