A. Rs. 75 per share
B. Rs. 60 per share
C. Rs. 100 per share
D. None of the above
Answer: Option A
This Question Belongs to Commerce >> Accounting
Accounting provides information on
A. Cost and income for managers
B. Company's tax liability for a particular year
C. Financial conditions of an institutions
D. All of the above
The long term assets that have no physical existence but are rights that have value is known as
A. Current assets
B. Fixed assets
C. Intangible assets
D. Investments
The assets that can be converted into cash within a short period (i.e. 1 year or less) are known as
A. Current assets
B. Fixed assets
C. Intangible assets
D. Investments
Patents, Copyrights and Trademarks are
A. Current assets
B. Fixed assets
C. Intangible assets
D. Investments
In accounting, the Share Capital Account is credited with the amount called-up, not the amount actually received.
Given:
Face value = Rs. 100
Called-up amount = Rs. 75
Received amount = Rs. 60
👉 Even though only Rs. 60 is received, the company has called Rs. 75, so shareholders are liable for that full amount.
Therefore:
Share Capital Account = credited with Rs. 75 per share
The unpaid Rs. 15 (75 − 60) is shown as Calls in Arrears
Final Answer: Rs. 75 per share