Question : Ratan India Ltd.’ is registered with an authorized capital of Rs. 20,00,000 divided
into 2,00,000 equity shares of Rs.10 each. The company issued 50,000 equity shares at a premium of Rs.5 per share. Rs.2 per share were payable with the application, Rs.8 per share including premium on the allotment and the balance amount on the first and final call. The issue was fully subscribed and all the amount due was received except the first and final call money on 500 shares allotted to Balla.

Subscribed and fully paid-up capital is

Option 1: Rs 5,00,000

Option 2: Rs 4,95,000

Option 3: Rs 4,85,000

Option 4: None of the above

Team Careers360 5th Jan, 2024