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Surya Ltd. issued 50,000… (Class 12 Accountancy 2026, Q13)

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AccountancyCBSE Class 12 · Board exam 2026, set 67/1/1 · 1 mark · MCQ

CBSE Class 12 Accountancy 2026: question 13

Set in the CBSE Class 12 board exam of 2026, paper 67/1/1, section A, question 13, for 1 mark. Try it first; the hints and our step-by-step solution are below.

Q13 · 1 mark · MCQAccounting for Share Capital

Surya Ltd. issued 50,000 equity shares of ₹ 10 each. The amount was payable as follows :

on Application – ₹ 3 per share

on Allotment – ₹ 2 per share

on First and Final Call – the balance

Usha, to whom 700 shares were allotted, paid her entire share money on allotment. Raj, to whom 300 shares were allotted did not pay the first and final call. The amount to be debited to Bank Account for first and final call after it becomes due will be :

  1. (A)₹ 2,50,000
  2. (B)₹ 2,48,500
  3. (C)₹ 2,45,000
  4. (D)₹ 2,52,000

Source: official question paper from cbse.gov.in (PDF). See it in the full 2026 board paper, set 67/1/1.

Hints

Open one hint at a time and try again before the next.

Hint 1

Some call money came in early.

Hint 2

Some was never paid.

Step-by-step solution

Each step shows the marks it earns, as an examiner would award them. Checked by an independent re-solve from the question paper.

  1. Final call = 10 − 3 − 2 = ₹ 5 per share; total due = 50,000 × 5 = ₹ 2,50,000. Usha paid her 700 × 5 = ₹ 3,500 in advance with allotment; Raj owes 300 × 5 = ₹ 1,500.

  2. Cash received on the call = 2,50,000 − 3,500 − 1,500 = ₹ 2,45,000. Option (C).

    1 mark

Answer: (C) ₹ 2,45,000

Where the marks are

  • Deducts calls in advance and arrears (1 mark)

Revise the chapter

Practise this chapterBoard-style questions from Accounting for Share Capital, one at a time, marked against the answer key and marking points.Back to the full paper2026 board paper, set 67/1/1: every question, by section.

The question is transcribed from the official paper; figures are described in words. The solution, hints and chapter tag are ours. Spotted an error? Write tosupport@questionbuddy.in.