{"id":43624,"date":"2024-04-15T21:32:06","date_gmt":"2024-04-15T21:32:06","guid":{"rendered":"https:\/\/exam.pscnotes.com\/mcq\/?p=43624"},"modified":"2024-04-15T21:32:06","modified_gmt":"2024-04-15T21:32:06","slug":"gopal-held-100-shares-of-rs-10-each-of-a-company-on-which-he-had-paid-rs-3-on-the-application-and-rs-2-on-the-allotment-but-could-not-pay-rs-2-on-the-first-call-the-directors-forfeited-the-above","status":"publish","type":"post","link":"https:\/\/exam.pscnotes.com\/mcq\/gopal-held-100-shares-of-rs-10-each-of-a-company-on-which-he-had-paid-rs-3-on-the-application-and-rs-2-on-the-allotment-but-could-not-pay-rs-2-on-the-first-call-the-directors-forfeited-the-above\/","title":{"rendered":"Gopal held 100 shares of Rs. 10 each of a company on which he had paid Rs. 3 on the application and Rs. 2 on the allotment but could not pay Rs. 2 on the first call. The directors forfeited the above share. The share capital will be debited by"},"content":{"rendered":"<p>[amp_mcq option1=&#8221;Rs. 1,000&#8243; option2=&#8221;Rs. 700&#8243; option3=&#8221;Rs. 500&#8243; option4=&#8221;Rs. 800&#8243; correct=&#8221;option3&#8243;]<!--more--><\/p>\n<p>The correct answer is: C. Rs. 500<\/p>\n<p>Explanation:<\/p>\n<p>Gopal held 100 shares of Rs. 10 each of a company on which he had paid Rs. 3 on the application and Rs. 2 on the allotment but could not pay Rs. 2 on the first call. The directors forfeited the above share.<\/p>\n<p>The share capital will be debited by the amount already paid by Gopal, i.e., Rs. (3 + 2) = Rs. 5 per share. Since Gopal held 100 shares, the share capital will be debited by Rs. 500.<\/p>\n<p>Option A is incorrect because it is the total value of the shares. Option B is incorrect because it is the amount Gopal would have paid if he had paid the first call. Option D is incorrect because it is the total value of the shares minus the amount Gopal had already paid.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>[amp_mcq option1=&#8221;Rs. 1,000&#8243; option2=&#8221;Rs. 700&#8243; option3=&#8221;Rs. 500&#8243; option4=&#8221;Rs. 800&#8243; correct=&#8221;option3&#8243;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[85],"tags":[],"class_list":["post-43624","post","type-post","status-publish","format-standard","hentry","category-accounting","no-featured-image-padding"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v22.2 (Yoast SEO v23.3) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Gopal held 100 shares of Rs. 10 each of a company on which he had paid Rs. 3 on the application and Rs. 2 on the allotment but could not pay Rs. 2 on the first call. The directors forfeited the above share. The share capital will be debited by<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/exam.pscnotes.com\/mcq\/gopal-held-100-shares-of-rs-10-each-of-a-company-on-which-he-had-paid-rs-3-on-the-application-and-rs-2-on-the-allotment-but-could-not-pay-rs-2-on-the-first-call-the-directors-forfeited-the-above\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Gopal held 100 shares of Rs. 10 each of a company on which he had paid Rs. 3 on the application and Rs. 2 on the allotment but could not pay Rs. 2 on the first call. The directors forfeited the above share. The share capital will be debited by\" \/>\n<meta property=\"og:description\" content=\"[amp_mcq option1=&#8221;Rs. 1,000&#8243; option2=&#8221;Rs. 700&#8243; option3=&#8221;Rs. 500&#8243; option4=&#8221;Rs. 800&#8243; correct=&#8221;option3&#8243;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/exam.pscnotes.com\/mcq\/gopal-held-100-shares-of-rs-10-each-of-a-company-on-which-he-had-paid-rs-3-on-the-application-and-rs-2-on-the-allotment-but-could-not-pay-rs-2-on-the-first-call-the-directors-forfeited-the-above\/\" \/>\n<meta property=\"og:site_name\" content=\"MCQ and Quiz for Exams\" \/>\n<meta property=\"article:published_time\" content=\"2024-04-15T21:32:06+00:00\" \/>\n<meta name=\"author\" content=\"rawan239\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"rawan239\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Gopal held 100 shares of Rs. 10 each of a company on which he had paid Rs. 3 on the application and Rs. 2 on the allotment but could not pay Rs. 2 on the first call. The directors forfeited the above share. The share capital will be debited by","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/exam.pscnotes.com\/mcq\/gopal-held-100-shares-of-rs-10-each-of-a-company-on-which-he-had-paid-rs-3-on-the-application-and-rs-2-on-the-allotment-but-could-not-pay-rs-2-on-the-first-call-the-directors-forfeited-the-above\/","og_locale":"en_US","og_type":"article","og_title":"Gopal held 100 shares of Rs. 10 each of a company on which he had paid Rs. 3 on the application and Rs. 2 on the allotment but could not pay Rs. 2 on the first call. The directors forfeited the above share. The share capital will be debited by","og_description":"[amp_mcq option1=&#8221;Rs. 1,000&#8243; option2=&#8221;Rs. 700&#8243; option3=&#8221;Rs. 500&#8243; option4=&#8221;Rs. 800&#8243; correct=&#8221;option3&#8243;]","og_url":"https:\/\/exam.pscnotes.com\/mcq\/gopal-held-100-shares-of-rs-10-each-of-a-company-on-which-he-had-paid-rs-3-on-the-application-and-rs-2-on-the-allotment-but-could-not-pay-rs-2-on-the-first-call-the-directors-forfeited-the-above\/","og_site_name":"MCQ and Quiz for Exams","article_published_time":"2024-04-15T21:32:06+00:00","author":"rawan239","twitter_card":"summary_large_image","twitter_misc":{"Written by":"rawan239","Est. reading time":"1 minute"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/exam.pscnotes.com\/mcq\/gopal-held-100-shares-of-rs-10-each-of-a-company-on-which-he-had-paid-rs-3-on-the-application-and-rs-2-on-the-allotment-but-could-not-pay-rs-2-on-the-first-call-the-directors-forfeited-the-above\/","url":"https:\/\/exam.pscnotes.com\/mcq\/gopal-held-100-shares-of-rs-10-each-of-a-company-on-which-he-had-paid-rs-3-on-the-application-and-rs-2-on-the-allotment-but-could-not-pay-rs-2-on-the-first-call-the-directors-forfeited-the-above\/","name":"Gopal held 100 shares of Rs. 10 each of a company on which he had paid Rs. 3 on the application and Rs. 2 on the allotment but could not pay Rs. 2 on the first call. 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