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12th Class Accountancy Accounting For Share Capital Question Bank MCQs - Accounting for Share Capital

  • question_answer
    Vinod Ltd. had allotted 10,000 shares to the applicants of 13,000 shares on pro-rata basis. The amount payable on application was Rs.3 per share. Yash one shareholder who applied for 520 shares. How many shares were allotted to him and how much of his excess amount adjusted towards allotment?

    A) Allotted 400 Shares and adjusted on allotment Rs.400

    B) Allotted 360 Shares and adjusted on allotment Rs.400

    C) Allotted 400 Shares and adjusted on allotment Rs.1,200

    D) Allotted 400 Shares and adjusted on allotment Rs.360

    Correct Answer: D

    Solution :

    Allotted 400 Shares and adjusted on allotment Rs.360


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