12th Class
Accountancy
Accounting For Share Capital
Question Bank
MCQs - Accounting for Share Capital
question_answer
Nanak Ltd. invited application for 50,000 equity shares of Rs.10 each at a premium of 60%. Whole amount was payable on application. The issue was over-subscribed by 2.5 times of the issue. 25,000 applications were rejected and money was refunded with a letter of regret. Total amount refunded by the company _____