Rishi Limited invited applications for issuing 40,000 shares of Rs.10 each at par. The amount was payable as follows: |
On Application Rs.2 per share; |
On Allotment Rs.3 per share |
On First and Final Call Rs.5 per share |
Applications were received for 70,000 shares. Allotment was made on the following basis: |
To applicants for 20,000 shares - Full |
To applicants for 40,000 shares - 50% |
To applicants for 10,000 shares - Nil |
Allotment money to be adjusted on application will be: |
A) 40,000
B) 80,000
C) 20,000
D) 60,000
Correct Answer: A
Solution :
40,000You need to login to perform this action.
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