12th Class
Accountancy
Accounting For Share Capital
Question Bank
MCQs - Accounting for Share Capital
question_answer
Rishi Limited invited applications for issuing 40,000 shares of Rs.10 each at par. The amount was payable as follows; On Application Rs.4 per share; On Allotment Rs.2 per share; On First and Final Call Rs.4 per share. Applications were received for 70,000 shares and Allotment was made on pro-rata basis and excess application money to be adjusted on allotment only. Allotment money to be adjusted on application will be: