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

  • question_answer
    Company offers 15,000 shares of Rs.10 each to the public. The amount is payable as follows;
    On Application Rs.3 per share
    On Allotment Rs.3 per share
    On 1st call Rs.2 per share
    On 2nd call Rs.2 per share
    Applications are received for 20,000 shares. The directors made the allotment as follows:
    No allotment to applicants for 3,000 shares
    Rest of the shares were allotted on pro-rata basis.
    Allotment money to be adjusted on application will be:

    A) 6,000

    B) 9,000

    C) 45,000

    D) 15,000

    Correct Answer: A

    Solution :

    6,000


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