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  3. 12th Class
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  5. Accounting For Share Capital

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:

    A) 40,000

    B) 1,60,000

    C) 1,20,000

    D) 80,000

    Correct Answer: D

    Solution :

    80,000


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