12th Class
Accountancy
Accounting For Share Capital
Question Bank
MCQs - Accounting for Share Capital
question_answer
Rishi Ltd. decided to issue 75,000 equity shares of Rs.10 each at a premium of 20%. The whole amount was payable on application. Applications for 1,00,000 shares were received. Applications for 5,000 shares were rejected and shares were allotted to the remaining applicants on pro-rata basis. Amount refunded by the company will be: