12th Class
Accountancy
Accounting For Share Capital
Question Bank
MCQs - Accounting for Share Capital
question_answer
Rishi Limited invited applications for issuing 30,000 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 and first & final call. Amount refunded to the applicant will be :