Question

12. A Mining Company Ltd, invited applications for 50,000 equity shares of 100 each at premium 10 per share. The amount was payable as follows: On application 20 On allotment 760 (including premium] On first and final call 30 All the shares were subscribed and money duly received with the exception of the first and final call on 5,000 shares and the Directors forfeited these shares and re-issued as fully paid at 70 per share. ​

Answer 1

Mulund.

3) Payee - Mrs. Sheela Ghalkar, Mangal Yog. CIDCO, Aurangabad.

4) Amount - Rs. 17,575/-.

5) Period – 60 days.

forfeited these shares and re-issued as fully paid at 70 per share

Answer 2

Explanation:

as given in the above photo.

by: Darshan Bapna