Question

29. O Ltd. issued 10,000 equity shares of 10 each at a premium of 20% payable 4 on application
(including premium), 5 on allotment and the balance on first and final call. The company
received applications for 15,000 shares and allotment was made pro-raia. P, to whom 3,000
shares were allotted failed to pay the amount due on allotment. All his shares were forfeited
after the call was made. The forfeited shares were reissued to Q at par. Assuming that no other
bank transactions took place, the bank balance of the company after effecting the above
transactions is
(a) 1,14,000
(b) 1,32,000
(C) 1,20,000
(d) 1,00,000​

Answer 1

Answer:

maybe 1,20,000

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