Bengal Ltd. issued 10000 share of rs 10 each At a premium of rs rs 2.per share payable as follow : rs 2on application, rs 5 on allotment (including premium of rs2), rs 3 on ist call and final call. application were received for 12000 share. application for 2000 ahare were refunded. a share holder, 500 share did not pay final money. his share were forfieted. out of these 300 share were re_issued to Mr. Roy at rs 9 per share.
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Explanation:
as the total share is of 10 but adding the application, allotment and last call it's only 8 so I have adjusted the last call and made it 5
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