Question

CULATION OF INTEREST ON CALLS IN ARREARS & CALLS IN ADVANCE
A Ltd. issued 5,00,000 shares of 10 each payable as follows:
On Application 2 (Ist March, 2015)
On Allotment 3 (Ist May, 2015)
On First Call * 2 (Ist August, 2015)
On Final Call * 3 (Ist December, 2015)
All these shares were subscribed for and amount duly received. X who had 8,000 shares paid both
the calls along with allotment. Y holding 4,000 shares paid final call along with the first call.
Calculate the amount of interest on calls in advance payable by X & Y assuming company has
adopted Table F.
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Answer 1

Answer:

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