Question

Illustration 3
K.K.R Ltd., issued 1,20,000 Preference shares of Rs.10 each. The whole issue
was underwritten by Malan for maximum Commission Permitted by law.
Applications for 1,00,000 shares were received in all. Determine the net liability of
Malan and Commission payable to him.
Madras, B.Com (AF) Nov 20091​

Answer 1

Answer:

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