Question

Indian oil company issued 20,000 shares of ₹ 10 each payable

Answer 1

Answer:

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Answer 2

Answer:

Indian oil company issued 20000 shares of RS.10 each payable rs. 2 on application rs. 4 on allotment and blanace in to equal calls. It received application for 24000 share. The pro-rata allotment was made on applied share. Excess application money was retained. Kuljeet Who was allotted 500 shares a did not pay allotment money and Two subsequent calls. His share were forfeited and reissued at rs.8 per share fully paid up.