O Ltd, issued 10,000 equity shares of 10 each at a premium of 20%
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-rata. P, to whom 3,000
shares were allotted failed to pay the amount due on allotment. All his
shares were forfeited before 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 Transaction is ?
(a) 114000
(b) 132000
(c)120000
(d)100000
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Answer:
option c
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Answered by
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Answer:132000
Explanation:
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