Question

solutions om ltd.issued 10000 equity shares rs 10 each at a primium of rs 2 per share, payable at rs 5 on application, rs 5 on allotment (including primium) and balance in first and final call. mukesh who had 1000 shares could not pay first and final call and his shares were forfeited.out of these 600 shares were re- issued to madan @ rs 11 per shares fulky paid up.​

Answer 1

Answer:

A Ltd. issued 10,000 equity shares of Rs.10 each at a premium of 20% payable Rs.4 on, application (including premium), Rs.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. G, to whom 4,000 shares were allotted, forfeited shares were reissued at par. Assuming that no other bank transactions took place, the bank balance of the company after effecting the above transactions will be Rs 1,36,000