Question

The directors of Bhagat and Company Ltd. issued 50,000 equity shares of 10 each at 12 per share, payable as 5 on application including the premium, 74 on allotment and the balance on final call. Applications were received for 70,000 shares out of which applications for 8,000 shares were rejected and their money was refunded. Money overpaid on application was applied towards sums due on allotment. All the money were duly received except from one shareholder holding 500 shares who failed to pay the final call money. What is the amount received on application of shares? (A) 33,50,000 (B) 32,80,000 (C) 1,50,000 (D) 360,000​

Answer 1

Answer:

v

Explanation:

Answer 2

Answer:

3,50,000

Explanation:

70,000 × ₹ 5 = ₹ 3,50,000