Question

X Ltd. offered 1,00,000 Equity Shares of 10 each, of these 99,500 shares were subscribed. The amount was payable as 5 on application, 3 on allotment and balance on first call. Kishan holding 3,000 shares and Geeta holding 2,000 shares have defaulted on first call, what is the amount of money received on first call? (A) 1,89,000 (B) 2,83,500

(C) 1,90,000

(D) 1,99,000

Answer 1

Answer:

Amount received on first call = 99,500 x 2 = 1,99,000