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R. K Ltd invited applications for …

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R. K Ltd invited applications for issuing 80000 equity shares of Rs 10 each at a premium of Rs 35 per share. The amount was payable as follows : On application - Rs 8 (including Rs 5 premium) per share, On Allotment - Rs 12 (including Rs 10 premium) per share, On first and final call - balance. Application for 75000 shares were received and allotment was made to all the applicants. Raging, a shareholder who was alloted 3000 shares failed to pay allotment money and his shares were immediately forfeited. Afterwards, the first and final call was made. Suhani, who held 3000 shares failed to pay final call. Her shares were also forfeited. All the forfeited shares were reissued for a sum of Rs 62000 as fully paid-up.

Posted by Muskan Ahuja 8 years, 2 months ago

CBSE > Class 12 > Accountancy

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CBSE > Class 12 > Accountancy

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CBSE > Class 12 > Accountancy

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CBSE > Class 12 > Accountancy

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