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Sargam ltd. Invited applications for issuing …

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Sargam ltd. Invited applications for issuing 80000equity shares of rs 100each at A premium .the amount was payable as :on application rs 20per share, on allotment rs 60(inculding premium) per share, on first and final call rs 40 Applications for 1,20,000shares were received. Allotment was made on pro rata basis to all the applicants. Excess money received on application was adjusted on sums due on allotment. Sitaram,who had applied for 6000shares failed to pay the allotment money and Harman did not pay first and final call on 800shares alloted to him. The shares of Sitaram and Harman were forfeited.4,200of these shares were reissued for rs 100per share as fully paid up. The reissued shares includes all the shares of Harman.

Posted by Sakshi Doda 5 years, 10 months ago

CBSE > Class 12 > Accountancy

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Raj Kumar 5 years, 9 months ago

6% of interest on capital

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