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Jain Limited invited applications for issuing …

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Jain Limited invited applications for issuing 112000 equity shares of rupees 10 each at par. the amount Per share was payable as follows ,on application rupees one ,on allotment rupees two, on first call rupees 3 ,on second and final call rupees 4. application for 1 lakh shares were received .shares were fully allotted to all the applicant .Ramesh fail to pay his allotment money which was rupees 2000. his shares were forfetied immediately Suresh did not pay the first call on 500 share applied by him .his share forfeited after the first call the. forfieted shares of Ramesh and Suresh were reissued at rupees 9 Per share fully paid up .afterwards the second and final call was made and was duly recieved

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CBSE > Class 12 > Accountancy

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