B Ltd. issued 1,00,000 equity shares of Rs. 10 each to the public at par. The details of the amount payable are as follows:
Application Rs. 2.00
Allotment Rs. 3.00
First & final call Rs. 5.00
Applications were received for 1,20,000 shares. Excess application monies were refunded. All other amount was received except final call on 1,000 shares. These shares were forfeited and reissued at Rs. 8 per share.
Amount due on first & final call will be ______.

Rs. 2,00,000

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Rs. 2,40,000

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Rs. 3,00,000

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Rs. 5,00,000

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Solution

The correct option is D Rs. 5,00,000
Total number of shares issued by B ltd. is 1,00,000.
First and final call per share is Rs 5.
Hence, amount due on first and final call will Rs. 5,00,000 (1,00,000 X 5)

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The correct option is D Rs. 5,00,000Total number of shares issued by B ltd. is 1,00,000. First and final call per share is Rs 5. Hence, amount due on first and final call will Rs. 5,00,000 (1,00,000 X 5)

The correct option is D Rs. 5,00,000
Total number of shares issued by B ltd. is 1,00,000.
First and final call per share is Rs 5.
Hence, amount due on first and final call will Rs. 5,00,000 (1,00,000 X 5)