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Question

Mona Earth Mover Limited decided to issue 12,000 shares of Rs.100 each payable at Rs.30 on application, Rs.40 on allotment, Rs.20 on first call and balance on second and final call. Applications were received for 13,000 shares. How much amount shall be entered in share application account?


A

Rs. 3,90,000

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B

Rs. 1,30,000

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C

Rs. 5,20,000

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D

None of these

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Solution

The correct option is A

Rs. 3,90,000


Amount of application money = 13,000 X Rs 30 = Rs. 3,90,000


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