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. How much amount shall be debited to bank account if only 11,955 shareholders paid the the money due on first call ?

None of the above

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Rs 240000

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Rs 239100

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Rs 293100

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Solution

The correct option is C
Rs 239100

Amount receieved = 11,955 X 20 = Rs 2,39,100.

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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. How much amount shall be debited to bank account if only 11,955 shareholders paid the the money due on first call ?

The correct option is C Rs 239100 Amount receieved = 11,955 X 20 = Rs 2,39,100.

The correct option is C
Rs 239100

Amount receieved = 11,955 X 20 = Rs 2,39,100.