A company issued 4,000 equity shares of Rs. 10 each at par payable as under:

On application Rs. 3; on allotment Rs. 2; on first call Rs. 4 on final call Rs. 1 per share.

Applications were received for 13,000 shares. Applications for 3,000 shares were rejected and pro-rata allotment was made to the applicants for 10,000 shares. How much amount will be received in cash on the first call? Excess application money is adjusted towards the amount due on allotment and calls.

1
Rs. 6,000
2
Nil
3
Rs. 16,000
4
Rs. 10,000

Sponsored

hivanix.in

Visit

This quiz is brought to you by hivanix.in

🌐 Web App Development

Quick Navigation