PQR Ltd. issued 40,000 Equity shares of Rs. 10 each at par payable Rs. 3 on application, Rs. 4 on allotment and balance on first and final call. Applications were received for 1,10,000 shares. Applications for 20,000 shares were refused and allotment was made prorata to remaining applicants. Amount received on allotment is :

Question

Option 1: Rs. 1,00,000

Option 2: Nil

Option 3: Rs. 10,000

Option 4: Rs. 80,000

AfterBoards · Accepted Answer

The answer is 'Rs. 10,000'. View full solution:

List-I	List-II
(A) Calls in advance	(I) The maximum number of members is 200.
(B) Calls in arrears	(II) 12 %
(C) Private company	(III) 10 %
(D) Public company	(IV) No limit on the maximum number of members.

CUET Accountancy 2022 20 July Shift 1 PYQs

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