Joy Ltd issued 100000 equity shares of Rs.10 each. The amount was payable as follows: On application - Rs.3/share, On allotment – Rs.4, On first call the balance. Application for 95000 shares were received and shares were allotted to all the applicants. Soni to whom 500 shares were allotted failed to pay allotment money and Christo paid his entire amount due including the amount die on first and final call on the 750 shares allotted to him along with the allotment. The amount received on allotment was: 380000 378000 380250 O 378250

Joy Ltd issued 100000 equity shares of Rs.10 each. The amount was payable as follows: On application - Rs.3/share, On allotment – Rs.4, On first call the balance. Application for 95000 shares were received and shares were allotted to all the applicants. Soni to whom 500 shares were allotted failed to pay allotment money and Christo paid his entire amount due including the amount die on first and final call on the 750 shares allotted to him along with the allotment. The amount received on allotment was: 380000 378000 380250 O 378250

SWFT Comprehensive Vol 2020

43rd Edition

ISBN:9780357391723

Author:Maloney

Publisher:Maloney

Chapter22: S Corporations

Section: Chapter Questions

Problem 3BCRQ

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