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Neeraj Ltd. issued 10,000 shares of 10 each, at a premium of 10%. The shares were underwritten by Joseph and

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Neeraj Ltd. issued 10,000 shares of ₹10 each, at a premium of 10%. The shares were underwritten by Joseph and Jaleel to the extent of 5,000 shares and 3,000 shares respectively.

The total applications received by the company were 8,000; of which, the marked applications were: 

Joseph: 1,200 shares 

Jaleel: 300 shares 

You are required to determine the liability of the underwriters.

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Corporate Accounting

Corporate Accounting

ISBN: 9789353160739

1st Edition

Authors: Anita Raman, P. Radhika

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Question Details
Chapter # 2- UNDERWRITING OF SHARES AND DEBENTURES,,
Section: OTHER EXERCISES
Problem: 12
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Question Posted: August 31, 2023 04:48:01
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