D Ltd. issued 1,00,000 equity shares of Rs 10 each at a premium of Rs. 2...

  

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D Ltd. issued 1,00,000 equity shares of Rs 10 each at a premium of Rs. 2 per share. The amount payable was Rs. 2 on application, Rs. 5 on allotment (including premium) & rest on first & final call. Applications were received for 1,20,000 shares. Excess application money was refunded to applications. All monies due were received except the allotment and first & final call monies on 1,000 shares. These shares were forfeited and reissued at Rs 9 per share. Amount to be refunded on allotment for excess application will be A B C D Rs. 20,000 Rs. 40,000 Rs. 30,000 Rs. 50,000 D Ltd. issued 1,00,000 equity shares of Rs 10 each at a premium of Rs. 2 per share. The amount payable was Rs. 2 on application, Rs. 5 on allotment (including premium) & rest on first & final call. Applications were received for 1,20,000 shares. Excess application money was refunded to applications. All monies due were received except the allotment and first & final call monies on 1,000 shares. These shares were forfeited and reissued at Rs 9 per share. Amount to be refunded on allotment for excess application will be A B C D Rs. 20,000 Rs. 40,000 Rs. 30,000 Rs. 50,000

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The amount to be refund ed on allot ment for excess application will be Rs 40 000 Thi... View the full answer