The directors of CAS Ltd. made the final call of Rs 30 per share on May...

 

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The directors of CAS Ltd. made the final call of Rs 30 per share on May 15 indicating the last date of payment of call money to be May 31. Mr. X, holding 10,000 shares paid the call money on July 15. If the company adopts Table A, the amount of interest on calls-in-arrear to be paid by Mr. X is A B C D Rs 1,250 Rs 1,875 Rs 1,500 Rs 2,250 The directors of CAS Ltd. made the final call of Rs 30 per share on May 15 indicating the last date of payment of call money to be May 31. Mr. X, holding 10,000 shares paid the call money on July 15. If the company adopts Table A, the amount of interest on calls-in-arrear to be paid by Mr. X is A B C D Rs 1,250 Rs 1,875 Rs 1,500 Rs 2,250

Answer rating: 100% (QA)

Correct option is B Interest on callsinarrears is the interest paid by the shareholde... View the full answer