On 1 st May, 2023, Z Ltd. makes an issue of 10,000 equity shares of ₹ 10 each payable as ₹ 2 on application, ₹ 3 on allotment with premium and ₹ 6 on first and final call after three months from allotment. One shareholde
CS Executive · Corporate and Management Accounting · PYQS · December 2023
On 1 st May, 2023, Z Ltd. makes an issue of 10,000 equity shares of ₹ 10 each payable as ₹ 2 on application, ₹ 3 on allotment with premium and ₹ 6 on first and final call after three months from allotment. One shareholder who was allotted with 200 shares paid first and final call with allotment money. If the directors have decided to allow interest on calls in advance as Table F, then the interest payable is:
Answer & Explanation:
Correct Answer: Option (D)
Official answer key: (D).
Topics: Corporate Accounting
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