LMN Ltd. allotted 20,000 shares to the applicants of 28,000 shares on pro-rata basis. The amount payable on application is ₹25 per share. Kanika applied for 700 shares, the number of shares allotted to Kanika will be :
CS Executive · Corporate and Management Accounting · PYQS · December 2021
LMN Ltd. allotted 20,000 shares to the applicants of 28,000 shares on pro-rata basis. The amount payable on application is ₹25 per share. Kanika applied for 700 shares, the number of shares allotted to Kanika will be :
Answer & Explanation:
Correct Answer: Option (A)
Official answer key: (A).
Topics: Company Accounts
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