Multiple choice

Srei Ltd. issued Rs.1,25,000 equity shares of Rs. 10 each. The amount payable on these shares is as follows:

– 2 on appIication – 3 on allotment – 2 onfirstcalI – Balance in final call

Suman, who has Rs. 5,000 shares, paid full value of shares with the allotment money. The amount to be debited to the bank account at the time of receipt of first call money will be

  1. Rs. 2,50,000

  2. Rs. 2,35,000

  3. Rs. 2,45,000

  4. Rs. 2,40,000
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

The first call will be received for 1,20,000 shares @ Rs. 2, i.e. Rs. 2,40,000.

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