Practicing Success
A company with registered capital ₹50,00,000 (1,00,000 Equity Shares of ₹50 each) was incorporated. The company issued 60,000 equity shares at a premium of ₹5 per share payable as ₹20 on application, ₹25 (including premium) on allotment, and balance as First and Final Call. Subscription for shares was for 1,10,000 shares and allotment was made as follows: |
₹5000 ₹5500 ₹6000 ₹6500 |
₹5000 |
Allotted share to Sohan= 30000/60000 X 1000= 500 shares. |