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MCQ

Question

E Ltd. had allotted 10,000 shares to the application of 14,000 shares on a pro-rata basis. The amount payable on the application is Rs. 2. F applied for 420 shares. The number of shares allotted and the amount carried forward for adjustment against allotment money due from F is?

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60 shares; Rs. 120 340 shares; Rs. 160 300 shares; Rs. 240 Correct 588 shares; Rs. 336

300 shares; Rs. 240 company accounts correct; share issue forfeiture pro-rata per Companies Act.

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