A company issues 20,000 equity shares of ₹10 each at a premium of ₹2 per share. Total amount received on application if full amount called on application will be: MCQ with Answer and Explanation
A company issues 20,000 equity shares of ₹10 each at a premium of ₹2 per share. Total amount received on application if full amount called on application will be:
A. ₹2,20,000
B. ₹2,40,000
C. ₹1,60,000
D. ₹2,00,000
Answer: Option B
Solution (By JKSSB Mock Tests)
Issue price per share = ₹10 + ₹2 = ₹12. If whole amount called on application, total = 20,000 × 12 = ₹2,40,000.
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