Calculate The Amount of Second & Final Call When Abhijit Ltd, Issues Equity Shares Of ₹10 Each At a Premium of 40% Payable On Application ₹3, On Allotment ₹5, - Bzziii.com

Calculate the amount of second & final call when Abhijit Ltd, issues Equity shares of ₹10 each at a premium of 40% payable on Application ₹3, On Allotment ₹5, On First Call ₹2.

(A) Second & final call ₹3. 
(B) Second & final call ₹4.
(C) Second & final call ₹1.
(D) Second & final call ₹14. 

(B) Second & final call ₹4. 

Explanation:

In this above question we need to find out the value of Premium, which amount is payable on Second & final call.

Equity Shares Price = Rs. 10 + (40% of Rs. 10)

= 40% of Rs. 10

= 10 `\times` `40/100`

=Rs. 4.

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CBSE Class 12 Accountancy Sample Paper-2022