please explain me the calls in advance part alone :)
Category Number of Shares Applied Number of Shares Allotted
I 2,20,000 1,50,000
II 5,50,000 3,50,000
Excess application money received with applications was adjusted towards sums due on allotment. Balance, if any was adjusted towards future calls. Govind, a shareholder belonging to category I, to whom 1,500 shares were allotted, paid his entire share money with allotment. Manohar belonging to category II, who had applied for 11,000 shares failed to pay 'Second & Final Call money'. Manohar's shares were forfeited after the final call. The forfeited shares were reissued at Rs. 10 per share as fully paid up.
Dear Student,
The details required to explain 'Calls in advance' part is incomplete. The information related to amounts called on each instalment (application, allotment, first call and second & final call) needs to be known.
Kindly post the complete question, so that we can guide you with the explanation.
The details required to explain 'Calls in advance' part is incomplete. The information related to amounts called on each instalment (application, allotment, first call and second & final call) needs to be known.
Kindly post the complete question, so that we can guide you with the explanation.