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.
Answers & Comments
Answer:
14 rupee is correct answer jii
Verified answer
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To calculate the amount of the second and final call, you need to consider the premium amount along with the face value of the shares.
Here's how you can calculate it:
1. Face Value of each share = ₹10
2. Premium on each share = 40% of ₹10 = ₹4
3. Total cost per share (including premium) = ₹10 + ₹4 = ₹14
Now, let's see how the payments are distributed:
- On Application: ₹3
- On Allotment: ₹5
So far, the total paid per share is ₹3 (on application) + ₹5 (on allotment) = ₹8.
To find the second and final call amount, you need to reach the total cost per share, which is ₹14.
So, for the second and final call, the amount is ₹14 (total cost) - ₹8 (already paid) = ₹6.
Therefore, the correct answer is:
(D) Second & final call ₹14.