Question

PP Ltd. invited applications for issuing 10,000 equity shares of ₹ 10 each. Applications for 9,500 shares were received and allotment was made to all the applicants. Ravi, a shareholder holding 200 shares failed to pay allotment money and his shares were forfeited. Mohan to whom 100 shares were allotted failed to pay the first call and his shares were forfeited immediately after the first call was made. Afterwards, the second and final call was made. The second and final call will be due on how many shares?

Options

• 9,500

• 9,300

• 9,200

• 10,000

Answer 1

9,200

Explanation:

9,500 - 200 - 100 = 9,200