o ltd issued 10000 equity shares of 10 each at a premium of 20 % payable rs 4 on application (including premium ) 5 on allotment and the balance on first &final call .. the company recieved applicatuions for 15000 shares and allotment was pro -rata .. p to whom 3000 shares were alloted failed to pay the amount due on allotment all his shareswere forfieted after the call was made ... the forfieted shares were re -issued to q @ par ...assuming that no other bank transactions took place .. the bank balance of the company after effecting the above transactions is ???
CAclubindia
