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Question
Sujata Ltd. issued 5,000, 7% Debentures of ₹ 100 each at a premium of 10%. According to the terms of issue, 40% of the amount was payable on application and the balance on allotment. The issue was fully subscribed and all amounts were duly received. The amounts received on application and allotment, respectively, were ______.
Options
₹ 2,50,000 and ₹ 3,00,000
₹ 2,00,000 and ₹ 3,00,000
₹ 2,00,000 and ₹ 3,50,000
₹ 2,00,000 and ₹ 2,50,000
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Solution
Sujata Ltd. issued 5,000, 7% Debentures of ₹ 100 each at a premium of 10%. According to the terms of issue, 40% of the amount was payable on application and the balance on allotment. The issue was fully subscribed, and all amounts were duly received. The amounts received on application and allotment, respectively, were ₹ 2,00,000 and ₹ 3,00,000.
