Read the following text. Based on the information given , you are required to answer
Megha Ltd. invited applications for issuing 90,000 equity shares of ₹ 100 each at a premium of ₹ 60 per share. The amount was payable as follows:
On Application – ₹ 30 per share (including premium ₹ 10)
On Allotment – ₹ 70 per share (including premium ₹ 50)
On First and Final Call – Balance amount
Applications for 1,00,000 shares were received. Shares were allotted on pro-rata basis to all the applicants. Excess money received with application was adjusted towards sums due on allotment. Sudha, a shareholder holding 4,500 shares, failed to pay the allotment money. Her shares were forfeited immediately after allotment. Afterwards the first and final call was made. Rajat, a holder of 3,600 shares, failed to pay the first and final call. His shares were also forfeited. All the forfeited shares were re-issued for ₹ 90 per share fully paid up.
1. Amount of application money transferred to share allotment is ---
(A) ₹9,00,000
(B) ₹30,00,000
(C) ₹3,00,000
(D) ₹2,00,000
2. Amount of application money transferred to securities premium reserve is ---
(A) ₹9,00,000
(B) ₹10,00,000
(C) ₹54,00000
(D) ₹60,00,000
3. Amount debited to securities premium reserve debited on forfeiture of Sudha’s shares is ---
(A)₹2,70,000
(B) ₹2,25,000
(C) ₹45,000
(D) ₹3,00,000
4. Amount due on first and final call is ----
(A) ₹54,00,000
(B) ₹60,00,000
(C) ₹51,30,000
(D) ₹49,14,000
