Manoj acquired 1,000 equity shares of ₹ 10 each in a listed company for ₹ 35,000 on 1st July, 2012. The company issued 1,000 rights shares in April, 2014 at, Rs. 15 per share. The company issued 2,000 bonus shares in June, 2018. The market price was ₹ 50 per share before bonus issue and ₹ 25 after such issue. The cost of acquisition of bonus shares would be
A. Nil
B. ₹ 50,000
C. ₹ 20,000
D. ₹ 1,00,000
Answer:A
Manoj acquired 1,000 equity shares of ₹ 10 each in a listed company for ₹ 35,000 on 1st July, 2012. The company issued 1,000 rights shares in April, 2014 at, Rs. 15 per share. The company issued 2,000 bonus shares in June, 2018. The market price was ₹ 50 per share before bonus issue and ₹ 25 after such issue. The cost of acquisition of bonus shares would be
A. Nil B. ₹ 50,000 C. ₹ 20,000 D. ₹ 1,00,000