CA CPT Model Test Paper 5 with solutions for online practice

O Ltd. Issued 10,000 equity shares of Rs. 10 each at a premium of 20% payable Rs. 4 on application (including premium ), Rs. 5 on allotment and the balance on first and final call. The company received applications for 15,000 shares and allotment was made pro-rata. P, to whom 3,000 shares were allotted, failed to pay the amount due on allotment. All his shares were forfeited after the call was allotted, failed to pay the amount due on allotment. All his shares were forfeited after the call was made. The forfeited shares were reissued to Q at par. Assuming that no other bank transactions took place, the bank balance of the company after effect in the above transactions?