Question

2. A company issued 5,000 equity shares of 3 10 each at * 2 Premium. Application were
received for 12,000 shares. Application for 2,000 shares were not allotted and prorata
allotment was made to the remaining applicants. Money was payable on shares as follows:
On application * 3, On allotment : 4 (including Premium) and Balance on call
. Shareholder
of 200 shares could not pay allotment amount. Calculation of Amount received on allotment.
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Answer 1

Answer:

amount due on allotment = 5000× 4 = 20000

(-) amount received in advance = 15000

(-) not received on 200 share =. 200

(800 - 600).

Amount received on allotment =

20000- 15000 - 200 = 4800