Question

35. A company issued 4,000 equity shares
of 50 each at par payable as under:
On application 20%; on allotment 40%;
on first call 10%; on final call-balance.
Applications were received for 10,000
shares. Allotment was made pro-rata.
How much amount will be received in
cash on allotment?

Answer 1

sorry bro l am also student

Answer 2

 

"40000"

Explanation:

The company issued 4000 equity shares of ₹50 each

Application 20%  =   800 shares

Allotment 40%    =   1600 shares

First call  10%     =   400 shares

Balance 30%       =   1200 shares

Applications were recieved for 10000 shares

                             10000 x 50 = 500000

                              800 x 50 =  40000

Allotment money Issued was 1600 x 50 =  80000

as for now,

                Allotment issued - Allotment Recieved

        i.e,      80000  -  40000  =  40000

               40000 is only needed