50) R. Ltd. invited applications for 2,000 shares of Rs 100 each, payable as follows:
Rs. 25 on Application
Rs.40 on Allotment
Rs.35 on First and Final Call
Applications were received for 2,500 shares. It was decided to allot the shares as
under:
A, who applied for 500 shares was allotted 300 shares.
B, who applied 1,200 shares, was allotted 1,000 shares .
C, who applied for 800 shares, was allotted 700 shares.
All money was received except from B who did not pay anything after application.
Journalise.
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Mona Ltd. Invited applications for 2,000 equity shares of Rs. 100 each, payable as follows:
Rs. 25 on application, Rs. 40 on allotment, Rs. 35 on first and final call.
Applications were received for 2,500 shares. It was decided to allot the shares as under:
W, who applied for 500 shares, was allotted 300 shares.
X, who applied for 1,200 shares, was allotted 1,000 shares.
Y, who applied for 800 shares, was allotted 700 shares.
All money was received except from X who did not pay anything after application. His shares were
forfeited after making all calls. Forfeited shares were re-issued at Rs 95 per share fully paid.
Explanation:
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