Question

6 marks:
1. X Itd issued 25,000 shares of
*10 each for public subscription.
The issue was underwritten as
follows:
X= 10,000 shares
Y= 5,000 shares
Z= 5,000 shares
The company received the
application for 18,000 shares of
which marked applications were
X= 6,000 Y= 6,000 Z= 3,000
Determine the liability of the
underwriters and also calculate
commission at 3% on issue price
payable to underwriter in cash.​

Answer 1

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