Question

99. Kiran Ltd. had allotted 20,000 shares to the applicants of 28,000 shares on pro-rata basis. The amount payable on application was 4. X applied for 840 shares. The number of shares allotted and the amount carried forward for adjustment against allotment due from X will be (a) 120 shares ; * 240 (6) 680 shares ; Rs 360 (0) 600 shares ; 3960 © (d) 240 shares : 480
pliz solve in brief ​

Answer 1

Answer:

Correct option is

D

600 shares; Rs 480

Pro- rata is a situation when amount on excess share is refunded,

SharesAlloted=TotalsharesappliedTotalsharesalloted×Shareappliedbyashareholder

Substitute the values in above equation 

SharesAlloted=2800shares2000shares×840shares=600shares

Adjustmentmoney=MoneyonApplication−Moneytobeusedup

Substitute the values in above equation

Adjustmentmoney=Rs2×840shares−Rs2×600shares

=Rs=480.