Question

A company issued 5000 equity shares of 10 each at 2 premium. Application were received for 12000 shares application for 2000 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

Answer 1

4200 is the answer.

as 15000 application excess,800 not paid by shareholder

as per amount due= 20,000

so,20,000-15800

=4200

Answer 2

4800 is the answer. It is because out of 20000 due on allotment 15000 has been adjusted from application money.

Now A share holder who has 200 shares must have applied for 400 shares. So he has paid 200*3 excess money on application.
Also he has not paid 200*4=800

Hence Monet received on allotment is 5000-800+600=4800.