Question

Ashok a shareholder to whom company allotted 12,000 shares of ₹ 100 each, failed to pay allotment ₹ 30 per share and first & final call ₹ 30 per share. Ashok had paid only application money. Pro-rata allotment proportion is 5:6. What will be the amount of calls-in arrears on allotment, from the following: (a) ₹ 3,60,000 (b) ₹ 2,64,000 (c) ₹ 96,000 (d) None of these​

Answer 1

Explanation:

₹2,34,000:96,00000000

Answer 2

2,64,000

Given,

Shred of ashok= 12000 of Rs 100 each

Failed to pay allotment = Rs 30

Pro-rata allotment = 5:6

To find,

Amount of calls-in arrears on the allotment

Calls-in arrears on allotment:

allotment on due

= 12,000*30

= 3,60,000

Less:

Excess application amount

= (14,400-12,000) *40

= 2400*40

= 96,000

3,60,000-96,000

= 2,64,000

The amount of calls-in arrears on the allotment is 2,64,000.