Question

E Ltd. Had allotted 10,000 shares to the applicants of 14,000 shares on pro basis. The amount payable on application is Rs. 2. F applied for 420 shares. The number of shares allotted and the amount carried forward for adjustment against allotment money due from F=? (a) 60 share; Rs 120 (b) 340 shares; Rs 160 (c) 320 shares; Rs 200 (d) 300 shares; Rs 240

Answer 1

As shares are alloted on 7:5 basis,F has applied for 120 shares extra. So the amount Rs.240(120*2) will be adjusted against Allotment.