Question

HOTS Q. 75. E Ltd. had allotted 10,000 shares to the applicants of 14,000 shares on pro-rata basis . The amount payable on application was 32. F applied for 420 shares. The number of shares allotted and the amount carried forward for adjustment against allotment money due from F will be : (B) 340 shares; 160 (D) 300 shares; 240 (A) 60 shares; 120 (C) 320 shares, 3200
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Answer 1

Answer:

D

Explanation:

Application received = 14000

No. Of shares allotted = 10,000

No. of shares allotted to F = 420 X 10/14 = 300 shares

Application money received from F

F sent application money for 420 shares X 2 = Rs. 840

Application money adjusted against 300 shares

Application (300 X 2)                                  600

Excess Money                                             240

Rs 240 is to be adjusted against allotment