Or
Ganesh Ltd. offered for public subscription 20,000 Equity shares of # 100 each at * 110 per share
The amount were payable as follows:
On Application * 30 per
share.
On Allotment * 40 per share (including * 10 as premium).
On First & Final call * 40.
Applications for 24,000 shares were received and pro-rata allotment was made.
Adil, an applicant for 240 shares, failed to pay the allotment and call money.
Bose, a holder of 400 shares, failed to pay the first and final call.
All these shares on which amount was unpaid, were forfeited. out of the forefeited share300 ( the whole of adils share being included) were reissued at@80per share fully paid up.
Answers
Answer:
Ganesh Ltd. offered for public subscription 20,000 Equity shares of # 100 each at * 110 per share
The amount were payable as follows:
On Application * 30 per
share.
On Allotment * 40 per share (including * 10 as premium).
On First & Final call * 40.
Applications for 24,000 shares were received and pro-rata allotment was made.
Adil, an applicant for 240 shares, failed to pay the allotment and call money.
Bose, a holder of 400 shares, failed to pay the first and final call.
All these shares on which amount was unpaid, were forfeited. out of the forefeited share300 ( the whole of adils share being included) were reissued at@80per share fully paid up.
Explanation:
Ganesh Ltd. offered for public subscription 20,000 Equity shares of # 100 each at * 110 per share
The amount were payable as follows:
On Application * 30 per
share.
On Allotment * 40 per share (including * 10 as premium).
On First & Final call * 40.
Applications for 24,000 shares were received and pro-rata allotment was made.
Adil, an applicant for 240 shares, failed to pay the allotment and call money.
Bose, a holder of 400 shares, failed to pay the first and final call.
All these shares on which amount was unpaid, were forfeited. out of the forefeited share300 ( the whole of adils share being included) were reissued at@80per share fully paid up.
Explanation:
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