Read the following information carefully and give the answer for the questions from 27 to 31. AB Ltd issued 3,00,000 shares of ₹ 100 each at 20% premium through e-IPO, payable as under: On Application : ₹ 40 (including 10% premium) per share On Allotment : ₹ 40 (excluding 10% premium) per share On First & Final Call : Balance Share was subscribed for 5,00,000 shares. 50,000 share applications were rejected with letter of regret and pro-rata allotment was made to remaining share applicants. All money was duly received except from Raghav, allotted to whom 15,000 shares failed to pay allotment and calls. These shares were forfeited and out of which 9,000 shares reissued at ₹ 75 per share fully paid. (27) What the amount was called in first & final call per share? (a) ₹ 20 per share (b) ₹ 40 per share (c) ₹ 30 per share (d) None of these (28) Which of the following amount received on allotment of shares? (a) ₹ 1,50,00,000 (b) ₹ 90,00,000 (c) ₹ 45,00,000 (d) ₹ 85,50,000
give ans with explanation
Answers
Answer:
27. 30 rs
28. 85,50,000
29. acc. to me ans should be 4,50,000 but ans given key is 6,00,000
"(27) c. ₹30
(28) d. ₹8550000"
Explanation:
(27). Share issued at rate of: ₹100/ each
Premium = 20%
i.e. 100 + 20% = 120
On Application (including premium) = 30 + 10 = 40
On Allotment (excluding premium) = 40 + 10 = 50
On Share First and Final Call = 40 + 50 - 120 = 30
Therefore, amount of per share in First and Final Call is 30.
(28). shares received for application = 500000
rejected share = (50000)
shares subscribed for application = 450000
Therefore,
subscribed shares = 450000 x 40 = 18000000
- Issued shares = 300000 x 40 = 12000000
= 6000000
Allotment issued = 300000 x 50 = 15000000
(less) 600000 = 9000000
Failed allotment share = 15000 x 50 = (450000)
8550000