Question

Sun Ltd. had allotted 20,000 shares to the applicants of 35,000 shares on
pro-rata basis. The amount payable on application is 4 per share. Surbhi
applied for 1,400 shares. The number of shares allotted and the amount
carried forward for adjustment against allotment money due from Surbhi are:
(a) 800 shares, 1,600
(b) 1,000 shares, * 2,400
(c) 1,000 shares, * 1,600
(d) 800 shares, * 2,400

Also please mind giving me the equation.​

Answer 1

Answer:

d is correcty answer as the total share are 20000

Answer 2

(d) 800 shares, ₹2,400

Total application received by Sun Ltd. = 35,000

20,000 shares allotted to the applicants of 35,000 shares on pro-rata basis.

Amount payable on application = ₹4 per share.

Surbhi applied for = 1,400 shares.

The number of shares allotted to Surbhi are =

= [Total number of shares allotted by Sun ltd. / Total number of application received] * Total shares applied by Surbhi.

= [ 20,000 / 35,000 ] * 1,400

= 800 shares.

The amount for adjustment against allotment money due from Surbhi = amount received on application from Surbhi - amount that is to be used up.

= [₹4 * 1,400] - [₹4 * 800]

=5,600 - 3,200

= ₹2,400