Question

Tata limited issues 1,00,000 shares of rupees 10 each for public subscription. Application along with money

are received for 80,000 shares. How can the company allot these shares. Explain in detail.​

Answer 1

Money received in Share application account - 4,50,000 (1,50,000 X 3)Less: Money for share allotment - 3,00,000 (100000 X 3)Less: money for shares rejected - 60,000 (20000 X 3) __________Excess money available 90,000The amount of excess application money available for adjustment against allotment is Rs.90,000.

Answer 2

Answer:

hope this answer will be helpful