Question : Kirloskar Ltd. issued 20,000 shares of Rs. 10 each, payable Rs. 4 on application,  Rs. 3 on allotment and Rs. 3 on first and final call. Applications were received for 25,000 shares. The company decided to allot 20,000 shares on pro-rata basis and surplus of application money was adjusted for allotment money due.

Excess money adjusted towards Shares Allotment will be:

Option 1: Rs. 20,000

Option 2: Rs. 80,000

Option 3: Rs. 40,000

Option 4: Rs. 15,000

Question : Kirloskar Ltd. issued 20,000 shares of Rs. 10 each, payable Rs. 4 on application,  Rs. 3 on allotment and Rs. 3 on first and final call. Applications were received for 25,000 shares. The company decided to allot 20,000 shares on pro-rata basis and surplus of application money was adjusted for allotment money due.

Excess money adjusted towards Shares Allotment will be:

Option 1: Rs. 20,000

Option 2: Rs. 80,000

Option 3: Rs. 40,000

Option 4: Rs. 15,000

Question : X Ltd. invited applications for 50,000 shares of Rs.10 each at 10% premium, payable on Rs.3 on application, Rs.3 on allotment and balance amount on first and final call Applications were received for 1,20,000 shares and shares were allotted on pro-rata basis The excess money received on application was to be adjusted against allotment only. A shareholder who applied for 6,000 shares, could not pay the call money and his shares were accordingly forfeited.

Question:- Excess application money adjusted against the amount due on allotment is _____.

Option 1: Rs. 3,60,000

Option 2: Rs. 1,20,000

Option 3: Rs. 2,10,000

Option 4: None of these

Question : X Ltd. invited applications for 50,000 shares of Rs.10 each at 10% premium, payable on Rs.3 on application, Rs.3 on allotment and balance amount on first and final call Applications were received for 1,20,000 shares and shares were allotted on pro-rata basis The excess money received on application was to be adjusted against allotment only. A shareholder who applied for 6,000 shares, could not pay the call money and his shares were accordingly forfeited.

Question:- Excess application money adjusted against the amount due on allotment is _____.

Option 1: Rs. 3,60,000

Option 2: Rs. 1,20,000

Option 3: Rs. 2,10,000

Option 4: None of these

Question : X Ltd. invited applications for 50,000 shares of Rs.10 each at 10% premium, payable on Rs.3 on application, Rs.3 on allotment and balance amount on first and final call Applications were received for 1,20,000 shares and shares were allotted on pro-rata basis The excess money received on application was to be adjusted against allotment only. A shareholder who applied for 6,000 shares, could not pay the call money and his shares were accordingly forfeited.

Question:- At the time of allotment of shares, share capital will be credited with _______.

Option 1: Rs. 3,60,000

Option 2: Rs. 1,50,000

Option 3: Rs. 2,10,000

Option 4: None of these