Question :
X Ltd. issued 20,000 shares of Rs. 10 each payable as follows:
On application Rs. 6 and balance on allotment. Applications were received for 32,500 shares and pro rata allotment was made to the applicants of 25,000 shares. All the shareholders have paid the amount due up to allotment except X the allottee of 4,000 shares.
Question:- Calculate allotment money received later.
Option 1: Rs. 50,000
Option 2: Rs. 40,000
Option 3: Rs. 30,000
Option 4: None of these
Correct Answer: Rs. 40,000
Solution : Answer = Rs. 40,000
Total No. of shares applied by X = 25,000/20,000 x 4,000 = 5,000 shares.
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Calculation of allotment money received later: |
|
|
Total allotment money due (20,000 × Rs. 4) Less: Allotment money already received |
80,000 |
|
on application stage (5,000 × Rs. 6) |
30.000 50.000 |
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Less: Allotment amount due but not received from X [as per (i)] |
10,000 |
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Allotment money received |
40,000
