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D Ltd. issued 2,00,000 shares of Rs.100 each at a premium of Rs.20 per share payable as follows :
On application Rs.20
On allotment Rs.50 (including premium)
On first call Rs.30
On second and final call Rs.20
Applications were received for 3,00,000 shares and pro rata allotment was made to applicants of 2,40,000 shares. Money excess received on application was employed on account of sum due on allotment as part of share capital. E, to whom 4,000 shares were allotted, failed to pay the allotment money and on his subsequent failure to pay the first call, his shares were forfeited and F, the holder of 6,000 shares failed to pay the two calls and his shares were forfeited after the second call. Of the forfeited shares, 8,000 shares were reissued to G at a discount of 10%, the whole of E’s forfeited shares being reissued.
 
Q.Amount refunded to shareholders = __________.
  • a)
    Rs 20,00,000
  • b)
    Rs 16,00,000
  • c)
    Rs 12,00,000
  • d)
    Rs 8,00,000
Correct answer is option 'C'. Can you explain this answer?
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D Ltd. issued 2,00,000 shares of Rs.100 each at a premium of Rs.20 per...
Correct Answer :- C
Explanation : Total refund amount = (300000-240000) * 20 
= 12,00,000
so , adjustment towards allotment (20,00,000 -12,00,000) 
= 8,00,000
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D Ltd. issued 2,00,000 shares of Rs.100 each at a premium of Rs.20 per...
Calculation of Amount Refunded to Shareholders

Issue of Shares

- Number of shares issued = 2,00,000
- Face value of each share = Rs.100
- Premium per share = Rs.20
- Total amount received on application = 2,00,000 x Rs.20 = Rs.40,00,000
- Total amount received on allotment = 2,40,000 x Rs.50 = Rs.1,20,00,000
- Total amount received on first call = 2,40,000 x Rs.30 = Rs.72,00,000
- Total amount received on second and final call = 2,40,000 x Rs.20 = Rs.48,00,000
- Total amount received = Rs.2,80,00,000

Allotment and Forfeiture of Shares

- Applications received = 3,00,000
- Shares allotted = 2,40,000
- Excess application money utilized = Rs.60,00,000 (3,00,000 – 2,40,000 x Rs.20)
- Shares forfeited – E = 4,000, F = 6,000
- Total forfeited shares = 10,000

Reissue of Forfeited Shares

- Forfeited shares reissued to G at a discount of 10% = 8,000
- Reissued price per share = Rs.90 (Rs.100 – Rs.10 discount)
- Total reissued amount = 8,000 x Rs.90 = Rs.7,20,000

Amount Refunded to Shareholders

- Total amount received on allotment and calls = Rs.1,20,00,000 + Rs.72,00,000 + Rs.48,00,000 = Rs.2,40,00,000
- Excess application money utilized = Rs.60,00,000
- Reissued amount received = Rs.7,20,000
- Total amount received = Rs.3,07,20,000
- Amount refunded to shareholders = Total amount received – Total amount called up = Rs.3,07,20,000 – (2,40,000 x Rs.80) = Rs.12,00,000

Therefore, the amount refunded to shareholders is Rs.12,00,000.
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D Ltd. issued 2,00,000 shares of Rs.100 each at a premium of Rs.20 per...
Company issue 200000 shares, but application money were received by shareholder for 300000 shares so further company decide to issue on pro-rata basis so he issue shares of 240000, an app received was for 300000 shares so excess of 60000 shares money received was be refunded back to applicant 60000*20 = 1200000 we multiply by 20 because on application company called up ruppe 20. 
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D Ltd. issued 2,00,000 shares of Rs.100 each at a premium of Rs.20 per share payable as follows :On application Rs.20On allotment Rs.50 (including premium)On first call Rs.30On second and final call Rs.20Applications were received for 3,00,000 shares and pro rata allotment was made to applicants of 2,40,000 shares. Money excess received on application was employed on account of sum due on allotment as part of share capital. E, to whom 4,000 shares were allotted, failed to pay the allotment money and on his subsequent failure to pay the first call, his shares were forfeited and F, the holder of 6,000 shares failed to pay the two calls and his shares were forfeited after the second call. Of the forfeited shares, 8,000 shares were reissued to G at a discount of 10%, the whole of E’s forfeited shares being reissued.Q.Amount refunded to shareholders = __________.a)Rs 20,00,000b)Rs 16,00,000c)Rs 12,00,000d)Rs 8,00,000Correct answer is option 'C'. Can you explain this answer?
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D Ltd. issued 2,00,000 shares of Rs.100 each at a premium of Rs.20 per share payable as follows :On application Rs.20On allotment Rs.50 (including premium)On first call Rs.30On second and final call Rs.20Applications were received for 3,00,000 shares and pro rata allotment was made to applicants of 2,40,000 shares. Money excess received on application was employed on account of sum due on allotment as part of share capital. E, to whom 4,000 shares were allotted, failed to pay the allotment money and on his subsequent failure to pay the first call, his shares were forfeited and F, the holder of 6,000 shares failed to pay the two calls and his shares were forfeited after the second call. Of the forfeited shares, 8,000 shares were reissued to G at a discount of 10%, the whole of E’s forfeited shares being reissued.Q.Amount refunded to shareholders = __________.a)Rs 20,00,000b)Rs 16,00,000c)Rs 12,00,000d)Rs 8,00,000Correct answer is option 'C'. Can you explain this answer? for CA Foundation 2024 is part of CA Foundation preparation. The Question and answers have been prepared according to the CA Foundation exam syllabus. Information about D Ltd. issued 2,00,000 shares of Rs.100 each at a premium of Rs.20 per share payable as follows :On application Rs.20On allotment Rs.50 (including premium)On first call Rs.30On second and final call Rs.20Applications were received for 3,00,000 shares and pro rata allotment was made to applicants of 2,40,000 shares. Money excess received on application was employed on account of sum due on allotment as part of share capital. E, to whom 4,000 shares were allotted, failed to pay the allotment money and on his subsequent failure to pay the first call, his shares were forfeited and F, the holder of 6,000 shares failed to pay the two calls and his shares were forfeited after the second call. Of the forfeited shares, 8,000 shares were reissued to G at a discount of 10%, the whole of E’s forfeited shares being reissued.Q.Amount refunded to shareholders = __________.a)Rs 20,00,000b)Rs 16,00,000c)Rs 12,00,000d)Rs 8,00,000Correct answer is option 'C'. Can you explain this answer? covers all topics & solutions for CA Foundation 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for D Ltd. issued 2,00,000 shares of Rs.100 each at a premium of Rs.20 per share payable as follows :On application Rs.20On allotment Rs.50 (including premium)On first call Rs.30On second and final call Rs.20Applications were received for 3,00,000 shares and pro rata allotment was made to applicants of 2,40,000 shares. Money excess received on application was employed on account of sum due on allotment as part of share capital. E, to whom 4,000 shares were allotted, failed to pay the allotment money and on his subsequent failure to pay the first call, his shares were forfeited and F, the holder of 6,000 shares failed to pay the two calls and his shares were forfeited after the second call. Of the forfeited shares, 8,000 shares were reissued to G at a discount of 10%, the whole of E’s forfeited shares being reissued.Q.Amount refunded to shareholders = __________.a)Rs 20,00,000b)Rs 16,00,000c)Rs 12,00,000d)Rs 8,00,000Correct answer is option 'C'. Can you explain this answer?.
Solutions for D Ltd. issued 2,00,000 shares of Rs.100 each at a premium of Rs.20 per share payable as follows :On application Rs.20On allotment Rs.50 (including premium)On first call Rs.30On second and final call Rs.20Applications were received for 3,00,000 shares and pro rata allotment was made to applicants of 2,40,000 shares. Money excess received on application was employed on account of sum due on allotment as part of share capital. E, to whom 4,000 shares were allotted, failed to pay the allotment money and on his subsequent failure to pay the first call, his shares were forfeited and F, the holder of 6,000 shares failed to pay the two calls and his shares were forfeited after the second call. Of the forfeited shares, 8,000 shares were reissued to G at a discount of 10%, the whole of E’s forfeited shares being reissued.Q.Amount refunded to shareholders = __________.a)Rs 20,00,000b)Rs 16,00,000c)Rs 12,00,000d)Rs 8,00,000Correct answer is option 'C'. Can you explain this answer? in English & in Hindi are available as part of our courses for CA Foundation. Download more important topics, notes, lectures and mock test series for CA Foundation Exam by signing up for free.
Here you can find the meaning of D Ltd. issued 2,00,000 shares of Rs.100 each at a premium of Rs.20 per share payable as follows :On application Rs.20On allotment Rs.50 (including premium)On first call Rs.30On second and final call Rs.20Applications were received for 3,00,000 shares and pro rata allotment was made to applicants of 2,40,000 shares. Money excess received on application was employed on account of sum due on allotment as part of share capital. E, to whom 4,000 shares were allotted, failed to pay the allotment money and on his subsequent failure to pay the first call, his shares were forfeited and F, the holder of 6,000 shares failed to pay the two calls and his shares were forfeited after the second call. Of the forfeited shares, 8,000 shares were reissued to G at a discount of 10%, the whole of E’s forfeited shares being reissued.Q.Amount refunded to shareholders = __________.a)Rs 20,00,000b)Rs 16,00,000c)Rs 12,00,000d)Rs 8,00,000Correct answer is option 'C'. Can you explain this answer? defined & explained in the simplest way possible. Besides giving the explanation of D Ltd. issued 2,00,000 shares of Rs.100 each at a premium of Rs.20 per share payable as follows :On application Rs.20On allotment Rs.50 (including premium)On first call Rs.30On second and final call Rs.20Applications were received for 3,00,000 shares and pro rata allotment was made to applicants of 2,40,000 shares. Money excess received on application was employed on account of sum due on allotment as part of share capital. E, to whom 4,000 shares were allotted, failed to pay the allotment money and on his subsequent failure to pay the first call, his shares were forfeited and F, the holder of 6,000 shares failed to pay the two calls and his shares were forfeited after the second call. Of the forfeited shares, 8,000 shares were reissued to G at a discount of 10%, the whole of E’s forfeited shares being reissued.Q.Amount refunded to shareholders = __________.a)Rs 20,00,000b)Rs 16,00,000c)Rs 12,00,000d)Rs 8,00,000Correct answer is option 'C'. Can you explain this answer?, a detailed solution for D Ltd. issued 2,00,000 shares of Rs.100 each at a premium of Rs.20 per share payable as follows :On application Rs.20On allotment Rs.50 (including premium)On first call Rs.30On second and final call Rs.20Applications were received for 3,00,000 shares and pro rata allotment was made to applicants of 2,40,000 shares. Money excess received on application was employed on account of sum due on allotment as part of share capital. E, to whom 4,000 shares were allotted, failed to pay the allotment money and on his subsequent failure to pay the first call, his shares were forfeited and F, the holder of 6,000 shares failed to pay the two calls and his shares were forfeited after the second call. Of the forfeited shares, 8,000 shares were reissued to G at a discount of 10%, the whole of E’s forfeited shares being reissued.Q.Amount refunded to shareholders = __________.a)Rs 20,00,000b)Rs 16,00,000c)Rs 12,00,000d)Rs 8,00,000Correct answer is option 'C'. Can you explain this answer? has been provided alongside types of D Ltd. issued 2,00,000 shares of Rs.100 each at a premium of Rs.20 per share payable as follows :On application Rs.20On allotment Rs.50 (including premium)On first call Rs.30On second and final call Rs.20Applications were received for 3,00,000 shares and pro rata allotment was made to applicants of 2,40,000 shares. 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Can you explain this answer? theory, EduRev gives you an ample number of questions to practice D Ltd. issued 2,00,000 shares of Rs.100 each at a premium of Rs.20 per share payable as follows :On application Rs.20On allotment Rs.50 (including premium)On first call Rs.30On second and final call Rs.20Applications were received for 3,00,000 shares and pro rata allotment was made to applicants of 2,40,000 shares. Money excess received on application was employed on account of sum due on allotment as part of share capital. E, to whom 4,000 shares were allotted, failed to pay the allotment money and on his subsequent failure to pay the first call, his shares were forfeited and F, the holder of 6,000 shares failed to pay the two calls and his shares were forfeited after the second call. Of the forfeited shares, 8,000 shares were reissued to G at a discount of 10%, the whole of E’s forfeited shares being reissued.Q.Amount refunded to shareholders = __________.a)Rs 20,00,000b)Rs 16,00,000c)Rs 12,00,000d)Rs 8,00,000Correct answer is option 'C'. Can you explain this answer? tests, examples and also practice CA Foundation tests.
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