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Use the following information for the questions 25 to 29
B Ltd. issued 80,000 equity shares of Rs.10 each, payable as under:
On application     Rs.3
On allotmen     Rs.4
On first call     Rs.2
On final call     Rs.1
The applications received for 1,20,000 shares were dealt with as under:
  •  Applicants of 20,000 shares were allotted in full.
  •  Applicants of 80,000 shares were allotted 60,000 shares pro-rata.
  •  Applications for 20,000 shares were rejected
 
Q.Total excess money received as compared to the number of shares allotted = ?
  • a)
    Rs 3,00,000
  • b)
    Rs 2,40,000
  • c)
    Rs 3,60,000
  • d)
    Rs 1,20,000
Correct answer is option 'D'. Can you explain this answer?
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Use the following information for the questions 25 to 29B Ltd. issued ...
Total excess money received as compared to the number of shares allotted:
To calculate the total excess money received, we need to determine the amount of money received from the applicants and compare it with the amount of money required for the allotted shares.
1. Amount received from applicants:
- Applicants of 20,000 shares were allotted in full, so the amount received from them is 20,000 shares x Rs.3 (application amount) = Rs.60,000.
- Applicants of 80,000 shares were allotted 60,000 shares pro-rata, so the amount received from them is 60,000 shares x Rs.3 (application amount) = Rs.1,80,000.
2. Amount required for allotted shares:
- Applicants of 20,000 shares were allotted in full, so the amount required for them is 20,000 shares x Rs.10 (face value) = Rs.2,00,000.
- Applicants of 80,000 shares were allotted 60,000 shares pro-rata, so the amount required for them is 60,000 shares x Rs.10 (face value) = Rs.6,00,000.
3. Excess money received:
- For the applicants allotted in full, there is no excess money received.
- For the applicants allotted pro-rata, the excess money received is the difference between the amount received and the amount required. So, the excess money received is Rs.1,80,000 - Rs.6,00,000 = Rs. (-4,20,000).
Therefore, the total excess money received as compared to the number of shares allotted is Rs. (-4,20,000).
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Use the following information for the questions 25 to 29B Ltd. issued ...
Total Excess Money Calculation
To determine the total excess money received compared to the number of shares allotted, we need to analyze the applications received and the payments made.
1. Total Applications Received
- Total applications for shares: 1,20,000 shares
- Total shares issued by B Ltd.: 80,000 shares
2. Allotment Breakdown
- Applicants of 20,000 shares were allotted in full: 20,000 shares
- Applicants of 80,000 shares were allotted 60,000 shares pro-rata: 60,000 shares
- Applications for 20,000 shares were rejected: 0 shares
3. Total Shares Allotted
- Total shares allotted = 20,000 + 60,000 = 80,000 shares
4. Application Money Received
- Application money per share: Rs. 3
- Total application money received for 1,20,000 shares = 1,20,000 shares × Rs. 3 = Rs. 3,60,000
5. Total Application Money Required for Allotted Shares
- Total application money required for 80,000 shares = 80,000 shares × Rs. 3 = Rs. 2,40,000
6. Calculation of Excess Money
- Total excess money = Total application money received - Total application money required
= Rs. 3,60,000 - Rs. 2,40,000
= Rs. 1,20,000
Conclusion
The total excess money received compared to the number of shares allotted is Rs. 1,20,000. Therefore, the correct answer is option 'D'.
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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 Es forfeited shares being reissued.Q.Net balance in Share Capital Account = ________.

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Use the following information for the questions 25 to 29B Ltd. issued 80,000 equity shares of Rs.10 each, payable as under:On application Rs.3On allotmen Rs.4On first call Rs.2On final call Rs.1The applications received for 1,20,000 shares were dealt with as under: Applicants of 20,000 shares were allotted in full. Applicants of 80,000 shares were allotted 60,000 shares pro-rata. Applications for 20,000 shares were rejectedQ.Total excess money received as compared to the number of shares allotted = ?a)Rs 3,00,000b)Rs 2,40,000c)Rs 3,60,000d)Rs 1,20,000Correct answer is option 'D'. Can you explain this answer?
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Use the following information for the questions 25 to 29B Ltd. issued 80,000 equity shares of Rs.10 each, payable as under:On application Rs.3On allotmen Rs.4On first call Rs.2On final call Rs.1The applications received for 1,20,000 shares were dealt with as under: Applicants of 20,000 shares were allotted in full. Applicants of 80,000 shares were allotted 60,000 shares pro-rata. Applications for 20,000 shares were rejectedQ.Total excess money received as compared to the number of shares allotted = ?a)Rs 3,00,000b)Rs 2,40,000c)Rs 3,60,000d)Rs 1,20,000Correct answer is option 'D'. 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 Use the following information for the questions 25 to 29B Ltd. issued 80,000 equity shares of Rs.10 each, payable as under:On application Rs.3On allotmen Rs.4On first call Rs.2On final call Rs.1The applications received for 1,20,000 shares were dealt with as under: Applicants of 20,000 shares were allotted in full. Applicants of 80,000 shares were allotted 60,000 shares pro-rata. Applications for 20,000 shares were rejectedQ.Total excess money received as compared to the number of shares allotted = ?a)Rs 3,00,000b)Rs 2,40,000c)Rs 3,60,000d)Rs 1,20,000Correct answer is option 'D'. 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 Use the following information for the questions 25 to 29B Ltd. issued 80,000 equity shares of Rs.10 each, payable as under:On application Rs.3On allotmen Rs.4On first call Rs.2On final call Rs.1The applications received for 1,20,000 shares were dealt with as under: Applicants of 20,000 shares were allotted in full. Applicants of 80,000 shares were allotted 60,000 shares pro-rata. Applications for 20,000 shares were rejectedQ.Total excess money received as compared to the number of shares allotted = ?a)Rs 3,00,000b)Rs 2,40,000c)Rs 3,60,000d)Rs 1,20,000Correct answer is option 'D'. Can you explain this answer?.
Solutions for Use the following information for the questions 25 to 29B Ltd. issued 80,000 equity shares of Rs.10 each, payable as under:On application Rs.3On allotmen Rs.4On first call Rs.2On final call Rs.1The applications received for 1,20,000 shares were dealt with as under: Applicants of 20,000 shares were allotted in full. Applicants of 80,000 shares were allotted 60,000 shares pro-rata. Applications for 20,000 shares were rejectedQ.Total excess money received as compared to the number of shares allotted = ?a)Rs 3,00,000b)Rs 2,40,000c)Rs 3,60,000d)Rs 1,20,000Correct answer is option 'D'. 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 Use the following information for the questions 25 to 29B Ltd. issued 80,000 equity shares of Rs.10 each, payable as under:On application Rs.3On allotmen Rs.4On first call Rs.2On final call Rs.1The applications received for 1,20,000 shares were dealt with as under: Applicants of 20,000 shares were allotted in full. Applicants of 80,000 shares were allotted 60,000 shares pro-rata. Applications for 20,000 shares were rejectedQ.Total excess money received as compared to the number of shares allotted = ?a)Rs 3,00,000b)Rs 2,40,000c)Rs 3,60,000d)Rs 1,20,000Correct answer is option 'D'. Can you explain this answer? defined & explained in the simplest way possible. Besides giving the explanation of Use the following information for the questions 25 to 29B Ltd. issued 80,000 equity shares of Rs.10 each, payable as under:On application Rs.3On allotmen Rs.4On first call Rs.2On final call Rs.1The applications received for 1,20,000 shares were dealt with as under: Applicants of 20,000 shares were allotted in full. Applicants of 80,000 shares were allotted 60,000 shares pro-rata. Applications for 20,000 shares were rejectedQ.Total excess money received as compared to the number of shares allotted = ?a)Rs 3,00,000b)Rs 2,40,000c)Rs 3,60,000d)Rs 1,20,000Correct answer is option 'D'. Can you explain this answer?, a detailed solution for Use the following information for the questions 25 to 29B Ltd. issued 80,000 equity shares of Rs.10 each, payable as under:On application Rs.3On allotmen Rs.4On first call Rs.2On final call Rs.1The applications received for 1,20,000 shares were dealt with as under: Applicants of 20,000 shares were allotted in full. Applicants of 80,000 shares were allotted 60,000 shares pro-rata. Applications for 20,000 shares were rejectedQ.Total excess money received as compared to the number of shares allotted = ?a)Rs 3,00,000b)Rs 2,40,000c)Rs 3,60,000d)Rs 1,20,000Correct answer is option 'D'. Can you explain this answer? has been provided alongside types of Use the following information for the questions 25 to 29B Ltd. issued 80,000 equity shares of Rs.10 each, payable as under:On application Rs.3On allotmen Rs.4On first call Rs.2On final call Rs.1The applications received for 1,20,000 shares were dealt with as under: Applicants of 20,000 shares were allotted in full. Applicants of 80,000 shares were allotted 60,000 shares pro-rata. Applications for 20,000 shares were rejectedQ.Total excess money received as compared to the number of shares allotted = ?a)Rs 3,00,000b)Rs 2,40,000c)Rs 3,60,000d)Rs 1,20,000Correct answer is option 'D'. Can you explain this answer? theory, EduRev gives you an ample number of questions to practice Use the following information for the questions 25 to 29B Ltd. issued 80,000 equity shares of Rs.10 each, payable as under:On application Rs.3On allotmen Rs.4On first call Rs.2On final call Rs.1The applications received for 1,20,000 shares were dealt with as under: Applicants of 20,000 shares were allotted in full. Applicants of 80,000 shares were allotted 60,000 shares pro-rata. Applications for 20,000 shares were rejectedQ.Total excess money received as compared to the number of shares allotted = ?a)Rs 3,00,000b)Rs 2,40,000c)Rs 3,60,000d)Rs 1,20,000Correct answer is option 'D'. Can you explain this answer? tests, examples and also practice CA Foundation tests.
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