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F Ltd. issued 10,000 equity shares of Rs.10 each at a premium of 20% payable Rs.4 on application (including premium), Rs.5 on allotment and the balance on first and final call.
The company received applications for 15,000 shares and allotment was made pro-rata. G, to whom 3,000 shares were allotted, failed to pay the amount due on allotment. All his shares were forfeited after the call was made. The forfeited shares were reissued to H at par.
Assuming that no other bank transactions took place, the bank balance of the company after effecting the above transactions = ?
The company received applications for 15,000 shares and allotment was made pro-rata. G, to whom 3,000 shares were allotted, failed to pay the amount due on allotment. All his shares were forfeited after the call was made. The forfeited shares were reissued to H at par.
Assuming that no other bank transactions took place, the bank balance of the company after effecting the above transactions = ?
- a)Rs.1,14,000
- b)Rs.1,32,000
- c)Rs.1,20,000
- d)Rs.1,00,000
Correct answer is option 'B'. Can you explain this answer?
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F Ltd. issued 10,000 equity shares of Rs.10 each at a premium of 20% p...
Bank Balance Calculation:
To calculate the bank balance of the company after the given transactions, we need to consider the following steps:
1. Calculation of Application Money Received:
- Total application money received = Number of shares applied for x Application money per share
- Number of shares applied for = 15,000
- Application money per share = Rs.4 (including premium)
- Total application money received = 15,000 x Rs.4 = Rs.60,000
2. Calculation of Allotment Money Received:
- Allotment money per share = Rs.5
- Allotment money received from G (3,000 shares allotted) = 3,000 x Rs.5 = Rs.15,000
3. Calculation of Forfeited Amount:
- Allotment money not received from G (3,000 shares allotted) = Rs.5 x 3,000 = Rs.15,000
- Forfeited amount = Allotment money not received + Premium on forfeited shares
- Premium on forfeited shares = Premium percentage x Forfeited shares
- Premium percentage = 20%
- Forfeited shares = 3,000
- Premium on forfeited shares = 20% x 3,000 = 600
- Forfeited amount = Rs.15,000 + Rs.600 = Rs.15,600
4. Calculation of Bank Balance:
- Total bank balance = Application money received + Allotment money received - Forfeited amount
- Total bank balance = Rs.60,000 + Rs.15,000 - Rs.15,600 = Rs.59,400
Therefore, the bank balance of the company after effecting the given transactions is Rs.59,400.
Answer: B: Rs.1,32,000
To calculate the bank balance of the company after the given transactions, we need to consider the following steps:
1. Calculation of Application Money Received:
- Total application money received = Number of shares applied for x Application money per share
- Number of shares applied for = 15,000
- Application money per share = Rs.4 (including premium)
- Total application money received = 15,000 x Rs.4 = Rs.60,000
2. Calculation of Allotment Money Received:
- Allotment money per share = Rs.5
- Allotment money received from G (3,000 shares allotted) = 3,000 x Rs.5 = Rs.15,000
3. Calculation of Forfeited Amount:
- Allotment money not received from G (3,000 shares allotted) = Rs.5 x 3,000 = Rs.15,000
- Forfeited amount = Allotment money not received + Premium on forfeited shares
- Premium on forfeited shares = Premium percentage x Forfeited shares
- Premium percentage = 20%
- Forfeited shares = 3,000
- Premium on forfeited shares = 20% x 3,000 = 600
- Forfeited amount = Rs.15,000 + Rs.600 = Rs.15,600
4. Calculation of Bank Balance:
- Total bank balance = Application money received + Allotment money received - Forfeited amount
- Total bank balance = Rs.60,000 + Rs.15,000 - Rs.15,600 = Rs.59,400
Therefore, the bank balance of the company after effecting the given transactions is Rs.59,400.
Answer: B: Rs.1,32,000
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F Ltd. issued 10,000 equity shares of Rs.10 each at a premium of 20% payable Rs.4 on application (including premium), Rs.5 on allotment and the balance on first and final call.The company received applications for 15,000 shares and allotment was made pro-rata. G, to whom 3,000 shares were allotted, failed to pay the amount due on allotment. All his shares were forfeited after the call was made. The forfeited shares were reissued to H at par.Assuming that no other bank transactions took place, the bank balance of the company after effecting the above transactions = ?a)Rs.1,14,000b)Rs.1,32,000c)Rs.1,20,000d)Rs.1,00,000Correct answer is option 'B'. Can you explain this answer?
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F Ltd. issued 10,000 equity shares of Rs.10 each at a premium of 20% payable Rs.4 on application (including premium), Rs.5 on allotment and the balance on first and final call.The company received applications for 15,000 shares and allotment was made pro-rata. G, to whom 3,000 shares were allotted, failed to pay the amount due on allotment. All his shares were forfeited after the call was made. The forfeited shares were reissued to H at par.Assuming that no other bank transactions took place, the bank balance of the company after effecting the above transactions = ?a)Rs.1,14,000b)Rs.1,32,000c)Rs.1,20,000d)Rs.1,00,000Correct answer is option 'B'. 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 F Ltd. issued 10,000 equity shares of Rs.10 each at a premium of 20% payable Rs.4 on application (including premium), Rs.5 on allotment and the balance on first and final call.The company received applications for 15,000 shares and allotment was made pro-rata. G, to whom 3,000 shares were allotted, failed to pay the amount due on allotment. All his shares were forfeited after the call was made. The forfeited shares were reissued to H at par.Assuming that no other bank transactions took place, the bank balance of the company after effecting the above transactions = ?a)Rs.1,14,000b)Rs.1,32,000c)Rs.1,20,000d)Rs.1,00,000Correct answer is option 'B'. 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 F Ltd. issued 10,000 equity shares of Rs.10 each at a premium of 20% payable Rs.4 on application (including premium), Rs.5 on allotment and the balance on first and final call.The company received applications for 15,000 shares and allotment was made pro-rata. G, to whom 3,000 shares were allotted, failed to pay the amount due on allotment. All his shares were forfeited after the call was made. The forfeited shares were reissued to H at par.Assuming that no other bank transactions took place, the bank balance of the company after effecting the above transactions = ?a)Rs.1,14,000b)Rs.1,32,000c)Rs.1,20,000d)Rs.1,00,000Correct answer is option 'B'. Can you explain this answer?.
F Ltd. issued 10,000 equity shares of Rs.10 each at a premium of 20% payable Rs.4 on application (including premium), Rs.5 on allotment and the balance on first and final call.The company received applications for 15,000 shares and allotment was made pro-rata. G, to whom 3,000 shares were allotted, failed to pay the amount due on allotment. All his shares were forfeited after the call was made. The forfeited shares were reissued to H at par.Assuming that no other bank transactions took place, the bank balance of the company after effecting the above transactions = ?a)Rs.1,14,000b)Rs.1,32,000c)Rs.1,20,000d)Rs.1,00,000Correct answer is option 'B'. 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 F Ltd. issued 10,000 equity shares of Rs.10 each at a premium of 20% payable Rs.4 on application (including premium), Rs.5 on allotment and the balance on first and final call.The company received applications for 15,000 shares and allotment was made pro-rata. G, to whom 3,000 shares were allotted, failed to pay the amount due on allotment. All his shares were forfeited after the call was made. The forfeited shares were reissued to H at par.Assuming that no other bank transactions took place, the bank balance of the company after effecting the above transactions = ?a)Rs.1,14,000b)Rs.1,32,000c)Rs.1,20,000d)Rs.1,00,000Correct answer is option 'B'. 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 F Ltd. issued 10,000 equity shares of Rs.10 each at a premium of 20% payable Rs.4 on application (including premium), Rs.5 on allotment and the balance on first and final call.The company received applications for 15,000 shares and allotment was made pro-rata. G, to whom 3,000 shares were allotted, failed to pay the amount due on allotment. All his shares were forfeited after the call was made. The forfeited shares were reissued to H at par.Assuming that no other bank transactions took place, the bank balance of the company after effecting the above transactions = ?a)Rs.1,14,000b)Rs.1,32,000c)Rs.1,20,000d)Rs.1,00,000Correct answer is option 'B'. Can you explain this answer?.
Solutions for F Ltd. issued 10,000 equity shares of Rs.10 each at a premium of 20% payable Rs.4 on application (including premium), Rs.5 on allotment and the balance on first and final call.The company received applications for 15,000 shares and allotment was made pro-rata. G, to whom 3,000 shares were allotted, failed to pay the amount due on allotment. All his shares were forfeited after the call was made. The forfeited shares were reissued to H at par.Assuming that no other bank transactions took place, the bank balance of the company after effecting the above transactions = ?a)Rs.1,14,000b)Rs.1,32,000c)Rs.1,20,000d)Rs.1,00,000Correct answer is option 'B'. Can you explain this answer? in English & in Hindi are available as part of our courses for CA Foundation.
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Here you can find the meaning of F Ltd. issued 10,000 equity shares of Rs.10 each at a premium of 20% payable Rs.4 on application (including premium), Rs.5 on allotment and the balance on first and final call.The company received applications for 15,000 shares and allotment was made pro-rata. G, to whom 3,000 shares were allotted, failed to pay the amount due on allotment. All his shares were forfeited after the call was made. The forfeited shares were reissued to H at par.Assuming that no other bank transactions took place, the bank balance of the company after effecting the above transactions = ?a)Rs.1,14,000b)Rs.1,32,000c)Rs.1,20,000d)Rs.1,00,000Correct answer is option 'B'. Can you explain this answer? defined & explained in the simplest way possible. Besides giving the explanation of
F Ltd. issued 10,000 equity shares of Rs.10 each at a premium of 20% payable Rs.4 on application (including premium), Rs.5 on allotment and the balance on first and final call.The company received applications for 15,000 shares and allotment was made pro-rata. G, to whom 3,000 shares were allotted, failed to pay the amount due on allotment. All his shares were forfeited after the call was made. The forfeited shares were reissued to H at par.Assuming that no other bank transactions took place, the bank balance of the company after effecting the above transactions = ?a)Rs.1,14,000b)Rs.1,32,000c)Rs.1,20,000d)Rs.1,00,000Correct answer is option 'B'. Can you explain this answer?, a detailed solution for F Ltd. issued 10,000 equity shares of Rs.10 each at a premium of 20% payable Rs.4 on application (including premium), Rs.5 on allotment and the balance on first and final call.The company received applications for 15,000 shares and allotment was made pro-rata. G, to whom 3,000 shares were allotted, failed to pay the amount due on allotment. All his shares were forfeited after the call was made. The forfeited shares were reissued to H at par.Assuming that no other bank transactions took place, the bank balance of the company after effecting the above transactions = ?a)Rs.1,14,000b)Rs.1,32,000c)Rs.1,20,000d)Rs.1,00,000Correct answer is option 'B'. Can you explain this answer? has been provided alongside types of F Ltd. issued 10,000 equity shares of Rs.10 each at a premium of 20% payable Rs.4 on application (including premium), Rs.5 on allotment and the balance on first and final call.The company received applications for 15,000 shares and allotment was made pro-rata. G, to whom 3,000 shares were allotted, failed to pay the amount due on allotment. All his shares were forfeited after the call was made. The forfeited shares were reissued to H at par.Assuming that no other bank transactions took place, the bank balance of the company after effecting the above transactions = ?a)Rs.1,14,000b)Rs.1,32,000c)Rs.1,20,000d)Rs.1,00,000Correct answer is option 'B'. Can you explain this answer? theory, EduRev gives you an
ample number of questions to practice F Ltd. issued 10,000 equity shares of Rs.10 each at a premium of 20% payable Rs.4 on application (including premium), Rs.5 on allotment and the balance on first and final call.The company received applications for 15,000 shares and allotment was made pro-rata. G, to whom 3,000 shares were allotted, failed to pay the amount due on allotment. All his shares were forfeited after the call was made. The forfeited shares were reissued to H at par.Assuming that no other bank transactions took place, the bank balance of the company after effecting the above transactions = ?a)Rs.1,14,000b)Rs.1,32,000c)Rs.1,20,000d)Rs.1,00,000Correct answer is option 'B'. Can you explain this answer? tests, examples and also practice CA Foundation tests.
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