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A Ltd with a nominal capital of rs 10,00,000 in equity shares of rs 10 each has issued 24,000 shares to the public, payable on application rs 2, on allotment rs 3, on 1st call rs 2 and the balance on final call. Applications were received for 24000 shares. All the money due on the shares, on which all the calls were made, were duly received excepting that, a shareholder holding 1500 shares failed to pay other the calls and there upon all these shares were forfeited by the board of directors.?
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A Ltd with a nominal capital of rs 10,00,000 in equity shares of rs 10...
Explanation of A Ltd's Share Issuance and Forfeiture

Nominal Capital and Equity Shares
- A Ltd has a nominal capital of Rs 10,00,000 in equity shares of Rs 10 each

Public Issuance and Payment Terms
- The company issued 24,000 shares to the public
- The payment terms were:
- Rs 2 on application
- Rs 3 on allotment
- Rs 2 on 1st call
- Balance on final call

Applications Received
- The company received applications for all 24,000 shares issued

Receipt of Payments
- The company received all payments due on the shares on which all calls were made

Forfeiture of Shares
- A shareholder holding 1500 shares failed to pay the calls
- The board of directors forfeited these shares

Implications of Forfeiture
- The company can sell the forfeited shares to recover the unpaid amount
- The shareholder loses ownership and right to any future dividends or profits from the forfeited shares
- The company can use the forfeited shares to issue new shares or distribute among existing shareholders
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A Ltd with a nominal capital of rs 10,00,000 in equity shares of rs 10 each has issued 24,000 shares to the public, payable on application rs 2, on allotment rs 3, on 1st call rs 2 and the balance on final call. Applications were received for 24000 shares. All the money due on the shares, on which all the calls were made, were duly received excepting that, a shareholder holding 1500 shares failed to pay other the calls and there upon all these shares were forfeited by the board of directors.?
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A Ltd with a nominal capital of rs 10,00,000 in equity shares of rs 10 each has issued 24,000 shares to the public, payable on application rs 2, on allotment rs 3, on 1st call rs 2 and the balance on final call. Applications were received for 24000 shares. All the money due on the shares, on which all the calls were made, were duly received excepting that, a shareholder holding 1500 shares failed to pay other the calls and there upon all these shares were forfeited by the board of directors.? for Commerce 2024 is part of Commerce preparation. The Question and answers have been prepared according to the Commerce exam syllabus. Information about A Ltd with a nominal capital of rs 10,00,000 in equity shares of rs 10 each has issued 24,000 shares to the public, payable on application rs 2, on allotment rs 3, on 1st call rs 2 and the balance on final call. Applications were received for 24000 shares. All the money due on the shares, on which all the calls were made, were duly received excepting that, a shareholder holding 1500 shares failed to pay other the calls and there upon all these shares were forfeited by the board of directors.? covers all topics & solutions for Commerce 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for A Ltd with a nominal capital of rs 10,00,000 in equity shares of rs 10 each has issued 24,000 shares to the public, payable on application rs 2, on allotment rs 3, on 1st call rs 2 and the balance on final call. Applications were received for 24000 shares. All the money due on the shares, on which all the calls were made, were duly received excepting that, a shareholder holding 1500 shares failed to pay other the calls and there upon all these shares were forfeited by the board of directors.?.
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