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Amritsar Fan Company issued 25,000 shares of * 10 each at 20% premium. Applications for 20,000 shares were received Amount was payable as follows: On application On allotment (Premium 2 On first & final call 3 On 2.000 shares final call was not received.?
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Amritsar Fan Company issued 25,000 shares of * 10 each at 20% premium....
Call On second call Rs. 4 per share Rs. 7 per share Rs. 4 per share Rs. 5 per share
Calculate the amount received by the company on allotment.
Total amount of shares issued = 25,000
Face value of each share = Rs. 10
Total face value of shares issued = 25,000 * 10 = Rs. 2,50,000
Premium on each share = 20% of face value = 20% * 10 = Rs. 2
Total premium on shares issued = 25,000 * 2 = Rs. 50,000
Total amount payable on application = 20,000 * (10 + 2) = Rs. 2,40,000
Amount received on application = 20,000 * 4 = Rs. 80,000
Amount due on allotment = Total amount payable on application - Amount received on application
= Rs. 2,40,000 - Rs. 80,000
= Rs. 1,60,000
Amount received on allotment = 20,000 * (10 + 2 + 7) = Rs. 3,80,000
Therefore, the amount received by the company on allotment is Rs. 3,80,000.
Calculate the amount received by the company on allotment.
Total amount of shares issued = 25,000
Face value of each share = Rs. 10
Total face value of shares issued = 25,000 * 10 = Rs. 2,50,000
Premium on each share = 20% of face value = 20% * 10 = Rs. 2
Total premium on shares issued = 25,000 * 2 = Rs. 50,000
Total amount payable on application = 20,000 * (10 + 2) = Rs. 2,40,000
Amount received on application = 20,000 * 4 = Rs. 80,000
Amount due on allotment = Total amount payable on application - Amount received on application
= Rs. 2,40,000 - Rs. 80,000
= Rs. 1,60,000
Amount received on allotment = 20,000 * (10 + 2 + 7) = Rs. 3,80,000
Therefore, the amount received by the company on allotment is Rs. 3,80,000.
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Amritsar Fan Company issued 25,000 shares of * 10 each at 20% premium. Applications for 20,000 shares were received Amount was payable as follows: On application On allotment (Premium 2 On first & final call 3 On 2.000 shares final call was not received.?
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Amritsar Fan Company issued 25,000 shares of * 10 each at 20% premium. Applications for 20,000 shares were received Amount was payable as follows: On application On allotment (Premium 2 On first & final call 3 On 2.000 shares final call was not received.? for Commerce 2024 is part of Commerce preparation. The Question and answers have been prepared according to the Commerce exam syllabus. Information about Amritsar Fan Company issued 25,000 shares of * 10 each at 20% premium. Applications for 20,000 shares were received Amount was payable as follows: On application On allotment (Premium 2 On first & final call 3 On 2.000 shares final call was not received.? covers all topics & solutions for Commerce 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Amritsar Fan Company issued 25,000 shares of * 10 each at 20% premium. Applications for 20,000 shares were received Amount was payable as follows: On application On allotment (Premium 2 On first & final call 3 On 2.000 shares final call was not received.?.
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