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A Y Ltd invited applications for issuing 10,000 equity shares of Rs 100 each at a discount of 6% The amount was payable as follows: On Application Rs 20 per share. On Allotment Rs 44 per share. On first & Final Call- Balance Application for 13000 shares were received. Applications for 500 shares were rejected and pro rata allotment was made to the remaining applications?
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A Y Ltd invited applications for issuing 10,000 equity shares of Rs 10...
And final call, the remaining amount.

Solution:

The face value of each share is Rs 100 and a discount of 6% is given. Therefore, the issue price per share will be:

Face Value of Share = Rs 100
Discount = 6%
Discount on Face Value = (6/100) x 100 = Rs 6
Issue Price = Face Value - Discount = Rs 100 - Rs 6 = Rs 94

The amount payable on each share will be as follows:

On Application = Rs 20 per share
On Allotment = Rs 44 per share
On First and Final Call = Rs 30 per share (Rs 94 - Rs 20 - Rs 44)

The total amount payable on each share will be Rs 94. Therefore, the amount payable on application and allotment will be adjusted against the issue price, and the remaining amount will be payable on the first and final call.

Subscription Calculation:
The number of shares applied for = 10,000
Total amount to be raised = Rs 10,00,000 (10,000 shares x Rs 100 face value)

On Application:
Amount payable on application = Rs 20 per share
Total amount received on application = 10,000 x Rs 20 = Rs 2,00,000

On Allotment:
Amount payable on allotment = Rs 44 per share
Total amount received on allotment = 10,000 x Rs 44 = Rs 4,40,000
Adjustment for discount = 10,000 x Rs 6 = Rs 60,000
Total amount received on allotment after adjustment = Rs 3,80,000

On First and Final Call:
Amount payable on first and final call = Rs 30 per share
Total amount to be received on first and final call = 10,000 x Rs 30 = Rs 3,00,000

Therefore, the total amount received from shareholders will be Rs 2,00,000 + Rs 3,80,000 + Rs 3,00,000 = Rs 8,80,000.

The remaining amount of Rs 1,20,000 (Rs 10,00,000 - Rs 8,80,000) will be recovered from the shareholders who have not paid the first and final call amount.
Community Answer
A Y Ltd invited applications for issuing 10,000 equity shares of Rs 10...
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A Y Ltd invited applications for issuing 10,000 equity shares of Rs 100 each at a discount of 6% The amount was payable as follows: On Application Rs 20 per share. On Allotment Rs 44 per share. On first & Final Call- Balance Application for 13000 shares were received. Applications for 500 shares were rejected and pro rata allotment was made to the remaining applications?
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A Y Ltd invited applications for issuing 10,000 equity shares of Rs 100 each at a discount of 6% The amount was payable as follows: On Application Rs 20 per share. On Allotment Rs 44 per share. On first & Final Call- Balance Application for 13000 shares were received. Applications for 500 shares were rejected and pro rata allotment was made to the remaining applications? 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 A Y Ltd invited applications for issuing 10,000 equity shares of Rs 100 each at a discount of 6% The amount was payable as follows: On Application Rs 20 per share. On Allotment Rs 44 per share. On first & Final Call- Balance Application for 13000 shares were received. Applications for 500 shares were rejected and pro rata allotment was made to the remaining applications? covers all topics & solutions for CA Foundation 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for A Y Ltd invited applications for issuing 10,000 equity shares of Rs 100 each at a discount of 6% The amount was payable as follows: On Application Rs 20 per share. On Allotment Rs 44 per share. On first & Final Call- Balance Application for 13000 shares were received. Applications for 500 shares were rejected and pro rata allotment was made to the remaining applications?.
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