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Based on below information you are required to answer the following questions:
The directors of Bhagat and Company Ltd. issued 50,000 equity shares of ₹10 each at ₹ 12 per share, payable as ₹ 5 on application including the premium, ₹ 4 on allotment and the balance on final call. Applications were received for 70,000 shares out of which applications for 8,000 shares were rejected and their money was refunded. Money overpaid on application was applied towards sums due on allotment. All the money were duly received except from one shareholder holding 500 shares who failed to pay the final call money.
What is the amount to be received on the Allotment of share?
- a)₹2,00,000
- b)₹1,40,000
- c)₹1,50,000
- d)₹1,00,000
Correct answer is option 'B'. Can you explain this answer?
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Based on below information you are required to answer the following q...
As ₹60,000 out of ₹2,00,000 is already received so only ₹1,40,000 is to be received.
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Based on below information you are required to answer the following q...
Calculation of Amount to be received on Allotment of Shares:
To calculate the amount to be received on allotment of shares, we need to consider the following information provided:
- Total number of shares issued = 50,000
- Par value of each share = ₹10
- Issue price per share = ₹12
- Amount payable on application including premium = ₹5
- Amount payable on allotment = ₹4
- Amount payable on final call = Balance
Step 1: Calculation of Total Amount Received on Application:
Total number of shares applied for = 70,000
Number of shares rejected = 8,000
Number of shares accepted = 70,000 - 8,000 = 62,000
Amount received on application = Number of shares accepted × Amount payable on application including premium
= 62,000 × ₹5
= ₹3,10,000
Step 2: Calculation of Amount Adjusted on Allotment:
Amount overpaid on application = Amount received on application - Total application money due
= ₹3,10,000 - (Number of shares accepted × Amount payable on application including premium)
= ₹3,10,000 - (62,000 × ₹5)
= ₹3,10,000 - ₹3,10,000
= ₹0
As per the given information, the money overpaid on application was applied towards sums due on allotment. Therefore, the amount adjusted on allotment is ₹0.
Step 3: Calculation of Amount to be received on Allotment:
Amount payable on allotment = ₹4
Total amount to be received on allotment = (Number of shares accepted × Amount payable on allotment) - Amount adjusted on allotment
= (62,000 × ₹4) - ₹0
= ₹2,48,000
Hence, the amount to be received on allotment of shares is ₹2,48,000, which corresponds to option 'B'.
To calculate the amount to be received on allotment of shares, we need to consider the following information provided:
- Total number of shares issued = 50,000
- Par value of each share = ₹10
- Issue price per share = ₹12
- Amount payable on application including premium = ₹5
- Amount payable on allotment = ₹4
- Amount payable on final call = Balance
Step 1: Calculation of Total Amount Received on Application:
Total number of shares applied for = 70,000
Number of shares rejected = 8,000
Number of shares accepted = 70,000 - 8,000 = 62,000
Amount received on application = Number of shares accepted × Amount payable on application including premium
= 62,000 × ₹5
= ₹3,10,000
Step 2: Calculation of Amount Adjusted on Allotment:
Amount overpaid on application = Amount received on application - Total application money due
= ₹3,10,000 - (Number of shares accepted × Amount payable on application including premium)
= ₹3,10,000 - (62,000 × ₹5)
= ₹3,10,000 - ₹3,10,000
= ₹0
As per the given information, the money overpaid on application was applied towards sums due on allotment. Therefore, the amount adjusted on allotment is ₹0.
Step 3: Calculation of Amount to be received on Allotment:
Amount payable on allotment = ₹4
Total amount to be received on allotment = (Number of shares accepted × Amount payable on allotment) - Amount adjusted on allotment
= (62,000 × ₹4) - ₹0
= ₹2,48,000
Hence, the amount to be received on allotment of shares is ₹2,48,000, which corresponds to option 'B'.
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Based on below information you are required to answer the following questions:The directors of Bhagat and Company Ltd. issued 50,000 equity shares of ₹10 each at ₹ 12 per share, payable as ₹ 5 on application including the premium, ₹ 4 on allotment and the balance on final call. Applications were received for 70,000 shares out of which applications for 8,000 shares were rejected and their money was refunded. Money overpaid on application was applied towards sums due on allotment. All the money were duly received except from one shareholder holding 500 shares who failed to pay the final call money.What is the amount to be received on the Allotment of share?a)₹2,00,000b)₹1,40,000c)₹1,50,000d)₹1,00,000Correct answer is option 'B'. Can you explain this answer?
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Based on below information you are required to answer the following questions:The directors of Bhagat and Company Ltd. issued 50,000 equity shares of ₹10 each at ₹ 12 per share, payable as ₹ 5 on application including the premium, ₹ 4 on allotment and the balance on final call. Applications were received for 70,000 shares out of which applications for 8,000 shares were rejected and their money was refunded. Money overpaid on application was applied towards sums due on allotment. All the money were duly received except from one shareholder holding 500 shares who failed to pay the final call money.What is the amount to be received on the Allotment of share?a)₹2,00,000b)₹1,40,000c)₹1,50,000d)₹1,00,000Correct answer is option 'B'. Can you explain this answer? for Commerce 2024 is part of Commerce preparation. The Question and answers have been prepared according to the Commerce exam syllabus. Information about Based on below information you are required to answer the following questions:The directors of Bhagat and Company Ltd. issued 50,000 equity shares of ₹10 each at ₹ 12 per share, payable as ₹ 5 on application including the premium, ₹ 4 on allotment and the balance on final call. Applications were received for 70,000 shares out of which applications for 8,000 shares were rejected and their money was refunded. Money overpaid on application was applied towards sums due on allotment. All the money were duly received except from one shareholder holding 500 shares who failed to pay the final call money.What is the amount to be received on the Allotment of share?a)₹2,00,000b)₹1,40,000c)₹1,50,000d)₹1,00,000Correct answer is option 'B'. Can you explain this answer? covers all topics & solutions for Commerce 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Based on below information you are required to answer the following questions:The directors of Bhagat and Company Ltd. issued 50,000 equity shares of ₹10 each at ₹ 12 per share, payable as ₹ 5 on application including the premium, ₹ 4 on allotment and the balance on final call. Applications were received for 70,000 shares out of which applications for 8,000 shares were rejected and their money was refunded. Money overpaid on application was applied towards sums due on allotment. All the money were duly received except from one shareholder holding 500 shares who failed to pay the final call money.What is the amount to be received on the Allotment of share?a)₹2,00,000b)₹1,40,000c)₹1,50,000d)₹1,00,000Correct answer is option 'B'. Can you explain this answer?.
Based on below information you are required to answer the following questions:The directors of Bhagat and Company Ltd. issued 50,000 equity shares of ₹10 each at ₹ 12 per share, payable as ₹ 5 on application including the premium, ₹ 4 on allotment and the balance on final call. Applications were received for 70,000 shares out of which applications for 8,000 shares were rejected and their money was refunded. Money overpaid on application was applied towards sums due on allotment. All the money were duly received except from one shareholder holding 500 shares who failed to pay the final call money.What is the amount to be received on the Allotment of share?a)₹2,00,000b)₹1,40,000c)₹1,50,000d)₹1,00,000Correct answer is option 'B'. Can you explain this answer? for Commerce 2024 is part of Commerce preparation. The Question and answers have been prepared according to the Commerce exam syllabus. Information about Based on below information you are required to answer the following questions:The directors of Bhagat and Company Ltd. issued 50,000 equity shares of ₹10 each at ₹ 12 per share, payable as ₹ 5 on application including the premium, ₹ 4 on allotment and the balance on final call. Applications were received for 70,000 shares out of which applications for 8,000 shares were rejected and their money was refunded. Money overpaid on application was applied towards sums due on allotment. All the money were duly received except from one shareholder holding 500 shares who failed to pay the final call money.What is the amount to be received on the Allotment of share?a)₹2,00,000b)₹1,40,000c)₹1,50,000d)₹1,00,000Correct answer is option 'B'. Can you explain this answer? covers all topics & solutions for Commerce 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Based on below information you are required to answer the following questions:The directors of Bhagat and Company Ltd. issued 50,000 equity shares of ₹10 each at ₹ 12 per share, payable as ₹ 5 on application including the premium, ₹ 4 on allotment and the balance on final call. Applications were received for 70,000 shares out of which applications for 8,000 shares were rejected and their money was refunded. Money overpaid on application was applied towards sums due on allotment. All the money were duly received except from one shareholder holding 500 shares who failed to pay the final call money.What is the amount to be received on the Allotment of share?a)₹2,00,000b)₹1,40,000c)₹1,50,000d)₹1,00,000Correct answer is option 'B'. Can you explain this answer?.
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