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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 received on application of shares?
How much money is still not paid up on the allotted shares?
- a)₹1,500
- b)₹2,000
- c)₹3,000
- d)₹500
Correct answer is option 'A'. Can you explain this answer?
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Based on below information you are required to answer the following q...
The first and final call amount (₹3) is not received on 500 shares. 500 × ₹3 = ₹1,500
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Based on below information you are required to answer the following q...
Amount received on application of shares:
- The company issued 50,000 equity shares at a price of ₹12 per share, with ₹5 to be paid on application.
- Applications were received for 70,000 shares, but 8,000 shares were rejected and the money was refunded.
- Therefore, the number of shares allotted is 50,000 - 8,000 = 42,000 shares.
- The amount received on application for these 42,000 shares is ₹5 per share.
- So, the total amount received on application of shares is 42,000 shares * ₹5 per share = ₹2,10,000.
Money not paid up on allotted shares:
- The amount to be paid on allotment is ₹4 per share.
- The money overpaid on application was applied towards sums due on allotment.
- So, the excess amount received on application, which is ₹2 per share (₹5 - ₹3), will be adjusted against the amount due on allotment.
- Therefore, the amount to be paid on allotment after adjusting the excess amount is ₹4 - ₹2 = ₹2 per share.
- The number of allotted shares is 42,000 shares.
- So, the total amount not paid up on the allotted shares is 42,000 shares * ₹2 per share = ₹84,000.
Final call money not paid:
- The balance amount after allotment is to be paid as the final call.
- The balance amount per share is ₹12 - (₹5 + ₹4) = ₹3 per share.
- All the money except from one shareholder holding 500 shares was duly received.
- Therefore, the final call money not paid by the shareholder holding 500 shares is ₹3 per share * 500 shares = ₹1,500.
Hence, the amount received on application of shares is ₹2,10,000 and the money still not paid up on the allotted shares is ₹84,000. The final call money not paid by one shareholder is ₹1,500. Therefore, the correct answer is option 'A', ₹1,500.
- The company issued 50,000 equity shares at a price of ₹12 per share, with ₹5 to be paid on application.
- Applications were received for 70,000 shares, but 8,000 shares were rejected and the money was refunded.
- Therefore, the number of shares allotted is 50,000 - 8,000 = 42,000 shares.
- The amount received on application for these 42,000 shares is ₹5 per share.
- So, the total amount received on application of shares is 42,000 shares * ₹5 per share = ₹2,10,000.
Money not paid up on allotted shares:
- The amount to be paid on allotment is ₹4 per share.
- The money overpaid on application was applied towards sums due on allotment.
- So, the excess amount received on application, which is ₹2 per share (₹5 - ₹3), will be adjusted against the amount due on allotment.
- Therefore, the amount to be paid on allotment after adjusting the excess amount is ₹4 - ₹2 = ₹2 per share.
- The number of allotted shares is 42,000 shares.
- So, the total amount not paid up on the allotted shares is 42,000 shares * ₹2 per share = ₹84,000.
Final call money not paid:
- The balance amount after allotment is to be paid as the final call.
- The balance amount per share is ₹12 - (₹5 + ₹4) = ₹3 per share.
- All the money except from one shareholder holding 500 shares was duly received.
- Therefore, the final call money not paid by the shareholder holding 500 shares is ₹3 per share * 500 shares = ₹1,500.
Hence, the amount received on application of shares is ₹2,10,000 and the money still not paid up on the allotted shares is ₹84,000. The final call money not paid by one shareholder is ₹1,500. Therefore, the correct answer is option 'A', ₹1,500.
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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 received on application of shares?How much money is still not paid up on the allotted shares?a)₹1,500b)₹2,000c)₹3,000d)₹500Correct answer is option 'A'. 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 received on application of shares?How much money is still not paid up on the allotted shares?a)₹1,500b)₹2,000c)₹3,000d)₹500Correct answer is option 'A'. 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 received on application of shares?How much money is still not paid up on the allotted shares?a)₹1,500b)₹2,000c)₹3,000d)₹500Correct answer is option 'A'. 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 received on application of shares?How much money is still not paid up on the allotted shares?a)₹1,500b)₹2,000c)₹3,000d)₹500Correct answer is option 'A'. 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 received on application of shares?How much money is still not paid up on the allotted shares?a)₹1,500b)₹2,000c)₹3,000d)₹500Correct answer is option 'A'. 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 received on application of shares?How much money is still not paid up on the allotted shares?a)₹1,500b)₹2,000c)₹3,000d)₹500Correct answer is option 'A'. 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 received on application of shares?How much money is still not paid up on the allotted shares?a)₹1,500b)₹2,000c)₹3,000d)₹500Correct answer is option 'A'. Can you explain this answer?.
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