Class 12 Exam > Class 12 Questions > Ambrish Ltd offered 2,00,000 equity shares of...
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Ambrish Ltd offered 2,00,000 equity shares of ₹10 each, of these 1,98,000 shares were subscribed. The amount was payable as ₹3 on application, ₹4 an allotment and balance on first call. If a shareholder holding 3,000 shares has defaulted on first call, what is the amount of money received on first call?
- a)₹9,000.
- b)₹5,85,000.
- c)₹5,91,000.
- d)₹6,09,000.
Correct answer is option 'B'. Can you explain this answer?
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Verified Answer
Ambrish Ltd offered 2,00,000 equity shares of 10 each, of these 1,98,0...
Number of shares subscribed by public = 1,98,000
Amount payable on first call = ₹10 – (₹3 + ₹4) = ₹ 3
Amount to be received on first call = 1,98,000 × ₹3 = ₹ 5,94,000
Calls in arrear = 3,000 × ₹3 = ₹ 9,000
Amount received on first call = 5,94,000 – ₹9,000 = ₹5,85,000
Amount payable on first call = ₹10 – (₹3 + ₹4) = ₹ 3
Amount to be received on first call = 1,98,000 × ₹3 = ₹ 5,94,000
Calls in arrear = 3,000 × ₹3 = ₹ 9,000
Amount received on first call = 5,94,000 – ₹9,000 = ₹5,85,000
Most Upvoted Answer
Ambrish Ltd offered 2,00,000 equity shares of 10 each, of these 1,98,0...
Given:
- Ambrish Ltd offered 2,00,000 equity shares of 10 each
- 1,98,000 shares were subscribed
- Amount payable: 3 on application, 4 on allotment, balance on first call
- A shareholder holding 3,000 shares has defaulted on first call
To find:
- Amount of money received on first call
Solution:
- Total number of shares offered = 2,00,000
- Number of shares subscribed = 1,98,000
- Number of shares not subscribed = 2,000
- Total amount to be collected = (1,98,000 x 3) + (1,98,000 x 4) + (2,000 x 10) = 5,91,000
Calculation of first call:
- Amount to be collected on first call = Total amount - (Amount collected on application + Amount collected on allotment)
- Amount collected on application = 1,98,000 x 3 = 5,94,000
- Amount collected on allotment = 1,98,000 x 4 = 7,92,000
- Total amount collected on application and allotment = 5,94,000 + 7,92,000 = 13,86,000
- Amount to be collected on first call = 5,91,000 - 13,86,000 = -7,95,000 (Negative sign indicates that more money needs to be collected)
Since one shareholder holding 3,000 shares has defaulted on first call, the amount that needs to be collected will increase by 3,000 x 10 = 30,000.
Therefore, the amount of money received on first call will be:
- Amount collected on application + Amount collected on allotment - Increase due to default = 13,86,000 - 30,000 = 5,85,000
Hence, option B is the correct answer.
- Ambrish Ltd offered 2,00,000 equity shares of 10 each
- 1,98,000 shares were subscribed
- Amount payable: 3 on application, 4 on allotment, balance on first call
- A shareholder holding 3,000 shares has defaulted on first call
To find:
- Amount of money received on first call
Solution:
- Total number of shares offered = 2,00,000
- Number of shares subscribed = 1,98,000
- Number of shares not subscribed = 2,000
- Total amount to be collected = (1,98,000 x 3) + (1,98,000 x 4) + (2,000 x 10) = 5,91,000
Calculation of first call:
- Amount to be collected on first call = Total amount - (Amount collected on application + Amount collected on allotment)
- Amount collected on application = 1,98,000 x 3 = 5,94,000
- Amount collected on allotment = 1,98,000 x 4 = 7,92,000
- Total amount collected on application and allotment = 5,94,000 + 7,92,000 = 13,86,000
- Amount to be collected on first call = 5,91,000 - 13,86,000 = -7,95,000 (Negative sign indicates that more money needs to be collected)
Since one shareholder holding 3,000 shares has defaulted on first call, the amount that needs to be collected will increase by 3,000 x 10 = 30,000.
Therefore, the amount of money received on first call will be:
- Amount collected on application + Amount collected on allotment - Increase due to default = 13,86,000 - 30,000 = 5,85,000
Hence, option B is the correct answer.
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Ambrish Ltd offered 2,00,000 equity shares of 10 each, of these 1,98,000 shares were subscribed. The amount was payable as 3 on application, 4 an allotment and balance on first call. If a shareholder holding 3,000 shares has defaulted on first call, what is the amount of money received on first call?a)9,000.b)5,85,000.c)5,91,000.d)6,09,000.Correct answer is option 'B'. Can you explain this answer?
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Ambrish Ltd offered 2,00,000 equity shares of 10 each, of these 1,98,000 shares were subscribed. The amount was payable as 3 on application, 4 an allotment and balance on first call. If a shareholder holding 3,000 shares has defaulted on first call, what is the amount of money received on first call?a)9,000.b)5,85,000.c)5,91,000.d)6,09,000.Correct answer is option 'B'. Can you explain this answer? for Class 12 2024 is part of Class 12 preparation. The Question and answers have been prepared according to the Class 12 exam syllabus. Information about Ambrish Ltd offered 2,00,000 equity shares of 10 each, of these 1,98,000 shares were subscribed. The amount was payable as 3 on application, 4 an allotment and balance on first call. If a shareholder holding 3,000 shares has defaulted on first call, what is the amount of money received on first call?a)9,000.b)5,85,000.c)5,91,000.d)6,09,000.Correct answer is option 'B'. Can you explain this answer? covers all topics & solutions for Class 12 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Ambrish Ltd offered 2,00,000 equity shares of 10 each, of these 1,98,000 shares were subscribed. The amount was payable as 3 on application, 4 an allotment and balance on first call. If a shareholder holding 3,000 shares has defaulted on first call, what is the amount of money received on first call?a)9,000.b)5,85,000.c)5,91,000.d)6,09,000.Correct answer is option 'B'. Can you explain this answer?.
Ambrish Ltd offered 2,00,000 equity shares of 10 each, of these 1,98,000 shares were subscribed. The amount was payable as 3 on application, 4 an allotment and balance on first call. If a shareholder holding 3,000 shares has defaulted on first call, what is the amount of money received on first call?a)9,000.b)5,85,000.c)5,91,000.d)6,09,000.Correct answer is option 'B'. Can you explain this answer? for Class 12 2024 is part of Class 12 preparation. The Question and answers have been prepared according to the Class 12 exam syllabus. Information about Ambrish Ltd offered 2,00,000 equity shares of 10 each, of these 1,98,000 shares were subscribed. The amount was payable as 3 on application, 4 an allotment and balance on first call. If a shareholder holding 3,000 shares has defaulted on first call, what is the amount of money received on first call?a)9,000.b)5,85,000.c)5,91,000.d)6,09,000.Correct answer is option 'B'. Can you explain this answer? covers all topics & solutions for Class 12 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Ambrish Ltd offered 2,00,000 equity shares of 10 each, of these 1,98,000 shares were subscribed. The amount was payable as 3 on application, 4 an allotment and balance on first call. If a shareholder holding 3,000 shares has defaulted on first call, what is the amount of money received on first call?a)9,000.b)5,85,000.c)5,91,000.d)6,09,000.Correct answer is option 'B'. Can you explain this answer?.
Solutions for Ambrish Ltd offered 2,00,000 equity shares of 10 each, of these 1,98,000 shares were subscribed. The amount was payable as 3 on application, 4 an allotment and balance on first call. If a shareholder holding 3,000 shares has defaulted on first call, what is the amount of money received on first call?a)9,000.b)5,85,000.c)5,91,000.d)6,09,000.Correct answer is option 'B'. Can you explain this answer? in English & in Hindi are available as part of our courses for Class 12.
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Ambrish Ltd offered 2,00,000 equity shares of 10 each, of these 1,98,000 shares were subscribed. The amount was payable as 3 on application, 4 an allotment and balance on first call. If a shareholder holding 3,000 shares has defaulted on first call, what is the amount of money received on first call?a)9,000.b)5,85,000.c)5,91,000.d)6,09,000.Correct answer is option 'B'. Can you explain this answer?, a detailed solution for Ambrish Ltd offered 2,00,000 equity shares of 10 each, of these 1,98,000 shares were subscribed. The amount was payable as 3 on application, 4 an allotment and balance on first call. If a shareholder holding 3,000 shares has defaulted on first call, what is the amount of money received on first call?a)9,000.b)5,85,000.c)5,91,000.d)6,09,000.Correct answer is option 'B'. Can you explain this answer? has been provided alongside types of Ambrish Ltd offered 2,00,000 equity shares of 10 each, of these 1,98,000 shares were subscribed. The amount was payable as 3 on application, 4 an allotment and balance on first call. If a shareholder holding 3,000 shares has defaulted on first call, what is the amount of money received on first call?a)9,000.b)5,85,000.c)5,91,000.d)6,09,000.Correct answer is option 'B'. Can you explain this answer? theory, EduRev gives you an
ample number of questions to practice Ambrish Ltd offered 2,00,000 equity shares of 10 each, of these 1,98,000 shares were subscribed. The amount was payable as 3 on application, 4 an allotment and balance on first call. If a shareholder holding 3,000 shares has defaulted on first call, what is the amount of money received on first call?a)9,000.b)5,85,000.c)5,91,000.d)6,09,000.Correct answer is option 'B'. Can you explain this answer? tests, examples and also practice Class 12 tests.
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