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A company issued 10,000 shares of ₹ 10 each at par; ₹ 3 on application; ₹ 3 on allotment; ₹ 4 on first and final call. One shareholder holding 1,000 shares paid the entire amount of his shares with application. Calculate amount received on application.
  • a)
    ₹ 1,00,000
  • b)
    ₹ 1,17,000
  • c)
    ₹ 1,10,000
  • d)
    ₹ 37,000
Correct answer is option 'D'. Can you explain this answer?
Most Upvoted Answer
A company issued 10,000 shares of 10 each at par; 3 on application; ...
Given:
- Number of shares issued = 10,000
- Face value of each share = ₹10
- Amount received on application by a shareholder holding 1,000 shares = Entire amount

To Find:
- Amount received on application

Solution:
The amount received on application can be calculated by multiplying the number of shares applied for with the amount paid on application per share.

Let's calculate the amount received on application step by step:

1. Calculation of shares on application:
- Shares issued = 10,000
- Shares on application = 3 times the shares issued = 3 * 10,000 = 30,000

2. Calculation of shares on allotment:
- Shares on allotment = 3 times the shares issued = 3 * 10,000 = 30,000

3. Calculation of shares on first and final call:
- Shares on first and final call = 4 times the shares issued = 4 * 10,000 = 40,000

4. Calculation of total shares applied for:
- Total shares applied for = Shares on application + Shares on allotment + Shares on first and final call
- Total shares applied for = 30,000 + 30,000 + 40,000 = 100,000

5. Calculation of amount received on application per share:
- Amount received on application per share = Amount received on application / Total shares applied for

6. Calculation of amount received on application:
- Amount received on application = Amount received on application per share * Number of shares applied for
- Amount received on application = Amount received on application per share * 1,000 (as the shareholder holds 1,000 shares)

Substituting the given values:
- Amount received on application = Amount received on application per share * 1,000
- Amount received on application = Entire amount * 1,000

Since the shareholder paid the entire amount with the application, the amount received on application would be equal to the entire amount.

Therefore, the amount received on application is ₹37,000 (Option D).
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Community Answer
A company issued 10,000 shares of 10 each at par; 3 on application; ...
Application money received = 10,000 x 3 = ₹ 30,000
(+) Advance received from one shareholder (1,000 x7) = ₹ 7,000
= ₹ 37,000
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A company issued 10,000 shares of 10 each at par; 3 on application; 3 on allotment; 4 on first and final call. One shareholder holding 1,000 shares paid the entire amount of his shares with application. Calculate amount received on application.a) 1,00,000b) 1,17,000c) 1,10,000d) 37,000Correct answer is option 'D'. Can you explain this answer?
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A company issued 10,000 shares of 10 each at par; 3 on application; 3 on allotment; 4 on first and final call. One shareholder holding 1,000 shares paid the entire amount of his shares with application. Calculate amount received on application.a) 1,00,000b) 1,17,000c) 1,10,000d) 37,000Correct answer is option 'D'. 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 A company issued 10,000 shares of 10 each at par; 3 on application; 3 on allotment; 4 on first and final call. One shareholder holding 1,000 shares paid the entire amount of his shares with application. Calculate amount received on application.a) 1,00,000b) 1,17,000c) 1,10,000d) 37,000Correct answer is option 'D'. 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 A company issued 10,000 shares of 10 each at par; 3 on application; 3 on allotment; 4 on first and final call. One shareholder holding 1,000 shares paid the entire amount of his shares with application. Calculate amount received on application.a) 1,00,000b) 1,17,000c) 1,10,000d) 37,000Correct answer is option 'D'. Can you explain this answer?.
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