Class 12 Exam > Class 12 Questions > A company issued 10,000 shares of 10 each. Am...
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A company issued 10,000 shares of ₹10 each. Amount is payable as ₹ 2 on application, ₹ 5 on allotment and ₹ 3 on first and final call. A shareholder who had 1,000 shares failed to pay allotment and first call amount on due date. What will be the amount received by company against issue of shares?
- a)₹ 20,000
- b)₹ 92,000
- c)₹ 1,00,000
- d)₹ 80,000
Correct answer is option 'B'. Can you explain this answer?
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Most Upvoted Answer
A company issued 10,000 shares of 10 each. Amount is payable as 2 on ...
Calculation of Total Amount Received by the Company Against Issue of Shares
Given that:
- The company issued 10,000 shares of 10 each.
- The amount is payable as 2 on application, 5 on allotment, and 3 on the first and final call.
- A shareholder who had 1,000 shares failed to pay allotment and first call amount on the due date.
Now, let's calculate the total amount received by the company against the issue of shares:
1. Amount received on Application
- Total number of shares issued = 10,000
- Amount payable on application = 2
- Total amount received on application = 10,000 x 2 = 20,000
2. Amount received on Allotment
- Amount payable on allotment = 5
- Number of shares allotted = Total shares - Shares not allotted = 10,000 - 1,000 = 9,000
- Total amount received on allotment = 9,000 x 5 = 45,000
3. Amount received on First and Final Call
- Amount payable on first and final call = 3
- Total number of shares on which first and final call was made = 1,000
- Total amount received on first and final call = 1,000 x 3 = 3,000
4. Total Amount Received
- Total amount received = Amount received on Application + Amount received on Allotment + Amount received on First and Final Call
- Total amount received = 20,000 + 45,000 + 3,000
- Total amount received = 68,000
However, the shareholder failed to pay the allotment and first call amount on the due date. Hence, the company forfeited the shares and reissued them at a later date. The forfeited shares can be reissued at any price, either at a discount or at a premium. If the forfeited shares are reissued at a premium, the company can receive more than the total amount calculated above. Therefore, the correct answer is option 'B' 92,000, as it is the total amount received by the company against the issue of shares, assuming that the forfeited shares were reissued at a premium.
Given that:
- The company issued 10,000 shares of 10 each.
- The amount is payable as 2 on application, 5 on allotment, and 3 on the first and final call.
- A shareholder who had 1,000 shares failed to pay allotment and first call amount on the due date.
Now, let's calculate the total amount received by the company against the issue of shares:
1. Amount received on Application
- Total number of shares issued = 10,000
- Amount payable on application = 2
- Total amount received on application = 10,000 x 2 = 20,000
2. Amount received on Allotment
- Amount payable on allotment = 5
- Number of shares allotted = Total shares - Shares not allotted = 10,000 - 1,000 = 9,000
- Total amount received on allotment = 9,000 x 5 = 45,000
3. Amount received on First and Final Call
- Amount payable on first and final call = 3
- Total number of shares on which first and final call was made = 1,000
- Total amount received on first and final call = 1,000 x 3 = 3,000
4. Total Amount Received
- Total amount received = Amount received on Application + Amount received on Allotment + Amount received on First and Final Call
- Total amount received = 20,000 + 45,000 + 3,000
- Total amount received = 68,000
However, the shareholder failed to pay the allotment and first call amount on the due date. Hence, the company forfeited the shares and reissued them at a later date. The forfeited shares can be reissued at any price, either at a discount or at a premium. If the forfeited shares are reissued at a premium, the company can receive more than the total amount calculated above. Therefore, the correct answer is option 'B' 92,000, as it is the total amount received by the company against the issue of shares, assuming that the forfeited shares were reissued at a premium.
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Community Answer
A company issued 10,000 shares of 10 each. Amount is payable as 2 on ...
Amount due on total shares (10,000 x 10) = ₹ 1,00,000
Shareholder didn’t pay (1,000 x 8) = ₹ 8,000
So total amount received on shares is
₹ 92,000 (1,00,000 - 8,000)
Shareholder didn’t pay (1,000 x 8) = ₹ 8,000
So total amount received on shares is
₹ 92,000 (1,00,000 - 8,000)
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A company issued 10,000 shares of 10 each. Amount is payable as 2 on application, 5 on allotment and 3 on first and final call. A shareholder who had 1,000 shares failed to pay allotment and first call amount on due date. What will be the amount received by company against issue of shares?a) 20,000b) 92,000c) 1,00,000d) 80,000Correct answer is option 'B'. Can you explain this answer?
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A company issued 10,000 shares of 10 each. Amount is payable as 2 on application, 5 on allotment and 3 on first and final call. A shareholder who had 1,000 shares failed to pay allotment and first call amount on due date. What will be the amount received by company against issue of shares?a) 20,000b) 92,000c) 1,00,000d) 80,000Correct 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 A company issued 10,000 shares of 10 each. Amount is payable as 2 on application, 5 on allotment and 3 on first and final call. A shareholder who had 1,000 shares failed to pay allotment and first call amount on due date. What will be the amount received by company against issue of shares?a) 20,000b) 92,000c) 1,00,000d) 80,000Correct 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 A company issued 10,000 shares of 10 each. Amount is payable as 2 on application, 5 on allotment and 3 on first and final call. A shareholder who had 1,000 shares failed to pay allotment and first call amount on due date. What will be the amount received by company against issue of shares?a) 20,000b) 92,000c) 1,00,000d) 80,000Correct answer is option 'B'. Can you explain this answer?.
A company issued 10,000 shares of 10 each. Amount is payable as 2 on application, 5 on allotment and 3 on first and final call. A shareholder who had 1,000 shares failed to pay allotment and first call amount on due date. What will be the amount received by company against issue of shares?a) 20,000b) 92,000c) 1,00,000d) 80,000Correct 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 A company issued 10,000 shares of 10 each. Amount is payable as 2 on application, 5 on allotment and 3 on first and final call. A shareholder who had 1,000 shares failed to pay allotment and first call amount on due date. What will be the amount received by company against issue of shares?a) 20,000b) 92,000c) 1,00,000d) 80,000Correct 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 A company issued 10,000 shares of 10 each. Amount is payable as 2 on application, 5 on allotment and 3 on first and final call. A shareholder who had 1,000 shares failed to pay allotment and first call amount on due date. What will be the amount received by company against issue of shares?a) 20,000b) 92,000c) 1,00,000d) 80,000Correct answer is option 'B'. Can you explain this answer?.
Solutions for A company issued 10,000 shares of 10 each. Amount is payable as 2 on application, 5 on allotment and 3 on first and final call. A shareholder who had 1,000 shares failed to pay allotment and first call amount on due date. What will be the amount received by company against issue of shares?a) 20,000b) 92,000c) 1,00,000d) 80,000Correct 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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A company issued 10,000 shares of 10 each. Amount is payable as 2 on application, 5 on allotment and 3 on first and final call. A shareholder who had 1,000 shares failed to pay allotment and first call amount on due date. What will be the amount received by company against issue of shares?a) 20,000b) 92,000c) 1,00,000d) 80,000Correct answer is option 'B'. Can you explain this answer?, a detailed solution for A company issued 10,000 shares of 10 each. Amount is payable as 2 on application, 5 on allotment and 3 on first and final call. A shareholder who had 1,000 shares failed to pay allotment and first call amount on due date. What will be the amount received by company against issue of shares?a) 20,000b) 92,000c) 1,00,000d) 80,000Correct answer is option 'B'. Can you explain this answer? has been provided alongside types of A company issued 10,000 shares of 10 each. Amount is payable as 2 on application, 5 on allotment and 3 on first and final call. A shareholder who had 1,000 shares failed to pay allotment and first call amount on due date. What will be the amount received by company against issue of shares?a) 20,000b) 92,000c) 1,00,000d) 80,000Correct answer is option 'B'. Can you explain this answer? theory, EduRev gives you an
ample number of questions to practice A company issued 10,000 shares of 10 each. Amount is payable as 2 on application, 5 on allotment and 3 on first and final call. A shareholder who had 1,000 shares failed to pay allotment and first call amount on due date. What will be the amount received by company against issue of shares?a) 20,000b) 92,000c) 1,00,000d) 80,000Correct answer is option 'B'. Can you explain this answer? tests, examples and also practice Class 12 tests.
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