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Star Ltd. issued 1,00,000 shares of Rs. 10 each at a premium of Rs. 2 per share, payable as follows : On application Rs. 2.50 per share On allotment Rs. 4.50 (Including premium) On First Call Rs. 2.50 On Final Call Rs. 2.50 1,50,000 Applications were received. Application for 1,20,000 shares were allotted on prorata basis and the host were rejected. The surplus money received was adjusted towards the money due to allotment.?
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Star Ltd. issued 1,00,000 shares of Rs. 10 each at a premium of Rs. 2 ...
Title: Issuance of Shares by Star Ltd.

Introduction:
Star Ltd. issued 1,00,000 shares of Rs. 10 each at a premium of Rs. 2 per share. The payment was to be made in installments.

Payment Schedule:
- On application: Rs. 2.50 per share
- On allotment: Rs. 4.50 (Including premium)
- On First Call: Rs. 2.50
- On Final Call: Rs. 2.50

Applications received:
- Total applications received: 1,50,000
- Shares allotted: 1,20,000 (on a prorata basis)
- Shares rejected: 30,000

Surplus money received:
- The total amount received from the applications was Rs. 3,75,000 (1,50,000 x Rs. 2.50)
- The amount due on allotment was Rs. 5,40,000 (1,20,000 x Rs. 4.50)
- The surplus amount was Rs. 1,65,000 (Rs. 5,40,000 - Rs. 3,75,000)

Adjustment of surplus money:
- The surplus money was adjusted towards the amount due on allotment.
- The allotment money was reduced by Rs. 1.375 per share (Rs. 1,65,000 / 1,20,000)
- The revised amount due on allotment was Rs. 3.125 per share (Rs. 4.50 - Rs. 1.375)

Conclusion:
Star Ltd. issued shares at a premium and received surplus money from the applications. The surplus money was adjusted towards the amount due on allotment. The revised amount due on allotment was communicated to the shareholders.
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Star Ltd. issued 1,00,000 shares of Rs. 10 each at a premium of Rs. 2 ...
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Star Ltd. issued 1,00,000 shares of Rs. 10 each at a premium of Rs. 2 per share, payable as follows : On application Rs. 2.50 per share On allotment Rs. 4.50 (Including premium) On First Call Rs. 2.50 On Final Call Rs. 2.50 1,50,000 Applications were received. Application for 1,20,000 shares were allotted on prorata basis and the host were rejected. The surplus money received was adjusted towards the money due to allotment.?
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Star Ltd. issued 1,00,000 shares of Rs. 10 each at a premium of Rs. 2 per share, payable as follows : On application Rs. 2.50 per share On allotment Rs. 4.50 (Including premium) On First Call Rs. 2.50 On Final Call Rs. 2.50 1,50,000 Applications were received. Application for 1,20,000 shares were allotted on prorata basis and the host were rejected. The surplus money received was adjusted towards the money due to allotment.? for B Com 2024 is part of B Com preparation. The Question and answers have been prepared according to the B Com exam syllabus. Information about Star Ltd. issued 1,00,000 shares of Rs. 10 each at a premium of Rs. 2 per share, payable as follows : On application Rs. 2.50 per share On allotment Rs. 4.50 (Including premium) On First Call Rs. 2.50 On Final Call Rs. 2.50 1,50,000 Applications were received. Application for 1,20,000 shares were allotted on prorata basis and the host were rejected. The surplus money received was adjusted towards the money due to allotment.? covers all topics & solutions for B Com 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Star Ltd. issued 1,00,000 shares of Rs. 10 each at a premium of Rs. 2 per share, payable as follows : On application Rs. 2.50 per share On allotment Rs. 4.50 (Including premium) On First Call Rs. 2.50 On Final Call Rs. 2.50 1,50,000 Applications were received. Application for 1,20,000 shares were allotted on prorata basis and the host were rejected. The surplus money received was adjusted towards the money due to allotment.?.
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