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Z Ltd. made pro-rata allotment of ₹20 each in the ratio of 5:4 at par .Mohan failed to pay allotment and call and his shares were forfeited.3/5th of his forfeited shares were reissued for ₹3500 with maximum permissible discount of ₹1300.Mohan was alloted.shares.?
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Z Ltd. made pro-rata allotment of ₹20 each in the ratio of 5:4 at par ...
Z Ltd. Allotment and Forfeiture
Z Ltd. made a pro-rata allotment of ₹20 each in the ratio of 5:4 at par. Mohan failed to pay allotment and call, and his shares were forfeited.
Reissue of Forfeited Shares
3/5th of Mohan's forfeited shares were reissued for ₹3500 with a maximum permissible discount of ₹1300.
Calculation of Forfeited Shares
To calculate the number of shares forfeited from Mohan, we need to determine the total number of shares allotted.
The ratio of allotment was 5:4, which means that for every 5 shares allotted to shareholder A, 4 shares were allotted to shareholder B.
Let's assume that Z Ltd. allotted 500 shares in total.
Shareholder A would receive (5/9) * 500 = 278 shares.
Shareholder B would receive (4/9) * 500 = 222 shares.
Mohan was allotted (4/9) * 500 = 222 shares.
Since Mohan failed to pay allotment and call, his shares were forfeited.
Forfeited shares = 222 shares
Reissue of Forfeited Shares
3/5th of Mohan's forfeited shares were reissued for ₹3500 with a maximum permissible discount of ₹1300.
Maximum permissible discount = ₹1300
Reissue price per share = ₹3500 / (3/5 * 222) = ₹31.53
Maximum discount per share = ₹1300 / (3/5 * 222) = ₹11.71
Therefore, the reissued shares were sold at ₹31.53 per share with a discount of ₹11.71 per share.
Number of shares reissued = (3/5) * 222 = 133.2 shares
Since shares cannot be issued in fractions, Z Ltd. would have reissued 133 shares.
Mohan's Allotment
Mohan was allotted 222 shares initially, and 3/5th of his forfeited shares were reissued, which means that he would have received (3/5) * 222 = 133 shares.
Therefore, Mohan was allotted 133 shares after the forfeiture and reissue.
Z Ltd. made a pro-rata allotment of ₹20 each in the ratio of 5:4 at par. Mohan failed to pay allotment and call, and his shares were forfeited.
Reissue of Forfeited Shares
3/5th of Mohan's forfeited shares were reissued for ₹3500 with a maximum permissible discount of ₹1300.
Calculation of Forfeited Shares
To calculate the number of shares forfeited from Mohan, we need to determine the total number of shares allotted.
The ratio of allotment was 5:4, which means that for every 5 shares allotted to shareholder A, 4 shares were allotted to shareholder B.
Let's assume that Z Ltd. allotted 500 shares in total.
Shareholder A would receive (5/9) * 500 = 278 shares.
Shareholder B would receive (4/9) * 500 = 222 shares.
Mohan was allotted (4/9) * 500 = 222 shares.
Since Mohan failed to pay allotment and call, his shares were forfeited.
Forfeited shares = 222 shares
Reissue of Forfeited Shares
3/5th of Mohan's forfeited shares were reissued for ₹3500 with a maximum permissible discount of ₹1300.
Maximum permissible discount = ₹1300
Reissue price per share = ₹3500 / (3/5 * 222) = ₹31.53
Maximum discount per share = ₹1300 / (3/5 * 222) = ₹11.71
Therefore, the reissued shares were sold at ₹31.53 per share with a discount of ₹11.71 per share.
Number of shares reissued = (3/5) * 222 = 133.2 shares
Since shares cannot be issued in fractions, Z Ltd. would have reissued 133 shares.
Mohan's Allotment
Mohan was allotted 222 shares initially, and 3/5th of his forfeited shares were reissued, which means that he would have received (3/5) * 222 = 133 shares.
Therefore, Mohan was allotted 133 shares after the forfeiture and reissue.
Community Answer
Z Ltd. made pro-rata allotment of ₹20 each in the ratio of 5:4 at par ...
Let the shares allotted be x . total share capital credited to his account when shares are forfeited would be Rs 4800(3500+1300).no of shares forfeited would be 4800/20 =240 shares . no of shares allotted would be 240×5/3 =400
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Z Ltd. made pro-rata allotment of ₹20 each in the ratio of 5:4 at par .Mohan failed to pay allotment and call and his shares were forfeited.3/5th of his forfeited shares were reissued for ₹3500 with maximum permissible discount of ₹1300.Mohan was alloted.shares.?
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Z Ltd. made pro-rata allotment of ₹20 each in the ratio of 5:4 at par .Mohan failed to pay allotment and call and his shares were forfeited.3/5th of his forfeited shares were reissued for ₹3500 with maximum permissible discount of ₹1300.Mohan was alloted.shares.? 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 Z Ltd. made pro-rata allotment of ₹20 each in the ratio of 5:4 at par .Mohan failed to pay allotment and call and his shares were forfeited.3/5th of his forfeited shares were reissued for ₹3500 with maximum permissible discount of ₹1300.Mohan was alloted.shares.? covers all topics & solutions for Class 12 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Z Ltd. made pro-rata allotment of ₹20 each in the ratio of 5:4 at par .Mohan failed to pay allotment and call and his shares were forfeited.3/5th of his forfeited shares were reissued for ₹3500 with maximum permissible discount of ₹1300.Mohan was alloted.shares.?.
Z Ltd. made pro-rata allotment of ₹20 each in the ratio of 5:4 at par .Mohan failed to pay allotment and call and his shares were forfeited.3/5th of his forfeited shares were reissued for ₹3500 with maximum permissible discount of ₹1300.Mohan was alloted.shares.? 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 Z Ltd. made pro-rata allotment of ₹20 each in the ratio of 5:4 at par .Mohan failed to pay allotment and call and his shares were forfeited.3/5th of his forfeited shares were reissued for ₹3500 with maximum permissible discount of ₹1300.Mohan was alloted.shares.? covers all topics & solutions for Class 12 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Z Ltd. made pro-rata allotment of ₹20 each in the ratio of 5:4 at par .Mohan failed to pay allotment and call and his shares were forfeited.3/5th of his forfeited shares were reissued for ₹3500 with maximum permissible discount of ₹1300.Mohan was alloted.shares.?.
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Here you can find the meaning of Z Ltd. made pro-rata allotment of ₹20 each in the ratio of 5:4 at par .Mohan failed to pay allotment and call and his shares were forfeited.3/5th of his forfeited shares were reissued for ₹3500 with maximum permissible discount of ₹1300.Mohan was alloted.shares.? defined & explained in the simplest way possible. Besides giving the explanation of
Z Ltd. made pro-rata allotment of ₹20 each in the ratio of 5:4 at par .Mohan failed to pay allotment and call and his shares were forfeited.3/5th of his forfeited shares were reissued for ₹3500 with maximum permissible discount of ₹1300.Mohan was alloted.shares.?, a detailed solution for Z Ltd. made pro-rata allotment of ₹20 each in the ratio of 5:4 at par .Mohan failed to pay allotment and call and his shares were forfeited.3/5th of his forfeited shares were reissued for ₹3500 with maximum permissible discount of ₹1300.Mohan was alloted.shares.? has been provided alongside types of Z Ltd. made pro-rata allotment of ₹20 each in the ratio of 5:4 at par .Mohan failed to pay allotment and call and his shares were forfeited.3/5th of his forfeited shares were reissued for ₹3500 with maximum permissible discount of ₹1300.Mohan was alloted.shares.? theory, EduRev gives you an
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