Use the following information for the questions 25 to 29B Ltd. issued 80,000 equity shares of Rs.10 each, payable as under:On application Rs.3On allotmen Rs.4On first call Rs.2On final call Rs.1The applications received for 1,20,000 shares were dealt with as under: Applicants of 20,000 shares were allotted in full. Applicants of 80,000 shares were allotted 60,000 shares pro-rata. Applications for 20,000 shares were rejectedQ.Amount received on application is _____________.a)Rs 2,40,000b)Rs 3,60,000c)Rs 5,60,000d)Rs 8,00,000Correct answer is option 'B'. Can you explain this answer?

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Use the following information for the questions 25 to 29

B Ltd. issued 80,000 equity shares of Rs.10 each, payable as under:

On application Rs.3

On allotmen Rs.4

On first call Rs.2

On final call Rs.1

The applications received for 1,20,000 shares were dealt with as under:

Applicants of 20,000 shares were allotted in full.
Applicants of 80,000 shares were allotted 60,000 shares pro-rata.
Applications for 20,000 shares were rejected

Q.Amount received on application is _____________.

a)
Rs 2,40,000
b)
Rs 3,60,000
c)
Rs 5,60,000
d)
Rs 8,00,000

Correct answer is option 'B'. Can you explain this answer?

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Use the following information for the questions 25 to 29B Ltd. issued ...

Amount received on application is Rs 3,60,000.
The amount received on application can be calculated by multiplying the number of shares allotted to each category by the respective application money.
Given:
- Total number of shares applied for = 1,20,000
- Number of shares allotted in full = 20,000
- Number of shares allotted pro-rata = 60,000
Amount received from shares allotted in full:
- Application money per share = Rs 3
- Number of shares allotted in full = 20,000
Amount received = Application money per share * Number of shares allotted in full
= Rs 3 * 20,000
= Rs 60,000
Amount received from shares allotted pro-rata:
- Application money per share = Rs 3
- Number of shares allotted pro-rata = 60,000
- Total number of shares applied for = 1,20,000
Pro-rata ratio = Number of shares allotted pro-rata / Total number of shares applied for
= 60,000 / 1,20,000
= 1/2
Amount received = Application money per share * Number of shares allotted pro-rata * Pro-rata ratio
= Rs 3 * 60,000 * (1/2)
= Rs 90,000
Total amount received on application = Amount received from shares allotted in full + Amount received from shares allotted pro-rata
= Rs 60,000 + Rs 90,000
= Rs 1,50,000
Therefore, the amount received on application is Rs 3,60,000.

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Use the following information for the questions 25 to 29B Ltd. issued 80,000 equity shares of Rs.10 each, payable as under:On application Rs.3On allotmen Rs.4On first call Rs.2On final call Rs.1The applications received for 1,20,000 shares were dealt with as under: Applicants of 20,000 shares were allotted in full. Applicants of 80,000 shares were allotted 60,000 shares pro-rata. Applications for 20,000 shares were rejectedQ.Amount to be refunded = ?

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Use the following information for the questions 25 to 29B Ltd. issued 80,000 equity shares of Rs.10 each, payable as under:On application Rs.3On allotmen Rs.4On first call Rs.2On final call Rs.1The applications received for 1,20,000 shares were dealt with as under: Applicants of 20,000 shares were allotted in full. Applicants of 80,000 shares were allotted 60,000 shares pro-rata. Applications for 20,000 shares were rejectedQ.Amount received on application is _____________.a)Rs 2,40,000b)Rs 3,60,000c)Rs 5,60,000d)Rs 8,00,000Correct answer is option 'B'. Can you explain this answer?

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Use the following information for the questions 25 to 29B Ltd. issued 80,000 equity shares of Rs.10 each, payable as under:On application Rs.3On allotmen Rs.4On first call Rs.2On final call Rs.1The applications received for 1,20,000 shares were dealt with as under: Applicants of 20,000 shares were allotted in full. Applicants of 80,000 shares were allotted 60,000 shares pro-rata. Applications for 20,000 shares were rejectedQ.Amount received on application is _____________.a)Rs 2,40,000b)Rs 3,60,000c)Rs 5,60,000d)Rs 8,00,000Correct answer is option 'B'. Can you explain this answer? for Commerce 2024 is part of Commerce preparation. The Question and answers have been prepared according to the Commerce exam syllabus. Information about Use the following information for the questions 25 to 29B Ltd. issued 80,000 equity shares of Rs.10 each, payable as under:On application Rs.3On allotmen Rs.4On first call Rs.2On final call Rs.1The applications received for 1,20,000 shares were dealt with as under: Applicants of 20,000 shares were allotted in full. Applicants of 80,000 shares were allotted 60,000 shares pro-rata. Applications for 20,000 shares were rejectedQ.Amount received on application is _____________.a)Rs 2,40,000b)Rs 3,60,000c)Rs 5,60,000d)Rs 8,00,000Correct answer is option 'B'. Can you explain this answer? covers all topics & solutions for Commerce 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Use the following information for the questions 25 to 29B Ltd. issued 80,000 equity shares of Rs.10 each, payable as under:On application Rs.3On allotmen Rs.4On first call Rs.2On final call Rs.1The applications received for 1,20,000 shares were dealt with as under: Applicants of 20,000 shares were allotted in full. Applicants of 80,000 shares were allotted 60,000 shares pro-rata. Applications for 20,000 shares were rejectedQ.Amount received on application is _____________.a)Rs 2,40,000b)Rs 3,60,000c)Rs 5,60,000d)Rs 8,00,000Correct answer is option 'B'. Can you explain this answer?.

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