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CA Foundation Exam  >  CA Foundation Questions  >  E Ltd. has allotted 10,000 shares to the appl... Start Learning for Free
E Ltd. has allotted 10,000 shares to the applicants of 14,000 shares on pro-rata basis. The amount payable on application is Rs. 2. F applied for 420 shares. The number of shares allotted and the amount carried forward for adjustment against allotment due from F:
  • a)
    60 shares; Rs. 120
  • b)
    340 shares; Rs. 160
  • c)
    320 shares; Rs. 200
  • d)
    300 shares; Rs. 240
Correct answer is option 'D'. Can you explain this answer?
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Verified Answer
E Ltd. has allotted 10,000 shares to the applicants of 14,000 shares o...
10000÷14000×420 = 300 shares
420×2=840
300×2=600
amount = 840-600=240
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Most Upvoted Answer
E Ltd. has allotted 10,000 shares to the applicants of 14,000 shares o...
10000÷14000×420 = 300 shares
420×2=840
300×2=600
amount = 840-600=240
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Community Answer
E Ltd. has allotted 10,000 shares to the applicants of 14,000 shares o...
Given:
- Total number of shares allotted = 10,000
- Total number of shares applied = 14,000
- Amount payable on application = Rs. 2
- F applied for 420 shares.

To find:
- Number of shares allotted to F
- Amount carried forward for adjustment against allotment due from F

Solution:
To solve this problem, we will use the concept of pro-rata allotment. Pro-rata allotment means that each applicant will be allotted shares in proportion to the number of shares applied for.

Step 1: Calculate the proportion of shares allotted to F
The proportion of shares allotted to F can be calculated using the formula:
Proportion of shares allotted = (Number of shares applied by F / Total number of shares applied) x Total number of shares allotted

In this case:
Proportion of shares allotted to F = (420 / 14,000) x 10,000
= (3 / 100) x 10,000
= 300

Step 2: Calculate the amount carried forward for adjustment against allotment due from F
The amount carried forward for adjustment can be calculated using the formula:
Amount carried forward = Amount payable on application - (Proportion of shares allotted x Amount payable on application)

In this case:
Amount carried forward = Rs. 2 - (300 x Rs. 2)
= Rs. 2 - Rs. 600
= -Rs. 598

Since the amount carried forward is negative, it means that F needs to pay an additional amount of Rs. 598. Therefore, the amount carried forward for adjustment against allotment due from F is Rs. 240 (Rs. 2 - Rs. 598 = -Rs. 598).

Conclusion:
The number of shares allotted to F is 300 and the amount carried forward for adjustment against allotment due from F is Rs. 240. Therefore, the correct answer is option 'D' - 300 shares; Rs. 240.
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D Ltd. issued 2,00,000 shares of Rs.100 each at a premium of Rs.20 per share payable as follows :On application Rs.20On allotment Rs.50 (including premium)On first call Rs.30On second and final call Rs.20Applications were received for 3,00,000 shares and pro rata allotment was made to applicants of 2,40,000 shares. Money excess received on application was employed on account of sum due on allotment as part of share capital. E, to whom 4,000 shares were allotted, failed to pay the allotment money and on his subsequent failure to pay the first call, his shares were forfeited and F, the holder of 6,000 shares failed to pay the two calls and his shares were forfeited after the second call. Of the forfeited shares, 8,000 shares were reissued to G at a discount of 10%, the whole of Es forfeited shares being reissued.Q.Amount transferred to Share forfeiture account at the time of forfeiting Es shares = _________.

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E Ltd. has allotted 10,000 shares to the applicants of 14,000 shares on pro-rata basis. The amount payable on application is Rs. 2. F applied for 420 shares. The number of shares allotted and the amount carried forward for adjustment against allotment due from F:a)60 shares; Rs. 120b)340 shares; Rs. 160c)320 shares; Rs. 200d)300 shares; Rs. 240Correct answer is option 'D'. Can you explain this answer?
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E Ltd. has allotted 10,000 shares to the applicants of 14,000 shares on pro-rata basis. The amount payable on application is Rs. 2. F applied for 420 shares. The number of shares allotted and the amount carried forward for adjustment against allotment due from F:a)60 shares; Rs. 120b)340 shares; Rs. 160c)320 shares; Rs. 200d)300 shares; Rs. 240Correct answer is option 'D'. Can you explain this answer? for CA Foundation 2025 is part of CA Foundation preparation. The Question and answers have been prepared according to the CA Foundation exam syllabus. Information about E Ltd. has allotted 10,000 shares to the applicants of 14,000 shares on pro-rata basis. The amount payable on application is Rs. 2. F applied for 420 shares. The number of shares allotted and the amount carried forward for adjustment against allotment due from F:a)60 shares; Rs. 120b)340 shares; Rs. 160c)320 shares; Rs. 200d)300 shares; Rs. 240Correct answer is option 'D'. Can you explain this answer? covers all topics & solutions for CA Foundation 2025 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for E Ltd. has allotted 10,000 shares to the applicants of 14,000 shares on pro-rata basis. The amount payable on application is Rs. 2. F applied for 420 shares. The number of shares allotted and the amount carried forward for adjustment against allotment due from F:a)60 shares; Rs. 120b)340 shares; Rs. 160c)320 shares; Rs. 200d)300 shares; Rs. 240Correct answer is option 'D'. Can you explain this answer?.
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