All Courses
Explore Courses UPSC Exam UPSC Test Series Free Notes EduRev Infinity Get the App Login Join for Free
Sign in Open App
CA Foundation Exam  >  CA Foundation Questions  >  Zebra Ltd invites applications for 50,000 sha... Start Learning for Free
SaveJoin the Discussion on the App
Zebra Ltd invites applications for 50,000 shares for which Rs. 2 per share is payable on application. Applications are received for 80,000 shares and 50,000 shares are alloted on pro-rata basis to the applicants for 70,000 shares. Calculate the excess application money from X, who was alloted 200 shares.
  • a)
    Rs.160
  • b)
    Rs.100
  • c)
    Rs.300
  • d)
    None of the above
Correct answer is option 'A'. Can you explain this answer?
FREE This question is part of
Download PDF Attempt Test
Download PDF Attempt this Test
Most Upvoted Answer
Zebra Ltd invites applications for 50,000 shares for which Rs. 2 per s...
Calculation of Excess Application Money from X

Given:
- Zebra Ltd invited applications for 50,000 shares at Rs. 2 per share.
- Applications received were for 80,000 shares.
- 50,000 shares were allotted on a pro-rata basis to applicants for 70,000 shares.
- X was allotted 200 shares.

To find:
- Excess application money from X.

Solution:
- Total amount received from applications = 80,000 x Rs. 2 = Rs. 1,60,000
- Total amount to be allotted = 50,000 x Rs. 2 = Rs. 1,00,000
- Pro-rata allotment ratio = 50,000/70,000 = 5/7

X's application amount:
- X applied for 200 shares, so the application amount = 200 x Rs. 2 = Rs. 400

Shares allotted to X:
- X was allotted 200 shares out of the 50,000 shares available for allotment.
- So, X's allotment amount = 200 x Rs. 2 = Rs. 400

Excess application money from X:
- X was allotted 200 shares, but applied for 200/5 x 7 = 280 shares (as per the pro-rata allotment ratio).
- So, X's excess application amount = (280-200) x Rs. 2 = Rs. 160

Therefore, the excess application money from X is Rs. 160, which is option (a).
Free Test
FREE
Start Free Test
Start Free Test
Community Answer
Zebra Ltd invites applications for 50,000 shares for which Rs. 2 per s...
X applied for 280 share and alloted 200 share means 80 share amount should be used on allotment as pro data basis (80*2=160 rupees is excess) Example total no. Of share is alloted 70000 on pro data basis and 50000 share is invited only means 20000 shares amount is excess overall. Amount of excess (20000*2=40000)Now calculate no. share of x applied = Formula . (Total no. Of share alloted /total no. Of share invited * no. Of share alloted to x) (70000/50000*200=280)X applied 280 share 280*2. =560 rupees Less amount is used in application 200*2. =400Excess amount is 560-400. =(160)
< Previous Question Next Question >
Explore Courses for CA Foundation exam

Similar CA Foundation Doubts

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.Net balance in Capital Reserve Account = ________.

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 refunded to shareholders = __________.

Use the following information for questions 10 to 23D 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 received on application = ___________.

Top Courses for CA FoundationView all

Top Courses for CA Foundation

Zebra Ltd invites applications for 50,000 shares for which Rs. 2 per share is payable on application. Applications are received for 80,000 shares and 50,000 shares are alloted on pro-rata basis to the applicants for 70,000 shares. Calculate the excess application money from X, who was alloted 200 shares.a)Rs.160b)Rs.100c)Rs.300d)None of the aboveCorrect answer is option 'A'. Can you explain this answer?
Question Description
Zebra Ltd invites applications for 50,000 shares for which Rs. 2 per share is payable on application. Applications are received for 80,000 shares and 50,000 shares are alloted on pro-rata basis to the applicants for 70,000 shares. Calculate the excess application money from X, who was alloted 200 shares.a)Rs.160b)Rs.100c)Rs.300d)None of the aboveCorrect answer is option 'A'. Can you explain this answer? for CA Foundation 2024 is part of CA Foundation preparation. The Question and answers have been prepared according to the CA Foundation exam syllabus. Information about Zebra Ltd invites applications for 50,000 shares for which Rs. 2 per share is payable on application. Applications are received for 80,000 shares and 50,000 shares are alloted on pro-rata basis to the applicants for 70,000 shares. Calculate the excess application money from X, who was alloted 200 shares.a)Rs.160b)Rs.100c)Rs.300d)None of the aboveCorrect answer is option 'A'. Can you explain this answer? covers all topics & solutions for CA Foundation 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Zebra Ltd invites applications for 50,000 shares for which Rs. 2 per share is payable on application. Applications are received for 80,000 shares and 50,000 shares are alloted on pro-rata basis to the applicants for 70,000 shares. Calculate the excess application money from X, who was alloted 200 shares.a)Rs.160b)Rs.100c)Rs.300d)None of the aboveCorrect answer is option 'A'. Can you explain this answer?.
Solutions for Zebra Ltd invites applications for 50,000 shares for which Rs. 2 per share is payable on application. Applications are received for 80,000 shares and 50,000 shares are alloted on pro-rata basis to the applicants for 70,000 shares. Calculate the excess application money from X, who was alloted 200 shares.a)Rs.160b)Rs.100c)Rs.300d)None of the aboveCorrect answer is option 'A'. Can you explain this answer? in English & in Hindi are available as part of our courses for CA Foundation. Download more important topics, notes, lectures and mock test series for CA Foundation Exam by signing up for free.
Here you can find the meaning of Zebra Ltd invites applications for 50,000 shares for which Rs. 2 per share is payable on application. Applications are received for 80,000 shares and 50,000 shares are alloted on pro-rata basis to the applicants for 70,000 shares. Calculate the excess application money from X, who was alloted 200 shares.a)Rs.160b)Rs.100c)Rs.300d)None of the aboveCorrect answer is option 'A'. Can you explain this answer? defined & explained in the simplest way possible. Besides giving the explanation of Zebra Ltd invites applications for 50,000 shares for which Rs. 2 per share is payable on application. Applications are received for 80,000 shares and 50,000 shares are alloted on pro-rata basis to the applicants for 70,000 shares. Calculate the excess application money from X, who was alloted 200 shares.a)Rs.160b)Rs.100c)Rs.300d)None of the aboveCorrect answer is option 'A'. Can you explain this answer?, a detailed solution for Zebra Ltd invites applications for 50,000 shares for which Rs. 2 per share is payable on application. Applications are received for 80,000 shares and 50,000 shares are alloted on pro-rata basis to the applicants for 70,000 shares. Calculate the excess application money from X, who was alloted 200 shares.a)Rs.160b)Rs.100c)Rs.300d)None of the aboveCorrect answer is option 'A'. Can you explain this answer? has been provided alongside types of Zebra Ltd invites applications for 50,000 shares for which Rs. 2 per share is payable on application. Applications are received for 80,000 shares and 50,000 shares are alloted on pro-rata basis to the applicants for 70,000 shares. Calculate the excess application money from X, who was alloted 200 shares.a)Rs.160b)Rs.100c)Rs.300d)None of the aboveCorrect answer is option 'A'. Can you explain this answer? theory, EduRev gives you an ample number of questions to practice Zebra Ltd invites applications for 50,000 shares for which Rs. 2 per share is payable on application. Applications are received for 80,000 shares and 50,000 shares are alloted on pro-rata basis to the applicants for 70,000 shares. Calculate the excess application money from X, who was alloted 200 shares.a)Rs.160b)Rs.100c)Rs.300d)None of the aboveCorrect answer is option 'A'. Can you explain this answer? tests, examples and also practice CA Foundation tests.
Explore Courses for CA Foundation exam

Top Courses for CA Foundation

Explore Courses

Suggested Free Tests

Signup for Free!
Signup to see your scores go up within 7 days! Learn & Practice with 1000+ FREE Notes, Videos & Tests.
10M+ students study on EduRev
Get App
© EduRev
Education Revolution
Signup to see your scores go up within 7 days!
Access 1000+ FREE Docs, Videos and Tests
Takes less than 10 seconds to signup