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GAurav applied for 5000share of 10 each at a premium of 2.50per share. But he was alloted only 2500 share on Pro rata basis. After having paid 3 per share on application he did not pay allotment money of 4.50per share including premium and on his subsequent failure to pay the first call of 2 per share his share were forfeited these share were reissued at the 8 per share ?
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GAurav applied for 5000share of 10 each at a premium of 2.50per share....
Background:
- Gaurav applied for 5000 shares at a premium of 2.50 per share.
- He was allotted only 2500 shares on a pro-rata basis.
- He paid 3 per share on application but did not pay the allotment money of 4.50 per share including premium.
- He also failed to pay the first call of 2 per share.
- As a result, his shares were forfeited and reissued at 8 per share.
Explanation:
1. Application:
- Gaurav applied for 5000 shares at a face value of 10 each, with a premium of 2.50 per share.
- The total amount payable on application is calculated as follows:
Total amount = Number of shares * (Face value + Premium)
= 5000 * (10 + 2.50) = 5000 * 12.50 = 62500
2. Allotment:
- Gaurav was allotted only 2500 shares on a pro-rata basis.
- The total amount payable on allotment is calculated as follows:
Total amount = Number of shares allotted * (Face value + Premium)
= 2500 * (10 + 2.50) = 2500 * 12.50 = 31250
3. Payment:
- Gaurav paid 3 per share on application, which amounts to a total of:
Payment on application = Number of shares * Payment per share
= 2500 * 3 = 7500
4. Non-payment of Allotment Money:
- Gaurav did not pay the allotment money of 4.50 per share, including the premium.
- As a result, his shares were forfeited.
5. Reissue of Forfeited Shares:
- The forfeited shares were reissued at 8 per share.
- Gaurav's forfeited shares were 2500 in number.
- The total amount received from the reissue is calculated as follows:
Total amount received = Number of reissued shares * Reissue price per share
= 2500 * 8 = 20000
Summary:
- Gaurav applied for 5000 shares but was allotted only 2500 shares on a pro-rata basis.
- He paid 3 per share on application but failed to pay the allotment money of 4.50 per share, resulting in the forfeiture of his shares.
- The forfeited shares were reissued at 8 per share, generating a total of 20000.
- Gaurav applied for 5000 shares at a premium of 2.50 per share.
- He was allotted only 2500 shares on a pro-rata basis.
- He paid 3 per share on application but did not pay the allotment money of 4.50 per share including premium.
- He also failed to pay the first call of 2 per share.
- As a result, his shares were forfeited and reissued at 8 per share.
Explanation:
1. Application:
- Gaurav applied for 5000 shares at a face value of 10 each, with a premium of 2.50 per share.
- The total amount payable on application is calculated as follows:
Total amount = Number of shares * (Face value + Premium)
= 5000 * (10 + 2.50) = 5000 * 12.50 = 62500
2. Allotment:
- Gaurav was allotted only 2500 shares on a pro-rata basis.
- The total amount payable on allotment is calculated as follows:
Total amount = Number of shares allotted * (Face value + Premium)
= 2500 * (10 + 2.50) = 2500 * 12.50 = 31250
3. Payment:
- Gaurav paid 3 per share on application, which amounts to a total of:
Payment on application = Number of shares * Payment per share
= 2500 * 3 = 7500
4. Non-payment of Allotment Money:
- Gaurav did not pay the allotment money of 4.50 per share, including the premium.
- As a result, his shares were forfeited.
5. Reissue of Forfeited Shares:
- The forfeited shares were reissued at 8 per share.
- Gaurav's forfeited shares were 2500 in number.
- The total amount received from the reissue is calculated as follows:
Total amount received = Number of reissued shares * Reissue price per share
= 2500 * 8 = 20000
Summary:
- Gaurav applied for 5000 shares but was allotted only 2500 shares on a pro-rata basis.
- He paid 3 per share on application but failed to pay the allotment money of 4.50 per share, resulting in the forfeiture of his shares.
- The forfeited shares were reissued at 8 per share, generating a total of 20000.
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GAurav applied for 5000share of 10 each at a premium of 2.50per share. But he was alloted only 2500 share on Pro rata basis. After having paid 3 per share on application he did not pay allotment money of 4.50per share including premium and on his subsequent failure to pay the first call of 2 per share his share were forfeited these share were reissued at the 8 per share ?
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GAurav applied for 5000share of 10 each at a premium of 2.50per share. But he was alloted only 2500 share on Pro rata basis. After having paid 3 per share on application he did not pay allotment money of 4.50per share including premium and on his subsequent failure to pay the first call of 2 per share his share were forfeited these share were reissued at the 8 per share ? for Commerce 2024 is part of Commerce preparation. The Question and answers have been prepared according to the Commerce exam syllabus. Information about GAurav applied for 5000share of 10 each at a premium of 2.50per share. But he was alloted only 2500 share on Pro rata basis. After having paid 3 per share on application he did not pay allotment money of 4.50per share including premium and on his subsequent failure to pay the first call of 2 per share his share were forfeited these share were reissued at the 8 per share ? covers all topics & solutions for Commerce 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for GAurav applied for 5000share of 10 each at a premium of 2.50per share. But he was alloted only 2500 share on Pro rata basis. After having paid 3 per share on application he did not pay allotment money of 4.50per share including premium and on his subsequent failure to pay the first call of 2 per share his share were forfeited these share were reissued at the 8 per share ?.
GAurav applied for 5000share of 10 each at a premium of 2.50per share. But he was alloted only 2500 share on Pro rata basis. After having paid 3 per share on application he did not pay allotment money of 4.50per share including premium and on his subsequent failure to pay the first call of 2 per share his share were forfeited these share were reissued at the 8 per share ? for Commerce 2024 is part of Commerce preparation. The Question and answers have been prepared according to the Commerce exam syllabus. Information about GAurav applied for 5000share of 10 each at a premium of 2.50per share. But he was alloted only 2500 share on Pro rata basis. After having paid 3 per share on application he did not pay allotment money of 4.50per share including premium and on his subsequent failure to pay the first call of 2 per share his share were forfeited these share were reissued at the 8 per share ? covers all topics & solutions for Commerce 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for GAurav applied for 5000share of 10 each at a premium of 2.50per share. But he was alloted only 2500 share on Pro rata basis. After having paid 3 per share on application he did not pay allotment money of 4.50per share including premium and on his subsequent failure to pay the first call of 2 per share his share were forfeited these share were reissued at the 8 per share ?.
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GAurav applied for 5000share of 10 each at a premium of 2.50per share. But he was alloted only 2500 share on Pro rata basis. After having paid 3 per share on application he did not pay allotment money of 4.50per share including premium and on his subsequent failure to pay the first call of 2 per share his share were forfeited these share were reissued at the 8 per share ?, a detailed solution for GAurav applied for 5000share of 10 each at a premium of 2.50per share. But he was alloted only 2500 share on Pro rata basis. After having paid 3 per share on application he did not pay allotment money of 4.50per share including premium and on his subsequent failure to pay the first call of 2 per share his share were forfeited these share were reissued at the 8 per share ? has been provided alongside types of GAurav applied for 5000share of 10 each at a premium of 2.50per share. But he was alloted only 2500 share on Pro rata basis. After having paid 3 per share on application he did not pay allotment money of 4.50per share including premium and on his subsequent failure to pay the first call of 2 per share his share were forfeited these share were reissued at the 8 per share ? theory, EduRev gives you an
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