6- Vihaan Ltd- issued 25-000 equity shares of Rs- 100 each- nbsp- The amount was payable as follows-1- On application - Rs- 30 per share-2- On allotment - Rs- 20 per share-3- On first and final call - The balance-Applications for 22-500 shares were received and shares were allotted to all the applicants- nbsp- Priya to whom 250 shares were allotted- paid her entire share money at the time of allotment- whereas Anuraag did not pay the first and final call on his 150 shares- nbsp- Calculate the amount received at the time of making first and final call-

Dear student nbsp; Call in advance receive from priya on first and final call = 250 shares nbsp; #215;50 = Rs. 12500 Call in arrears from anuraag on first ...

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Standard XII

Accountancy

Issued Share Capital

6. Vihaan Ltd...

Question

6. Vihaan Ltd. issued 25,000 equity shares of Rs. 100 each. The amount was payable as follows:
1. On application - Rs. 30 per share
2. On allotment - Rs. 20 per share
3. On first and final call - The balance
Applications for 22,500 shares were received and shares were allotted to all the applicants. Priya to whom 250 shares were allotted, paid her entire share money at the time of allotment, whereas Anuraag did not pay the first and final call on his 150 shares. Calculate the amount received at the time of making first and final call.

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Solution

Dear student
Call-in-advance receive from priya on first and final call = 250 shares $\times$ 50 = Rs. 12500
Call-in-arrears from anuraag on first and final call = 150 shares $\times$ 50 = Rs. 7500
Amount due on first and final call = 22500 shares $\times$ 50 = Rs. 1125000
Less : call-in-advance = (12500)
Less : call-in-arrears = (7500)
amount received on first and final call = Rs. 1105000
Regards

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