MyQuestionIcon

1

You visited us 1 times! Enjoying our articles? Unlock Full Access!

FV and MV

A company inv...

Question

A company invited application for subscription of $5000$ shares. The application were received for $6000$ shares. The shares were allotted on pro-rata bases. If Shyam applied for $180$ shares, how many shares would be allotted to him?

A

180

No worries! We‘ve got your back. Try BYJU‘S free classes today!

B

200

No worries! We‘ve got your back. Try BYJU‘S free classes today!

C

150

Right on! Give the BNAT exam to get a 100% scholarship for BYJUS courses

D

175

No worries! We‘ve got your back. Try BYJU‘S free classes today!

Open in App

Solution

The correct option is C $150$
Shares Applied = 6000
Shares Allotted = 5000
Ratio = 5:6
Shyam applied for = 180 shares
Shares allotted to Shyam = 180*5/6 =150

Suggest Corrections

thumbs-up

0

Similar questions

Q. XYZ Ltd. invited applications for issuing 50,000 Equity Shares of ₹10 each . The amount was payable as:

On application	$—$	₹ 3 per share,
On allotment	$—$	₹ 4 per share,
On first and final call	$—$	₹ 3 per share.

Applications were received for 75,000 shares and pro rata allotment was made as:
Applicants for 40,000 shares were allotted 30,000 shares on pro rata basis.
Applicants for 35,000 shares were allotted 30,000 shares on pro rata basis.
Ramu, to whom 1,200 shares were allotted out of the group applying for 40,000 shares, failed to pay the allotment money. His shares were forfeited immediately after allotment .
Shamu, who had applied for 700 shares out of the group applying for 35,000 shares , failed to pay the first and final call . His shares were also forfeited. Out of the forfeited shares, 1,000 shares were reissued @ Applicants for 40,000 shares were allotted 30,000 shares on pro rata basis. 8 per share as fully paid-up. The reissued shares included all the forfeited shares of Shamu.
Pass necessary Journal entries to record the above transactions.

Q. Bharat Ltd . invited applications for issuing 2,00,000 Equity Shares of ₹ 10 each. The amount was payable as:
On application ₹ 3 per share , on allotment ₹ 5 per share and on first and final call ₹ 2 per share. Applications for 3,00,000 shares were received and pro rata allotment was made to all the applicants on the following basis:
Applicants for 2,00,000 shares were allotted 1,50,000 shares on pro rata basis.
Applicants for 1,00,000 shares were allotted 50,000 shares on pro rata basis.
Bajaj, who was allotted 3,000 shares out of group applying for 2,00,000 shares failed to pay the allotment money. His shares were forfeited immediately after allotment . Sharma, who had applied for 2,000 shares out of the group applying for 1,00,000 shares failed to pay the first and final call . His shares were also forfeited.
Out of the forfeited shares 3,500 shares were reissued as fully paid-up @ ₹ 8 per share . The reissued shares included all the forfeited shares of Bajaj.
Give necessary journal entries to record the above transactions.

Q. A limited company issued a prospectus inviting application for 2,000 shares of Rs.10 each at premium of Rs. 2 per share payable ass follows:
On application - Rs. 2
On allotment - Rs. 5 (including premium)
On 1st call - Rs. 3
On llnd final call - Rs. 2
Application were received for 3,000 shares and allotment was mad on pro-rata basis to applicant of 2,400 shares. Money received in excess on application was adjusted towards allotment.
Ramesh whom 40 shares were allotted, failed to pay allotment money & first call his shares were forfeited. Find the number of shares Ramesh has applied for?

Q. A company invited applications for certain number of equity shares and received applications for more number of shares along with the applications money. Which of the following alternative can be followed?
I. Refund the excess applications.
II. Make pro-rata allotment to all the applicants, and no refund of excess application money.
III. Not to allot any shares to some applicants, full allotment to some of the applications and pro-rata allotment to the rest of the applicants.
IV. Not to allot any shares to some applicants and make pro-rata allotment to other applicants.

Q. A company issued 15,000 equity shares of ₹10 each to the public at a premium of ₹2 per share payable on allotment.
Applications were received for 18,000 shares, and the allotment was made on a pro rata basis. Rajan, an applicant, applied for 900 shares. Calculate the number of shares allotted to him.

[0.88 marks]

View More

Join BYJU'S Learning Program

similar_icon

Related Videos

lock

FV and MV

MATHEMATICS

Watch in App

explore_more_icon

Explore more

Standard X Mathematics

Join BYJU'S Learning Program

CrossIcon