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Question
E ltd. had allotted 10,000 shares to the applicants of 14,000 shares on pro-rata basis. The amount payable on application was Rs. 2 and balance on allotment. F applied for 420 shares. The number of shares allotted and the amount carried forward for adjustment against allotment money due from F will be :
E ltd. had allotted 10,000 shares to the applicants of 14,000 shares on pro-rata basis. The amount payable on application was Rs. 2 and balance on allotment. F applied for 420 shares. The number of shares allotted and the amount carried forward for adjustment against allotment money due from F will be :
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Solution
The correct option is B - 300 shares; Rs. 240
No. of shares allotted to F
= 420 x 10,000/14,000
= 300
The amount carried forward for adjustment against allotment money due from F will be
= (420 - 300) x 2
= 120 x 2
= Rs 240
The correct option is B - 300 shares; Rs. 240
No. of shares allotted to F
= 420 x 10,000/14,000
= 300
The amount carried forward for adjustment against allotment money due from F will be
= (420 - 300) x 2
= 120 x 2
= Rs 240
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