Tee Ltd. had allotted 10,000 shares to the applicants of 14,000 shares on a pro-rata basis. The amount payable on application was ₹ 3 and balance on allotment. F applied for 420 shares. The amount received on allotment from F will be:
[0.88 marks]
Particulars | (₹) |
Paid on application (420 × ₹3) (-) Due on application (300 × ₹3) Excess carried forward |
1,260 (900) 360 |
Allotment money due (300 × ₹7) (-) Adjusted from application money Amount received on allotment |
2,100 (360) 1,740 |