Which of the following letter is sent to the share holders whenever an amount becomes payable on shares?

Share Application Letter

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Share Allotment Letter

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Share Call Letter

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None of above

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Solution

The correct option is C Share Call Letter
Share Call letter is sent to the share holders whenever an amount becomes payable on shares. Whenever an amount is to be paid out on shares, share call letter is the required document which is to be issued to th shareholders.

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Similar questions

Q. ________ is sent to the shareholders whenever an amount becomes payable on shares.

Dogra Ltd. had an authorised capital of 1,00,00,000 divided into equity shares of Rs 100 each. The company offered 84,000 shares to the public at premium. The amount was payable as follows:

On Application Rs 30 per shares.

On Allotment Rs 40 per share (including premium).

On First and Final Call Rs 50 per share.

Applications were received for 80,000 shares. All sums were duly received except the following : Lakhan, a holder of 200 shares did not pay allotment and call money. Paras, a holder of 400 shares did not pay call money.

The company forfeited the shares of Lakhan and Paras. Subsequently, the forfeited shares were re-issued for Rs 80 per share fully paid up. Show the entries for the transaction in the Cash Book and Journal of the company.

Kaya Fab. Ltd. issued 1,00,000 equity shares of Rs 10 each payable as Rs 2 on application, Rs 4 on allotment and Rs 2 each on first and final call. Applications were received for 1,50,000 shares. Applicants of 50,000 shares were sent letters of regret and application money was refunded.

Madhur, a holder of 3,000 shares failed to pay allotment money which he paid along with the first call. Rohan, a shareholder holds 700 shares paid both the calls along with allotment. Sohan, a holder of 1,000 shares did not pay the first call and the final call. His shares were forfeited. The forfeited shares were re-issued at Rs 11 per shares as fully paid up.

Pass necessary Journal entries for the above transactions in the Books of the Company.

Q. X company issued ₹ 10,00,000 shares for subscription of ₹ 100 each at a premium of ₹ 20 per share payable as:
₹ 10 per share on application,
₹ 40 per share and ₹ 10 premium on allotment, and
₹ 50 per share and ₹ 10 premium on final payment.
Over-payments on application were to be applied towards amount due on allotment and over-payments on application exceeding amount due on allotment was to be returned. Issue was oversubscribed to the extent of 13,000 shares . Applicants for 12,000 shares were allotted only 1,000 shares and applicants for 2,000 shares were sent letters of regret. All the money due on allotment and final call was duly received .
Pass necessary entries in the company 's books to record the above transactions. Also, prepare company's Balance Sheet on completion of the above transactions.

PRACTICAL PROBLEMS

(Issue at premium and calls in arrears)

Hindusthan Petroleum Ltd., invited application for 40,000 Equity shares of Rs 100 each payable as under including 20% premium:

On Application	:	Rs 30	On Allotment	:	Rs 40 (including premium)
On First Call	:	Rs 20	On Final Call	:	Rs 30

All the shares were applied for and also allotted. One share holder who was allotted 500 shares failed to pay first and final call.

Record the above transactions in the journal of the company.

Following amounts were payable on issue of shares by a company: Rs. 3 on application, Rs. 3 on allotment, Rs. 2 on first call and Rs. 2 on final call. X holding 500 shares paid only application and allotment money whereas Y holding 400 shares did not pay final call. Amount of Calls in arrear will be :

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Which of the following letter is sent to the share holders whenever an amount becomes payable on shares?

The correct option is C Share Call LetterShare Call letter is sent to the share holders whenever an amount becomes payable on shares. Whenever an amount is to be paid out on shares, share call letter is the required document which is to be issued to th shareholders.

The correct option is C Share Call Letter
Share Call letter is sent to the share holders whenever an amount becomes payable on shares. Whenever an amount is to be paid out on shares, share call letter is the required document which is to be issued to th shareholders.