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प्रश्न
Sugandh Ltd. issued 60,000 shares of ₹ 10 each at a premium of ₹ 2 per share payable as ₹ 3 on application, ₹ 5(including premium) on allotment and the balance on first and final call. Applications were received for 92,000 shares. The Directors resolved to allot as
| (i) | Applicants of 40,000 shares | 30,000 shares, |
| (ii) | Applicants of 50,000 shares | 30,000 shares, |
| (iii) | Applicants of 2,000 shares | Nil. |
Mohan, who had applied for 800 shares in Category
(i) and Sohan, who was allotted 600 shares in Category
(ii) failed to pay the allotment money. Calculate amount received on allotment.
उत्तर
|
Issued Shares |
60,000 |
|
Less: Applied Shares |
92,000 |
|
Over-subscribed Shares |
32,000 |
Payable as:
|
Rs |
3 |
on Application |
|
Rs |
5 |
on Allotment (Including Rs 2 premium) |
|
Rs |
4 |
on First and Final Call |
|
Rs |
12 |
(10 + 2) |
|
Applied |
Allotted |
Money Received on Application @ Rs 3 |
Money adjusted on Appliction @ Rs 3 |
Excess |
Allotment due @ Rs 5 |
Excess money adjusted on Allotment @ Rs 5 |
|
40,000 |
30,000 |
1,20,000 |
90,000 |
30,000 |
1,50,000 |
30,000 |
|
50,000 |
30,000 |
1,50,000 |
90,000 |
60,000 |
1,50,000 |
60,000 |
|
2,000 |
NIL |
6,000 |
– |
6,000 |
|
|
|
|
|
|
|
(Bank) |
|
|
|
92,000 |
60,000 |
2,76,000 |
1,80,000 |
|
3,00,000 |
90,000 |
|
Applied |
Allotted |
Money Received on Application @ Rs 3 |
Money adjusted on Appliction @ Rs 3 |
Excess |
Allotment due @ Rs 5 |
Excess money adjusted on Allotment @ Rs 5 |
|
40,000 |
30,000 |
1,20,000 |
90,000 |
30,000 |
1,50,000 |
30,000 |
|
50,000 |
30,000 |
1,50,000 |
90,000 |
60,000 |
1,50,000 |
60,000 |
|
2,000 |
NIL |
6,000 |
– |
6,000 |
|
|
|
|
|
|
|
(Bank) |
|
|
|
92,000 |
60,000 |
2,76,000 |
1,80,000 |
|
3,00,000 |
90,000 |
Mohan
No.of share alloted to Mohan =
` 30000/40000 xx 800 = 600 shares`
|
Money Received on Application 800×3 |
= |
2,400 |
|
Application money adjusted to Share Capital 600×3 |
= |
1,800 |
|
Execs Money on Application |
= |
600 |
|
|
|
|
|
Allotment due on 600 shares × Rs 5 |
= |
3,000 |
|
Less: Adjustment of excess money on application |
= |
600 |
|
Calls-in-Arrears by Mohan |
|
2,400 |
Sohan
No.of shares applied by Sohan =
`50000/30000 xx 600 = 1000 shares`
|
Money received on Application 1,000×3 |
= |
3,000 |
|
Application money adjusted to Share Capital 600×3 |
= |
1,800 |
|
Excess money on application |
= |
1,200 |
|
|
|
|
|
Allotment due on 600 Shares × Rs 5 |
= |
3,000 |
|
Less: Adjustment of excess money on application |
= |
1,200 |
|
Calls-in-Arrears by Sohan |
= |
1,800 |
|
|
|
|
|
Allotment due on 60,000 shares × Rs 5 |
= |
3,00,000 |
|
Less: Excess Application money adjusted on Allotment |
= |
90,000 |
|
|
|
2,10,000 |
|
Less: Calls-in-Arrears by Mohan |
= |
2,400 |
|
Less: Calls-in-Arrears by Sohan |
= |
1,800 |
|
Money received on allotment |
= |
2,05,800 |
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संबंधित प्रश्न
Short Answer Question
Write a brief note on ‘Minimum Subscription’.
Citizen Watches Ltd. invited applications for 50,000 shares of ₹ 10 each payable ₹ 3 on application, ₹ 4 on allotment, and balance on first and final call. Applications were received for 60,000 shares. Applications were accepted for 50,000 shares and remaining applications were rejected. All calls were made and received except First and Final call on 500 shares . Pass the journal entries in the books of Citizen Watches Ltd.
Alankrit Ltd. purchased machinery of ₹ 10,00,000 from Grand Iron Works Ltd. and paid as follows:
(a) Issued 50,000 Equity Shares of ₹ 10 each at a premium of ₹ 2.
(b) Gave an acceptance of ₹ 3,00,000 payable after 3 months; and
(c) Balance by issuing post-dated cheque of two months of ₹ 1,00,000.
Pass the Journal entries in the books of Alankrit Ltd. and Grand Iron Works Ltd.
JJK Ltd. invited applications for issuing 50,000 equity shares of ₹ 10 each at par. The amount was payable as follows:
| On Application | --- | ₹ 2 per share, |
| On Allotment | --- | ₹ 4 per share; and |
| On First and Final call | --- | Balance Amount. |
The issue was oversubscribed three times. Applications for 30% shares were rejected and money refunded .Allotment was made to the remaining applicants as follows:
| Category | No . of Shares Applied | No. of Shares Allotted |
| I | 80,000 | 40,000 |
| II | 25,000 | 10,000 |
Excess money paid by the applicants who were allotted shares was adjusted towards sums due on allotment .
Deepak, a shareholder belonging to Category I , who had applied for 1,000 shares ,failed to pay the allotment money. Raju, a shareholder holding 100 shares, also failed to pay the allotment money. Raju belonged to Category II. Shares of both Deepak and Raju were forfeited immediately after allotment . Afterwards, first and final call was made and was duly received . The forfeited shares of Deepak and Raju were reissued at ₹11 per share fully paid-up.
Pass necessary journal entries for the above transactions in the books of company.
Ruchi Ltd. issued for public subscription 40,000 Equity Shares of ₹ 10 each at a premium of ₹ 2 per share payable as:
| On application | --- | ₹ 2 per share; |
| On allotment | --- | ₹ 5 per share (including premium), |
| On first call | --- | ₹ 2 per share, |
| On second and final call | --- | ₹ 3 per share. |
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Give necessary Journal entries for the above transactions.
Write the word/term/phrase which can substitute the following statement:
The expenditure incurred for purchase, installation charges, etc. of an asset.
Give the performa of a Bill of Exchange
Nominal share capital is ______.
Interest on calls in advance.
Calculate the amount of second and final call when Abhijit Ltd, issues Equity shares of ₹10 each at a premium of 40% payable on Application ₹3, On Allotment ₹5, On First Call ₹2.
The 'minimum subscription' of capital cannot be less than up to how much % of the issued amount according to SEBI (Disclosure and Investor Protection) Guidelines, 2000.
When any shareholder fails to pay the amount due on allotment or on any of the calls, such amount is known as ______
When applications for more shares of a company are received than the number of shares offered to the public for a subscription it is called ______?
Interest on calls-in-arrears is charged according to Table A at ______.
A company issued 1,000, 12% Debentures of ₹ 100 each at 10% premium. 12% stands for ______.
Shares may be issued ______.
