A company invited applications for 75,000 equity shares of Rs. 100 each. The application money received @ Rs. 30 per share was Rs. 27,00,000. Name the kind of subscription. List the three alternatives for allotting these shares.
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Sunshine Ltd. issued 20,000 shares of Rs. 100 each payable Rs. 25 per share on application, Rs. 25 per share on allotment and the balance in two calls
Correct Answer - Capital Reserve-Rs. 18,000.
2 Answers 1 views
Slow & Steady Ltd. invited applications for 10,000 Equity Shares of Rs. 10 each for public subscription. The amount of these shares was payable as: On
Correct Answer - Capital Reserve-Rs. 750.
2 Answers 18 views
Sukanya Ltd. invited applications for issuing 1,00,000 equity shares of Rs. 10 each. The shares were issued at a premium of Rs. 20 per share. The amou
Correct Answer - Capital Reserve-Rs. 19,000.
2 Answers 5 views
Alfa Ltd. invited applications for issuing 75,000 equity shares of Rs. 10 each. The amount was payable as follows: `{:("On application and allotment "
Correct Answer - Capital Reserve-Rs. 3,250.
2 Answers 2 views
JJK Ltd. invited applications for issuing 50,000 equity shares of Rs. 10 each at par. The amount was payable as follows: On Application-Rs. 2 per shar
Correct Answer - Allotment money due but not paid by Deepak-Rs. 1,000; by Raju-Rs. 100; allotment money received-Rs. 88,900; Capital Reserve-Rs. 2,500.
2 Answers 1 views
Nitro Paints Ltd. invited applications for issuing 1,60,000 equity shares of Rs. 10 each at a premium of Rs. 3 per share. The amount was payable as fo
Correct Answer - Amount forfeited -Rs. 17,200; Amount transferred to capital Reserve-Rs. 8,600.
2 Answers 2 views
Raja Ltd. invited applications for issuing 50,000 Equity Shares of Rs. 10 each. The amount was payable as follows: `{:("On application",-,"Rs. 3 per s
Correct Answer - Amount due but not received from Ramesh on allotment-Rs. 1,900; Allotment money received later on-Rs. 1,88,100; Amount transferred to Capital Reserve-Rs. 3,500.
2 Answers 3 views
XYZ Ltd. invited applications for issuing 50,000 Equity Shares of Rs. 10 each. The amount was payable as: `{:("On application",-,"Rs. 3 per share,"),(
Correct Answer - Money not paid by Ramu on Allotment-Rs. 3,600; Money Received on Allotment-Rs. 1,21,400 and Amount transferred to Capital Reserve-Rs. 3,200.s
2 Answers 2 views
Bharat Ltd. invited applications for issuing 2,00,000 Equity Shares of Rs. 10 each. The amount was payable as: On application Rs. 3 per share, on allo
Correct Answer - Capital Reserve-Rs. 9,000.
2 Answers 1 views
The Directors of Super Star Ltd. invited applications for 2,00,000 Equity Shares of Rs. 10 each to be issued at 20% premium . The money payable per sh
Correct Answer - Amount forfeited-Rs. 11,000 (for Categories `i` and ii ) + Rs. 8,400 (Category iii) = Rs. 19,400; Amount transferred to Capital Reserve-Rs. 4,400; Actual amount received on...
2 Answers 2 views