Issue of shares-arrears

Issue of shares-arrears

​Objective:

To calculate the amount of call in arrears dueto non payment of call money.

Multiple Choice

First call amount in advance from the shareholders before it is actually called up is _________.

• Debited to call- in -advance

• credited to allotment a/c

• debited to first calla/c

• credited to call-in-advance

Calculation of ​Call -in arrears

​Kiran Ltd. issued 60,000 of Rs.10 each at a premium of 2  per share payable as :

3 on application,

5 (incl. premium) on allotment and

balance on first and final call.

Application received  for 82000. shares.

The directors resolved to allot as follow:

Application of 30,000 shares  = 20,000 shares

Applicant of 50,000 shares = 40,000 shares 

Applicant of 2000 shares = Nil.

Ramesh ,who had applied for 900 shares in category (a) and

Suresh ,who alloted 600 shares in category (b) failed to pay allotment money. Calculate amount of calls in arrears and total allotment due

Multiple Choice

Ambrish Ltd offered 1000 Equity Shares of ₹10 each, of these 990 shares were subscribed. The amount was payable as ₹3 on application, ₹4 an allotment and balance on first call. If a shareholder holding 30 shares has defaulted on first call, what is the amount of money received on first call?

• 2910

• 2,970

• 3000

• 90

Multiple Choice

Ambrish Ltd offered 1000 Equity Shares of ₹10 each, of these 990 shares were subscribed. The amount was payable as ₹3 on application, ₹4 an allotment and balance on first call. If a shareholder holding 30 shares has defaulted on first call, what is the amount of money received on first call?

• 2910

• 2,970

• 3000

• 90

Multiple Choice

Green Ltd. had alloted shares to the applicants of 14000 shares  on pro rata basis. the amount  payable on application is Rs. 2/-.

Mohan applied for 420 shares.

Find the number of shares alloted to Mohan and the allotment due.

• 60 shares ; Rs. 120

• 320 shares; Rs. 200

• 300 shares Rs. 240

• 340 shares, Rs. 100