A one Product Ltd. is registered with authorised capital of ₹ 10,00,000 divided into 50,000 Equity Shares of ₹ 20 each
Solution:- Note:- As Minimum Subscription 25000 × 90% = 22500 shares is not received. Thus application money is refunded.
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Quality Stationers Ltd. registered with authorised capital of ₹ 20,00,000 divided into 1,00,000 equity shares of ₹ 20 each
Solution:- As Minimum subscription 50000 × 90% = 45000 shares is not received. Thus, application money is refunded.
Sony Media Ltd. issued 50,000 shares of ₹ 10 each payable ₹ 3 on application, ₹ 4 on allotment and balance on first and final call. Applications were received for 1,00,000 shares and allotment was made as follows:
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Sugandha 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
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Tiny Toys Ltd. issued ₹ 10,00,000 shares of ₹ 100 each at a premium of ₹ 20 for subscription payable as:
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Eastern India Company Limited, having an authorised capital of ₹ 10,00,000 divided into shares of ₹ 10 each, issued 50,000 shares at a premium of ₹ 3 per share payable as follows:
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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
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Sangam Marbles Ltd. invited applications for 20,000 Equity Shares of ₹ 100 each issued at par payable on application. The issue was oversubscribed by 5,000 shares and allotment was made on pro rata basis. Pass necessary Journal entries.
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Faber Ltd. Invited applications for 70,000 equity shares of ₹ 100 each. The application money received @ ₹ 30 per share was ₹ 27,00,000. Name the kind of subscription. List the three alternatives for allotting these shares.
Solution:- As actual money of the application is (70,000 * 3) ₹ 21,00,000 and on Application, there are ₹ 27,00,000 is received. Thus It is the case of over-subscription. The excess money over application ₹ 6,00,000 can be returned The…
Authorised capital of Suhani Ltd. is ₹ 45,00,000 divided into 30,000 shares of ₹ 150 each. Out of these company issued 15,000 sahres of ₹ 150 each at a premium of ₹ 10 per share. The amount was payable as follows:
Solution:-