Kamal Ltd. issued 5,000, 12% Debentures of ₹ 100 each, payable as follows: ₹ 10 on application, ₹ 15 on allotment, ₹ 30 on first call and ₹ 45 on second and final call
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Balaji Ltd. issued 10,000, 13% Debentures of ₹ 100 each, payable as follows: ₹ 20 on application, ₹ 30 on allotment and ₹ 50 on first and final call
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Jupiter Ltd. issued shares of ₹ 100 each at a premium of 40% payable as follows: On Application ₹ 50 On Allotment ₹ 70 (including Premium)
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Kochi Silk Ltd. issued a prospectus inviting applications for 40,000 shares of ₹ 10 each at a premium of ₹ 8 per share, payable as follows:
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Sun Ltd. issued shares of ₹ 50 each at a premium of 20% payable as follows: On Application ₹ 15 On Allotment ₹ 25 (including premium)
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Khushboo Ltd. issued for public subscription 50,000 equity shares of ₹ 10 each at a premium of 30% payable as under:
Solution:- Note:- As per question, first share capital part of allotment is covered with excess application, then securities premium is covered with rest of the amount.
Meena Ltd. issued 30,000 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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X Ltd. invited applications for 4,00,000 shares of ₹ 10 each. The shares were issued at a premium of ₹ 7 per share. The amount was payable as follows:
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X Ltd. forfeited 1,500 shares of ₹ 10 each (originally issued at a premium of ₹ 3 per share which was payable along with application money) on which allotment money of ₹ 3 and first call money of ₹ 2 were not received
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Ritu Fabrics Ltd. invited applications for issuing 5,00,000 shares of ₹ 10 each at a premium of ₹ 4 per share. The amounts were payable as follows:
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