Question

Vandana Ltd. issued 6,000 equity shares of ₹10 each at 10% premium. The issue was fully subscribed. Amount per share was payable as follows:

On application ₹3, on allotment ₹3 (including premium), On first call ₹3 and on final call ₹2. A, a holder of 200 shares paid the entire money along with allotment. The amount received on allotment will be ______.

विकल्प

• ₹18,000

• ₹19,000

• ₹25,000

• ₹21,000

Answer 1

Vandana Ltd. issued 6,000 equity shares of ₹10 each at 10% premium. The issue was fully subscribed. Amount per share was payable as follows:

On application ₹3, on allotment ₹3 (including premium), On first call ₹3 and on final call ₹2. A, a holder of 200 shares paid the entire money along with allotment. The amount received on allotment will be ₹19,000.

Explanation:

Total shares = 6,000

Face value = ₹10

Premium = 10% = ₹1 per share

Issue price = ₹11 per share

6,000 shares × ₹3 = ₹18,000

A holds 200 shares.

Normal payment on allotment = 200 × ₹3 = ₹600

But A paid the entire balance (allotment + first call + final call) along with allotment.

Balance after application = ₹8 per share (₹2 allotment capital + ₹1 premium + ₹3 first call + ₹2 final call)

For 200 shares × ₹8 = ₹1,600

₹600 + ₹1,000 = ₹1,600

Normal Allotment (₹18,000) + Advance from A (₹1,000)

= ₹19,000