ABC Ltd. invited applications for public issue of 20, 000 equity shares of Rs.10 each at...
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ABC Ltd. invited applications for public issue of 20, 000 equity shares of Rs.10 each at premium of Rs.2, payable as under Rs.2 on application, Rs.3 on allotment, Rs.5 on first call (including premium) and balance on second and final call. Applications were received for 30,000 shares, pro rata allotment was made for 24, 000 applications and the remaining applications were rejected, Gopal who applied for 4800 shares failed to pay second call consequently his shares were forfeited and reissued at Rs.6. Find the number of shares allotted to Gopal on pro rata basis. ABC Ltd. invited applications for public issue of 20, 000 equity shares of Rs.10 each at premium of Rs.2, payable as under Rs.2 on application, Rs.3 on allotment, Rs.5 on first call (including premium) and balance on second and final call. Applications were received for 30,000 shares, pro rata allotment was made for 24, 000 applications and the remaining applications were rejected, Gopal who applied for 4800 shares failed to pay second call consequently his shares were forfeited and reissued at Rs.6. Find the number of shares allotted to Gopal on pro rata basis.
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Related Book For
Advanced Accounting
ISBN: 978-1934319307
2nd edition
Authors: Susan S. Hamlen, Ronald J. Huefner, James A. Largay III
Posted Date:
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