Use the following information for questions given ahead: D Ltd. issued 2,00, 000 shares of Rs.100...

 

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Use the following information for questions given ahead: D Ltd. issued 2,00, 000 shares of Rs.100 each at a premium of Rs.20 per share payable as follows: On application Rs.20; On allotment Rs.50 (including premium); On first call Rs.30; On second and final call Rs.20. Applications were received for 3, 00, 000 shares and pro-rata allotment was made to applications of 2, 40, 000 shares. Money excess received on application was employed on account of sum due on allotment as part of share capital. A, to whom 4,000 shares were allotted, failed to pay the allotment money and on his subsequent failure to pay the first call, his shares were forfeited and B, the holder of 6,000 shares, failed to pay the two calls and his shares were forfeited after the second call. Of the forfeited shares, 8,000 shares were reissued to C at a discount of 10%, the whole of A's forfeited shares being reissued. Amount received on application will be Use the following information for questions given ahead: D Ltd. issued 2,00, 000 shares of Rs.100 each at a premium of Rs.20 per share payable as follows: On application Rs.20; On allotment Rs.50 (including premium); On first call Rs.30; On second and final call Rs.20. Applications were received for 3, 00, 000 shares and pro-rata allotment was made to applications of 2, 40, 000 shares. Money excess received on application was employed on account of sum due on allotment as part of share capital. A, to whom 4,000 shares were allotted, failed to pay the allotment money and on his subsequent failure to pay the first call, his shares were forfeited and B, the holder of 6,000 shares, failed to pay the two calls and his shares were forfeited after the second call. Of the forfeited shares, 8,000 shares were reissued to C at a discount of 10%, the whole of A's forfeited shares being reissued. Amount received on application will be

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