Q 122 DK Goel Issue of Shares Solutions Class 12 CBSE (2024-25)

Solution of Question number 122 of Accounting for Companies Issue of shares chapter 6 of DK Goel Class 12 CBSE (2024-25)

Jaya 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. Applications were received for 82,000 shares. The Directors resolved to allot as follows:

(A) Applicants of 30,000 shares	20,000 shares
(B) Applicants of 50,000 shares	40,000 shares
(C) Applicants of 2,000 shares	Nil

Ramesh who had applied for 900 shares in category (A), and Suresh who was allotted 600 shares in category (B) failed to pay the allotment money. Calculate the amount received on Allotment.

[Ans. Amount received on Allotment ₹ 2,35,350.]

Solution:-

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