Q 71 DK Goel Issue of Shares Solutions Class 12 CBSE (2024-25)

Solutions of Question number 71 of Accounting for Companies Issue of shares chapter 6 of DK Goel Class 12 CBSE (2024-25)

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. Applications were received for 52,000 shares. The directors resolved to allot as follows:

(A) Applicants of 20,000 shares	10,000 shares
(B) Applicants of 30,000 shares	20,000 shares
(C) Applicants of 2,000 shares	Nil

Balu who had applied for 4,000 shares in category A and Ganesh who was allotted 2,000 shares in category B failed to pay the allotment money. Calculate the amount received on allotment.

[Ans. Amount received on Allotment ₹ 79,000]

Solution:-

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