12th Class
Accountancy
Accounting For Share Capital
Question Bank
Case Based - Accounting for Share Capital
question_answer
On the basis of the above information give answer to the following questions 17 to 21: Vinod Limited invited applications for subscription of 40,000 Equity Shares. Applications were received in excess of 50% of the shares offered for subscription and pro-rata allotment was made to the applicants of 48,000 shares and a letter or regret was sent to the remaining with refund. David was allotted 1,600 shares and Mohan had applied for 2,400 shares. Applications received by Vinod Ltd.