Rishi Limited invited applications for 2,00,000 of its equity shares of Rs.10 each on the following terms: |
Payable on application Rs.5 per share |
Payable on allotment Rs.3 per share |
Payable on first and final call Rs.2 per share |
Applications for 2,50,000 shares were received. It was decided: |
to refuse allotment to the applicants for 10,000 shares; |
to allot in full to applicants for 40,000 shares; |
to allot the balance of the available shares pro-rata among the other applicants; and |
Excess application money is to be utilised on allotment One applicant (Ram) who applied for 2000 shares (had been allotted shares on pro-rata basis), did not pay the amount due on allotment. |
1. | Number of shares allotted to Ram | (A) | 2,00,000 |
2. | Allotment money adjusted on application | (B) | 50,000 |
3. | Amount refunded on application | (C) | 3,97,200 |
4. | Net allotment money received | (D) | 1600 |
A) 1-[B]; 2-[C]; 3-[D]; 4-[A]
B) 1-[D]; 2-[B]; 3-[A]; 4-[C]
C) 1-[C]; 2-[A]; 3-[D]; 4-[B]
D) 1-[D]; 2-[A]; 3-[B]; 4-[C]
Correct Answer: D
Solution :
1-[D]; 2-[A]; 3-[B]; 4-[C]You need to login to perform this action.
You will be redirected in
3 sec