question_answer

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.

Match the followings:

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]