(i) Allotment in full (two applicants paid in full on allotment in respect of 4,000 shares each) | 38,000 |
(ii) Allotment of two shares for every three shares applied for | 1,60,000 |
(iii) Allotment of one share for every four shares applied for | 2,000 |
On application | Rs. 3 per share |
On allotment | Rs. 5 per share (including premium) |
On first call | Rs. 1 per share |
On second and final call | Rs. 3 per share |
Answer:
Capital reserve = Rs. 650 Or Allotment received = Rs. 4,22,400 and capital reserve = Rs. 38,400
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