Question

Vishant Ltd. invited applications for issuing 6,000 equity shares of \rupee10 each at 10\% premium. The issue was fully subscribed. The amount per share was payable as follows: On application - \rupee3, on allotment - \rupee3 (including premium), on first call - \rupee3, and on final call - \rupee2. Ashish, the holder of 200 shares, paid the entire money along with allotment. The total amount received on allotment was:

• A. \rupee18,000
• B. \rupee19,000
• C. \rupee25,000
• D. \rupee21,000

Hint:

For share allotment calculations, ensure you account for both premium and additional payments by specific shareholders.

Answer 1

The Correct Option is B

The amount payable on allotment is \rupee3 per share (including the premium). Total shares = 6,000. Hence, the amount received on allotment for all shares: \[ 6,000 \times \rupee3 = \rupee18,000. \] Ashish, the holder of 200 shares, paid the entire money (\rupee10 per share): \[ 200 \times \rupee10 = \rupee2,000. \] Thus, the total amount received on allotment: \[ \rupee18,000 + \rupee2,000 = \rupee19,000. \]