Question:
X Ltd. invited applications for 90,000 equity shares of ₹ 100 each. Applications for 2,00,000 shares were received. 5,000 shares applicant paid full amount with application. Allotment = ₹50, Application = ₹20, Final Call = ₹30.
X Ltd. invited applications for 90,000 equity shares of ₹ 100 each. Applications for 2,00,000 shares were received. 5,000 shares applicant paid full amount with application. Allotment = ₹50, Application = ₹20, Final Call = ₹30.
Show Hint
Always add any excess payment with application when shares are overpaid.
Updated On: Jul 8, 2025
- ₹ 44,00,000
- ₹ 40,00,000
- ₹ 18,00,000
- ₹ 90,00,000
Hide Solution
Verified By Collegedunia
The Correct Option is A
Solution and Explanation
Normal applications = 1,95,000 × ₹20 = ₹39,00,000
Full money by 5,000 shares = ₹100 × 5,000 = ₹5,00,000
Total = ₹39,00,000 + ₹5,00,000 = ₹44,00,000
Full money by 5,000 shares = ₹100 × 5,000 = ₹5,00,000
Total = ₹39,00,000 + ₹5,00,000 = ₹44,00,000
Was this answer helpful?
0
0
Top Questions on Accounting for Share Capital
- Altima Ltd. invited applications for 2,00,000 equity shares of ₹ 10 at a premium of ₹ 4 per share. Amount payable:
On application and allotment – ₹ 7 (incl. ₹ 1 premium)
On first and final call – Balance.
Applications received for 2,40,000 shares. 30,000 rejected. Manvi allotted 4,000 shares failed to pay first and final call. Her shares were forfeited. These were reissued at ₹ 4 per share fully paid-up.
Pass journal entries in the books of Altima Ltd.- CBSE CLASS XII - 2025
- Accountancy
- Accounting for Share Capital
- Sona Ltd. invited applications for issuing 60,000 equity shares of ₹ 50 each. The amount was payable as follows:
On Application – ₹ 20 per share
On Allotment – ₹ 25 per share
On First and final call – Balance
Applications for 90,000 shares were received. Applications for 10,000 shares were rejected and application money refunded. Shares were allotted on pro-rata basis to the remaining applicants. Excess money received with applications was adjusted towards sums due on allotment. Rahul, to whom 600 shares were allotted, failed to pay the allotment money and his shares were forfeited immediately. Afterwards, the first and final call was made. Mona, to whom 1,000 shares were allotted, failed to pay the first and final call. Her shares were also forfeited. Pass necessary journal entries in the books of Sona Ltd. for the above transactions.- CBSE CLASS XII - 2025
- Accountancy
- Accounting for Share Capital
- Pass necessary journal entries for forfeiture and reissue of forfeited shares in the following cases:
(i) Macil Ltd. forfeited 3,000 shares of ₹ 100 each issued at 20% premium for non-payment of allotment ₹ 30/share and 1st call ₹ 40/share (incl. premium ₹ 10). 2nd and final call of ₹ 30 not yet called. Out of these, 2,000 were reissued at ₹ 80 each fully paid up for ₹ 90/share.
(ii) Avian Ltd. forfeited 10,000 shares of ₹ 10 each. First call of ₹ 4 not received, second and final call of ₹ 1 not yet called. 4,000 shares reissued to Ajay at ₹ 9 fully paid.- CBSE CLASS XII - 2025
- Accountancy
- Accounting for Share Capital
- Jeeta Ltd. forfeited 300 shares of \(₹100\) each for the non-payment of final call of \(₹10\) per share. The amount credited to share forfeiture account will be :
- CBSE CLASS XII - 2025
- Accountancy
- Accounting for Share Capital
- VL Ltd. offered for public subscription 90,000 equity shares of ₹ 10 each at a premium of 10%. The entire amount was payable on application. Applications were received for 1,00,000 shares and allotment was made to all the applicants on pro-rata basis. The amount received on application was___.
- CBSE CLASS XII - 2025
- Accountancy
- Accounting for Share Capital
View More Questions
Questions Asked in CBSE CLASS XII exam
- VX Ltd. issued 30,000, 8% debentures of ₹ 100 each at a discount of 10% redeemable at a certain rate of premium. On issue of these debentures, ‘Loss on issue of debentures account’ was debited with ₹ 4,50,000. The amount of premium on redemption of debentures was___.
- CBSE CLASS XII - 2025
- Debentures
- Student to attempt either option (A) or (B):
(A) Write two features of an ideal contraceptive. Explain any one natural contraceptive method that makes the chances of conception almost nil.
(B) Explain GIFT and ICSI.- CBSE CLASS XII - 2025
- Human Reproduction
- Why are restrictions imposed on MTP in India? Up to how many weeks or trimesters, is MTP considered relatively safe for a female, if necessary to perform, by a medical practitioner?
- CBSE CLASS XII - 2025
- Ecosystem
- Write the anode and cathode reactions and the overall cell reaction occurring in a lead storage battery during its use.
- CBSE CLASS XII - 2025
- Coordination Compounds
- Surface area of a balloon (spherical), when air is blown into it, increases at a rate of 5 mm²/s. When the radius of the balloon is 8 mm, find the rate at which the volume of the balloon is increasing.
View More Questions