Gopalji, a Director of Gopal Agro Products Ltd. proposed in a Board me

1.	Gopalji, a Director of Gopal Agro Products Ltd. proposed in a Board meeting that to inculcate the habit of savings among people he wanted to bring a special issue of shares. His proposal was accepted by the company. The company issued 40,000 equity shares of Rs 100 each. The share money per share was payable as : On Application Rs 30 On Allotment Rs 50 On First and Final Call Rs 20 Ramesh, a farmer holding 80 shares could not pay his call money on time. Suresh, another farmer holding 50 shares, paid the call money also with allotment. Ramesh paid the amount due to him after four months explaining the reason for delay; the company did not charge any interest from him. (a) Calculate the amount received by the company on allotment. (b) Identify the value which the company is trying to communicate to the society.
Answer» Gopalji, a Director of Gopal Agro Products Ltd. proposed in a Board meeting that to inculcate the habit of savings among people he wanted to bring a special issue of shares. His proposal was accepted by the company. The company issued 40,000 equity shares of Rs 100 each. The share money per share was payable as : On Application Rs 30 On Allotment Rs 50 On First and Final Call Rs 20 Ramesh, a farmer holding 80 shares could not pay his call money on time. Suresh, another farmer holding 50 shares, paid the call money also with allotment. Ramesh paid the amount due to him after four months explaining the reason for delay; the company did not charge any interest from him. (a) Calculate the amount received by the company on allotment. (b) Identify the value which the company is trying to communicate to the society.

Gopalji, a Director of Gopal Agro Products Ltd. proposed in a Board meeting that to inculcate the habit of savings among people he wanted to bring a special issue of shares. His proposal was accepted by the company. The company issued 40,000 equity shares of Rs 100 each. The share money per share was payable as : On Application Rs 30 On Allotment Rs 50 On First and Final Call Rs 20 Ramesh, a farmer holding 80 shares could not pay his call money on time. Suresh, another farmer holding 50 shares, paid the call money also with allotment. Ramesh paid the amount due to him after four months explaining the reason for delay; the company did not charge any interest from him. (a) Calculate the amount received by the company on allotment. (b) Identify the value which the company is trying to communicate to the society.

Answer»

Gopalji, a Director of Gopal Agro Products Ltd. proposed in a Board meeting that to inculcate the habit of savings among people he wanted to bring a special issue of shares. His proposal was accepted by the company. The company issued 40,000 equity shares of Rs 100 each. The share money per share was payable as :

On Application Rs 30

On Allotment Rs 50

On First and Final Call Rs 20

Ramesh, a farmer holding 80 shares could not pay his call money on time. Suresh, another farmer holding 50 shares, paid the call money also with allotment.

Ramesh paid the amount due to him after four months explaining the reason for delay; the company did not charge any interest from him.

(a) Calculate the amount received by the company on allotment.

(b) Identify the value which the company is trying to communicate to the society.

Discussion

No Comment Found

Related InterviewSolutions

Reply to Comment