1.

Jk Ltd invited applications for issuing 50,000 equity shares of ₹10 each at par. The amount was payable as follows:On Application: ₹2 per shareON Allotment: ₹4 per shareOn First and Final Call: Balance amount The issue was oversubscribed three times. Applications for 30% shares were rejected and money was refunded. Allotment was made to the remaining applicants as follows:Category I Applicants for 80,000 allotted 40,000 Category II Applicants for 25,000 allotted 10,000Excess application paid by the applicants who were allotted shares adjusted towards the sums due on allotment.Deepak a shareholder belonging to category I who had applied for 1,000 shares failed to pay the allotment money. Raju a shareholder holding 100 shares also failed to pay the allotment money, belonged to the category II. Shares of both were forfeited immediately after allotment.Afterwards, First and final call was made and was duly received. The forfeited shares of Deepak and Raju were reissued at ₹11 per share fully paid up.1. How many shares applied by public were rejected? (A) 50000 (B) 45000 (C) 55000 (D) 1000002. What is the amount unpaid by Deepak on allotment? (A)₹2000 (B)₹4,000 (C)₹500 (D)₹1,0003. Number of shares applied by Raju was- (A) 210 (B) 250(C) 300 (D) 1504. The total amount received on allotment was- (A)₹2,00,000 (B)₹90,000 (C) ₹88,900 (D) ₹85,600

Answer»

1. (B) 45000

2. (D) ₹1,000

3. (B) 250

4. (C) ₹88,900



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