Share Issue Problems
10 Questions
0 Views

Share Issue Problems

Created by
@HumourousMagicRealism

Podcast

Play an AI-generated podcast conversation about this lesson

Questions and Answers

What was the total amount payable on the first call for 10,000 equity shares of Rs 10 each issued by Akshat Co. Ltd?

Rs 30,000

How much application money was received for Bandekar Industries Co. Ltd?

Rs 1,500,000

What is the total amount payable on the allotment for Manish and Co. Ltd's shares?

Rs 600,000

What was the total amount received on the second call for Aniket Ltd?

<p>Rs 800,000</p> Signup and view all the answers

What was the total application money received by Modern Chemicals Co. Ltd for 65,000 shares?

<p>Rs 325,000</p> Signup and view all the answers

What was the amount adjusted against allotment in Mahalaxmi Industries Ltd?

<p>Rs 300,000</p> Signup and view all the answers

What was the total amount payable on the final call for Joshi - Patil Ltd?

<p>Rs 5,000</p> Signup and view all the answers

How much was received for the first call in Yogeshwari Co. Ltd?

<p>Rs 60,000</p> Signup and view all the answers

What was the total application money received by Khandelwal Co. Ltd?

<p>Rs 225,000</p> Signup and view all the answers

What issue expenses did Milind and Co. Ltd incur?

<p>Rs 5,000</p> Signup and view all the answers

Study Notes

Share Issue Problems

  • Akshat Co. Ltd. issued 10,000 equity shares of Rs 10 each. Application: Rs 2, Allotment: Rs 4, First call: Rs 3, and Second/Final call: Rs 1. Received applications for 15,000 shares; 5,000 rejected; full payment received.

  • Bandekar Industries issued 60,000 equity shares of Rs 100 each. Application: Rs 20, Allotment: Rs 30, First call: Rs 25, and Second/Final call: Rs 25. Received applications for 75,000 shares and full payment; excess applied funds adjusted against allotment.

  • Manish and Co. Ltd. issued 40,000 equity shares of Rs 20 each, with a Rs 5 premium. Application: Rs 5, Allotment (including premium): Rs 15, First call: Rs 3, and Second/Final call: Rs 2. Received applications for 50,000 shares; 10,000 rejected, with funds refunded.

  • Aniket Ltd. issued 40,000 shares of Rs 100 each, with a Rs 10 premium. Application: Rs 20, Allotment (including premium): Rs 40, First call: Rs 30, and Second call: Rs 20. Received applications for 50,000 shares—excess application monies adjusted against allotment.

  • Modern Chemicals Co. Ltd. issued 60,000 shares of Rs 20 each. Application: Rs 5, Allotment: Rs 5, First call: Rs 4, and Second call: Rs 3. Received applications for 65,000 shares—5,000 rejected; adjusted against allotment.

  • Mahalaxmi Industries issued 15,000 shares of Rs 100 each. Application: Rs 20, Allotment: Rs 30, First call: Rs 25, and Second call: Rs 25. All application were accepted & fully allotted; excess application funds are refunded

  • Joshi-Patil Ltd. issued 2,000, 10% preference shares of Rs 100 each. Application : Rs 20, Allotment Rs 40 & Final call. 2,000 shares allotted, 500 shares rejected and refunds made.

  • Yogeshwari Co. Ltd. issued 20,000 equity shares of Rs 20 each. Application: Rs 5, Allotment: Rs 10, First call: Rs 3, and Second/Final call: Rs 2. Received applications for 25,000 shares; 5,000 rejected; excess application adjusted against allotment.

  • Khandelwal Co. Ltd. issued 40,000 equity shares of Rs 20 each, at a discount. Application: Rs 5, Allotment: Rs 8, First call: Rs 3, and Second/Final call: Rs 2. Applications for 45,000 shares; 5,000 rejected and funds refunded.

  • Milind and Co. Ltd. issued 20,000 equity shares of Rs 100 each, at a discount of Rs 5. Application: Rs 20, Allotment: Rs 3, First call: Rs 25, and Second call: Rs 20. 30,000 applications; 10,000 rejected & adjusted against allotment; full payment received. Issue expenses totalled Rs 5000.

Journal Entries

  • Instructions indicate to pass necessary journal entries. Specific journal entry details are not provided.

Studying That Suits You

Use AI to generate personalized quizzes and flashcards to suit your learning preferences.

Quiz Team

Related Documents

Issue of Share Past Paper PDF

Description

This quiz focuses on share issue problems related to equity shares issued by various companies. You'll analyze the application processes, allotment amounts, calls, and excess applications across different scenarios. Test your understanding of how share issues work.

More Like This

Rights Issue of Shares Quiz
5 questions
Issue of Shares in Class XII Accounts
10 questions
Equity Share Issue and Income Tax Provisions
5 questions
Use Quizgecko on...
Browser
Browser