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Working Note:
Calculation of amount received on allotment, first and final call
Shares allotted to Manu = (1,20,000/1,50,000)* 3000 = 2400 shares
Amount received on 3000 shares of Rs 2 each = Rs 6000
Amount transferred to share capital a/c = 2400*2 = Rs 4800
Excess money received on application = Rs 1200
Amount due on allotment @ Rs 5 each = 12000 i.e. (7200+4800)
Amount not received on securities premium= 4,800
Amount not received on allotment = Rs 6000 i.e. (7200-1200)
Amount not received on first and final call = 12000 i.e. (2400*5)

Calculation of amount not received from Madhur:
Amount not received on first and final call = 12000 i.e. (2400*5)

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Working Note:
Calculation of amount received on allotment, first and final call
Shares allotted to Manu = (1,20,000/1,50,000)* 3000 = 2400 shares
Amount received on 3000 shares of Rs 2 each = Rs 6000
Amount transferred to share capital a/c = 2400*2 = Rs 4800
Excess money received on application = Rs 1200
Amount due on allotment @ Rs 5 each = 12000 i.e. (7200+4800)
Amount not received on securities premium= 4,800
Amount not received on allotment = Rs 6000 i.e. (7200-1200)
Amount not received on first and final call = 12000 i.e. (2400*5)

Calculation of amount not received from Madhur:
Amount not received on first and final call = 12000 i.e. (2400*5)

Q16 P1 Page -

Answer







Working Note:
Calculation of amount received on allotment, first and final call
Shares allotted to Manu = (1,20,000/1,50,000)* 3000 = 2400 shares
Amount received on 3000 shares of Rs 2 each = Rs 6000
Amount transferred to share capital a/c = 2400*2 = Rs 4800
Excess money received on application = Rs 1200
Amount due on allotment @ Rs 5 each = 12000 i.e. (7200+4800)
Amount not received on securities premium= 4,800
Amount not received on allotment = Rs 6000 i.e. (7200-1200)
Amount not received on first and final call = 12000 i.e. (2400*5)

Calculation of amount not received from Madhur:
Amount not received on first and final call = 12000 i.e. (2400*5)

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