Question : Alok a shareholder of a company allotted shares to whom 5000 of Rs. 100 each, failed to pay allotment Rs. 30 per share and first & final call Rs. 30 per share. Alok had paid only application money. Pro-rata allotment proportion is 5: 6. What will be the amount of calls-in arrears on allotment, from the following:-
Option 1: Rs. 3,30,000
Option 2: Rs 2,64,000
Option 3: Rs 2,60,000
Option 4: None of these
Correct Answer: Rs 2,60,000
Solution : Answer = Rs 2,60,000
Number of shares applied = 6/5 x 5000 = 6000 applied
Call -in-arrears = 1,50,000
(5000 share x 30)
(-) Excess app. = 40,000
(1000 Share x 40)
= 1,10,000
Add call-in-arrears = 1,50,000
(5000 shares x 30)
= 2,60,000
Hence, the correct option is 3.
