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Y Ltd. made pro rata allotment …

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Y Ltd. made pro rata allotment of shares of Rs. 10 each in the ratio of 3:2. Gopi failed to pay both the calls.2/3 of his forfeited shares were reissued for Rs. 2200 with discount of Rs. 1200 as fully paid up for how many share Gopi must have applied.

Posted by Atul Dubey 6 years, 1 month ago

CBSE > Class 12 > Accountancy

1 answers

Mayank Garg 6 years, 1 month ago

765 Shares were applied. Reason: First of all pass its journal whic is as follow Bank a/c. Dr 2,200 Share forefeiture a/c. Dr. 1,200 To Share Capital a/c. 3,400 ₹3,400 must be the Face Value of Reissued share and each share is of ₹10. That means number of shares is ₹3,400/₹10 = 340 Shares Now 340 shares are 2/3 of total shares. Which means total number of shares = (340×3)/2= 510 Shares Ratio of Applied and Alloted Shares is 3:2 Applications. Allotment 3. ->. 2 x. ->. 510 Applied Shares = (510/2)*3 = 765 Shares.

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