Dr. Share First Call A/C To Share Capital A/C (Amount due on first call) 40,000 40,000 q33 Dr. Share Final Call A/C To Share Capital A/C (Amount due on final call) 40,000 40,000 . V Ltd., issued 50,000 shares of 10 each at a premium of 10% payable as 2 per share on application, 3 on allotment (including premium) and 3 each on first and final call. Applications were received for 70,000 shares. It was decided that: a) refuse allotment to the applicants of 10,000 shares b) allot 15,000 shares to Anil who had applied for similar number and c) allot the remaining shares on pro-rata basis. Anil failed to pay the allotment money and Sunil who belonged to the category 'C' and was allotted 3,500 shares paid both the calls with allotment. Calculate the amount received on allab--ant. (C.B.S.E. 2010. Set 111) Scheme of Allotment: Anil Remaining Total 10,000 Shares 15,000 Shares 45,000 Shares 70,000 Remaining Nil 15,000 35,000 50,000 (Pro-rata) 1,50,000 Allotment Money due : 50,000 Shares x3 Less : Received in advance on application (pro-rata issue) 10,000 Shares x2 20,000 1,30,000 Less : Amount not received from Anil on allotment: 15,000 Shares x3 45,000 85,000 21,000 Add: Calls in Advance from Sunil : 3,500 Shares x 6 Amount received on allotment 1,06,000 A' Ltd. issued shares for 20,00,000 divided into shares of 10 each at a premium of 5 per share, payable as under: On Application 34 per share On Allotment 36 (including premium of 3) On First and Final Call Balance Excess application money was to be adjusted against allotment and first and final call and the money on rejected applications was to be returned. The issue was oversubscribed to the extent of 80,000 shares and the allotment was made as follows: (1) Applicants of 1,00,000 shares were allotted 30% shares, applicants for 10,000 shares were rejected and the remaining applicants were given full allotment. All the money was duly received. Give journal entries