Problem 55 A co. Ltd. has Authorised Capital of divided into Equity I Shares of 50 each. The Company issued for subscription $50,000 Shares at a premium of $10 each. The entire issue was underwritten as follows : X 30,000 Shares (Firm underwriting 5,000 Shares) Y 15,000 Shares (Firm underwriting -2,000 Shares) Z 5,000 Shares (Firm underwriting 1,000 Shares) Out of the total issue 45,000 Shares including firm underwriting were subscribed. Following were the marked forms : X 16,000 Shares : Y Y 10,000 Shares : Z 4,000 Shares. Calculate the liability of each underwriter assuming (a) shares underwritten are treated as marked application. (b) Shares underwritten are treated as unmarked applications