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Accounting for shares

Accountancy

Issued capital 1 lakh and due to oversubscription the company allotted 1,10,000 on pro rata basis and. The excess money is adjusted in allotment. For calculating allotment the base no. Of shares should be 1lakh or 1,10,000. For first call money and so on... Could anyone please reply,it would be immensely helpful...

Mugilan S

CMA Inter

★ 0

02-Mar-23 18:25

260

Answers (1)

Firstly - 1,10,000 shares cannot be alloted. You can allot 1,00,000 shares to applicants of 1,10,000 shares. No of shares allotted will be 1,00,000 only.

CA Suraj Lakhotia

Admin

04-Mar-23 04:35