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Taxman Ltd had allotted 40,000 equity shares to the applicant of 48,000 shares on pro rata basis. The amount payable on application is Rs. 4. Manorama applied for 450 shares. The number of shares allotted and the amount carried forward for adjustment against allotment money due from her are:

Solution

✅ Correct Option: 3

Pro rata ratio =40,000:48,000=5:6= 40,000 : 48,000 = 5 : 6.

Shares allotted to Manorama =450×56=375= 450 \times \frac{5}{6} = 375.

Excess shares applied =450−375=75= 450 - 375 = 75.

Excess application money carried forward =75×4=300= 75 \times 4 = 300.

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