Joy Ltd issued 100000 equity shares of Rs.10 each. The amount was payable as follows: On application - Rs.3/share, On allotment – Rs.4, On first call the balance. Application for 95000 shares were received and shares were allotted to all the applicants. Soni to whom 500 shares were allotted failed to pay allotment money and Christo paid his entire amount due including the amount die on first and final call on the 750 shares allotted to him along with the allotment. The amount received on allotment was: 380000 378000 380250 O 378250

Joy Ltd issued 100000 equity shares of Rs.10 each. The amount was payable as follows: On application - Rs.3/share, On allotment – Rs.4, On first call the balance. Application for 95000 shares were received and shares were allotted to all the applicants. Soni to whom 500 shares were allotted failed to pay allotment money and Christo paid his entire amount due including the amount die on first and final call on the 750 shares allotted to him along with the allotment. The amount received on allotment was: 380000 378000 380250 O 378250

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Concept explainers

Stockholder's Equity

The stockholders’ equity (often referred to as the book value of the company) is the number of assets available to the stockholder after its entire liabilities is paid off. The stockholders’ equity is also sometimes referred to as owner's equity. The stockholders’ equity or book value generally includes common stock, treasury stock retained earnings. It is an indicator of a company's financial strength and is an important item on the company's balance sheet.

Question

Joy Ltd issued 100000 equity shares of Rs.10 each. The amount was payable as follows: On application - Rs.3/share, On
allotment – Rs.4, On first call the balance. Application for 95000 shares were received and shares were allotted to all the
applicants. Soni to whom 500 shares were allotted failed to pay allotment money and Christo paid his entire amount due
including the amount die on first and final call on the 750 shares allotted to him along with the allotment. The amount received
on allotment was:
380000
378000
O 380250
O 378250

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