solution of qwes no 115 of ts grewal....(share capital)

varun ltd issues 40000 eq sh. at rs 50each at a disocunt of 10% payable as follows

on application and allotment: 15rs( 2rs discount), on first and final call : 30 ( rs 3 discount)

app were received for 75000 sh. allotment are as follows

1- app for 7500 sh- allotedd nil

2-allotment of 4/5th sahres applied for 20000sh

3- allotment of 1/4th sahres applied for 7500sh

4- allotment in full- 12500

excess app money received from the appicants, to whom pro-rata allotment was made.