Meena Ltd. issued 30,000 shares of Rs. 10 each at a premium of Rs. 2 per share payable as Rs
Channel: Doubtnut
Date: 2020-04-26

Meena Ltd. issued 30,000 shares of Rs. 10 each at a premium of Rs. 2 per share payable as Rs. 3 on application, Rs. 5 (including premium) on allotment and the balance on first and final call. Applications were received for 52,000 shares. The directors resolved to allot as follows :  `{:((A),"Applicants of 20,000 shares","10,000 shares"),((B),"Applicants of 30,000 shares","20,000 shares"),((C ),"Applicants of 2,000 shares","Nil"):}`  Balu who had applied for 4,000 shares in category A and Ganesh who was allotted 2,000 shares in category B failed to pay the allotment money. Calculate the amount received on allotment.