A person who is allotted shares or who buys shares is called a _______ of the company.

The person who subscribes in shares is called a _______.

Allotment Of Shares

Allotment Of Shares

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.

X LTd. offered 25,000 shares of Rs. 100 each payable as Rs. 25 on application, Rs. 20 on allotment, Rs. 30 on first call and the balance on final call. Applications were received for 40,000 shares out of which shares were allotted to the applicats for 35,000 shares on a pro-rata basis. All shareholders paid the allotment money excepting Mr. Gopal who was allotted 500 shares. These shares were forfeited immediately. The first call was made thereafter. The forfeited shares were re-issued @ Rs. 8 per share Rs. 75 paid up. The final call was not made. Prepare CAsh Book and pass journal entries.

(Forfeiture of Shares Allotted on Pro rata). A company issued 10,000 shares of Rs.10 each payable as Rs. 2 on application, Rs. 3 on allotment, Rs. 3 on first call and Rs. 2 on second and final call. Applications were received for 15,000 shares. The shares were allotted on a pro rata basis to the applicants of 12,000 shares. All shareholders paid the allotment money except one shareholder who was allotted 200 shares. These shares were forfeited. The first call was made thereafter. The forfeited shares were reissued @ Rs. 9 per share as Rs. 8 paid-up after first call. The second and final call was not yet made. You are required to prepare Cash Book and pass Journal entries.

Telecom Ltd.' issued 20,000 Equity Shares of Rs. 10 each at a premium of Rs. 5 per share, payable as: Rs. 7 (including premium ) on application, Rs. 5 on allotment and the balance after three months of allotment. A shareholder to whom 200 shares were allotted failed to pay the allotment and call money and his shares were forfeited. 160 of the forfeited shares were reissued for Rs. 1 1,600. Give necessary entries in company's Journal and the Balance Sheet.

A member , who held all shares except one share of a timber company , insured the company's timber in his own name . Can he claim compensation from the insurance company ?