#pro rata basis

If applicants for 80,000 shares were allotted 60,000 shares on pro rata basis, the shareholder who was allotted 1,200 sh

1,600 shares company accounts correct; share issue forfeiture pro-rata per Companies Act.

Ref: NCERT Accountancy Class XII Chapter 6 Company Accounts explains company formation share capital issue accounting treatment Companies Act 2013 provisions.