#pro-rata allotment

E Ltd. had allotted 10,000 shares to the application of 14,000 shares on a pro-rata basis. The amount payable on the app

300 shares; Rs. 240 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.