X Ltd . Issued 15,000 shares of Rs 10 each payable as follows:
i. Application - Rs 2
ii. Allotment - Rs 3
iii. First and Final Call - Rs 5
Application received for 25,000 shares. Company decided to allot them as follows
i. 10,000 - Full
ii. 10,000 - Pro rata
iii. 5,000 - Rejected
The amount transferred to the share allotment account after receiving the application money, will be..............

10,000

Application money received - 25,000* 2 = 50,000
Share capital needed at application time = 15,000 * 2 = 30,000
Refund = 5,000*2 = 10,000
Excess money adjusted against allotment
Money adjusted on Share Allotment =  50,000 - 30,000- 10,000
                                                          = 10,000