Heroes and Villains Corporation is authorized to issue 50,000 ordinary shares at Php 75 per share

1) The highest bidder should pay Php 42900

2) Number of Share Receive by Sandra =260 shares .

Explanation

1)The sale of the delinquent stocks will include all the expenses incurred relating to the sale of the delinquent shares will be debited to Receivable from Highest Bidder account since this amount will be collected from the highest bidder together with the unpaid balance ofthe subscription

2) The sale of the delinquent subscription is issued to the highest bidder.

3) The highest bidderis the one who is willing to pay the unpaid balance of the subscription and all the expenses and any interest accrued on delinquent stock .

(1)In given case as Ethan bid for the lowest number of share but not ready to pay for the expenses will not be consider as highest bidder, hence Parvati shallow will be the highest bidder with the lower number of share as bid.

Calculation of unpaid balance =800×95×40%=30400

Adding Expenses on Advertisement =12500

Hence the Highest bidder must pay=30400+12500 =42900 in total and 79.44 per share.

2) After the subscription get fully paid the stock is first issue to the highest bidder upto the number of share they bid and the remaining share were get allotted to the defaulter

Total subscription for share receive by the defaulter was 800 - Alloted to the highest bidder 540

Remaining Share will get alloted to the defaulter ie Sandra =260 shares .