Home › Bihar Board Class 12 (Commerce) › Accountancy › Accounting for Share Capital › 200 shares of Rs. 100 forfeited for unpaid final…
200 shares of Rs. 100 forfeited for unpaid final call of Rs. 30; 150 reissued at Rs. 60 as fully paid. Capital reserve?
ARs. 4,500
BRs. 6,000
CRs. 10,500
DRs. 14,000
Answer & Solution
Correct answer: A. Rs. 4,500
Paid up was Rs. 70 per share and discount on reissue Rs. 40, so 150 x 30 = Rs. 4,500 remains.
Related questions
If only some forfeited shares are reissued, capital reserve getsProfit on reissue of forfeited shares is finally transferred toOn forfeiture, the amount already paid on the shares is credited toIf the articles are silent, interest on calls in arrears can be charged at most atApart from sweat equity, a company can ordinarily issue shares at a discount only onRs. 5,40,000 is raised by issuing Rs. 100 shares at 20% premium. How many shares?When shares are issued at a premium, the premium is credited toWhich entry records receipt of application money?