Practicing Success
Practicing Success
CUET Preparation Today
A ltd forfeited 100 shares of 10 Rs. each for non-payment of final call of 3 Rs. per share. All the forfeited shares were re-issued at 9 Rs. per share. What amount will be transferred to Capital Reserve A/c ? |
₹1000 ₹600 ₹700 ₹900 |
₹600 |
Amount Forfeited = 100*7=700 Loss on Reissue=100*1=100 Thus, Profit on reissue= 700-100=600 |
