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Accountancy · 2024 · 1 mark
CBSE 2024 · Region 1 · Set 3 · Q13
A share of ₹ 100 on which ₹ 80 is received is forfeited for non-payment of final call of ₹ 20. The minimum price at which this share can be reissued…
A share of ₹ $\displaystyle 100$ on which ₹ $\displaystyle 80$ is received is forfeited for non-payment of final call of ₹ 20. The minimum price at which this share can be reissued is :
Shiv Ltd. forfeited $\displaystyle 500$ shares of ₹ $\displaystyle 10$ each on which ₹ $\displaystyle 7$ per share was paid. These shares were reissued for ₹ $\displaystyle 9$ per share fully paid. Amount transferred to Capital Reserve Account will be :
Official answer
(a) → (D)
(b) → (A)
Marking-scheme solution
(D)
₹$\displaystyle 20$
OR
(b)
Shiv Ltd. forfeited $\displaystyle 500$ shares of $\displaystyle 10$ each….
Ans. (A) ₹$\displaystyle 3{,}000$
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