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Accountancy · 2024 · 1 mark
CBSE 2024 · Region 5 · Set 3 · Q15
If all the forfeited shares are reissued, the balance, if any, left in the Forfeited Shares Account is transferred to :ORRaghav Ltd. forfeited $\displaystyle 100$ shares of ₹ $\displaystyle 10$ each issued at a premium of $\displaystyle 20$% for non-payment of first call of ₹ $\displaystyle 3$ per share and final call of ₹ $\displaystyle 1$ per share. The minimum price per share at which these shares can be reissued will be $\displaystyle 1$
OR
Raghav Ltd. forfeited $\displaystyle 100$ shares of ₹ $\displaystyle 10$ each issued at a premium of $\displaystyle 20$% for non-payment of first call of ₹ $\displaystyle 3$ per share and final call of ₹ $\displaystyle 1$ per share. The minimum price per share at which these shares can be reissued will be $\displaystyle 1$Official answer
From CBSE’s own marking scheme for this paper.
(a) → (C)
(b) → (A)
Marking-scheme solution
(C)
Capital Reserve Account
Q. (b) Raghav Ltd. forfeited……….
Ans. (A) ₹$\displaystyle 4$
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CBSE Class 12 Accountancy past-paper question from the 2024board exam, with the answer as CBSE’s own marking scheme gives it. Where our answers come from.