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Accountancy · 2024 · 1 mark
CBSE 2024 · Region 5 · Set 1 · Q13
Sarita Ltd. forfeited 100 shares of ₹ 10 each, ₹ 8 called up issued at a premium of ₹ 2 per share to Ramesh for non-payment of allotment money of ₹ 5…
Sarita Ltd. forfeited $\displaystyle 100$ shares of ₹ $\displaystyle 10$ each, ₹ $\displaystyle 8$ called up issued at a premium of ₹ $\displaystyle 2$ per share to Ramesh for non-payment of allotment money of ₹ $\displaystyle 5$ per share (including premium). The first and final call of ₹ $\displaystyle 2$ per share was not made. Out of these $\displaystyle 70$ shares were reissued to Ashok as ₹ $\displaystyle 8$ called up for ₹ $\displaystyle 10$ per share. The gain on reissue will be :
Official answer
(C)
₹ $\displaystyle 350$
Marking-scheme solution
(C)
₹$\displaystyle 350$
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CBSE Class 12 Accountancy past-paper question from the 2024 board exam, with the answer as CBSE’s own marking scheme gives it. Where our answers come from.