Sumona Ltd. re-issued 3,000 shares of ₹10 each which were forfeited by crediting share forfeiture account by ₹4,500. These shares were re-issued at ₹9 per share. The amount transferred to capital reserve will be:

[0.88 marks]

₹4,500

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₹3,000

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₹1,000

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₹1,500

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Solution

The correct option is D ₹1,500
$Capital Reserve = ₹ 4, 500 - (3, 000 \times ₹ 1)$
$= ₹ 1, 500$

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[0.88 marks]

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Sumona Ltd. re-issued 3,000 shares of ₹10 each which were forfeited by crediting share forfeiture account by ₹4,500. These shares were re-issued at ₹9 per share. The amount transferred to capital reserve will be: [0.88 marks]

The correct option is D ₹1,500Capital Reserve =₹4,500−(3,000×₹1) =₹1,500

Sumona Ltd. re-issued 3,000 shares of ₹10 each which were forfeited by crediting share forfeiture account by ₹4,500. These shares were re-issued at ₹9 per share. The amount transferred to capital reserve will be:

[0.88 marks]

The correct option is D ₹1,500
$Capital Reserve = ₹ 4, 500 - (3, 000 \times ₹ 1)$
$= ₹ 1, 500$