X Ltd. forfeited 700 shares of Rs. 10 each (9 called up) on which he paid up 7 per share. Out of these 200 shares were re-issued at Rs. 9. Calculate the amount credited to Share Capital A/c at time of re-issued?

6,300

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4,300

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1,800

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2,000

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Solution

The correct option is D 2,000
200 shares were re- issued at Rs.9 ( 200 x 9 = 1800)
securities premium of shares 200
so as 1800 +200 = 2,000
shre capital A/c cr 2,000.

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X Ltd. forfeited 700 shares of Rs. 10 each (9 called up) on which he paid up 7 per share. Out of these 200 shares were re-issued at Rs. 9. Calculate the amount credited to Share Capital A/c at time of re-issued?

The correct option is D 2,000200 shares were re- issued at Rs.9 ( 200 x 9 = 1800)securities premium of shares 200 so as 1800 +200 = 2,000 shre capital A/c cr 2,000.

The correct option is D 2,000
200 shares were re- issued at Rs.9 ( 200 x 9 = 1800)
securities premium of shares 200
so as 1800 +200 = 2,000
shre capital A/c cr 2,000.