Y Ltd. forfeited 300 shares of Rs.10/- each for non-payment of allotment money of Rs.4/- first call and second call of Rs.2/- each. All the shares were re-issued @ Rs.10 paid up. Calculate the amount transferred to capital reserve.

800

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900

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1,800

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600

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Solution

The correct option is D 600
b'300 shares of Rs. 10 each & for non - payment of allotment money of Rs. 4 [300 x 4 = 1200]
first & final call of Rs. 2 [ 300 x 2 = 600 ]
capital reserve = 1200 - 600 = 600.
'

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Q. Alok Ltd. forfeited 300 shares of Rs 10 each, fully called up, held by Ram for non payment of allotment money of Rs 3 per share and final call money of Rs 4 per share. Out of these shares 250 were re-issued to Shyam for a total payment of Rs 2,000. The Profit on re-issue is-

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Y Ltd. forfeited 300 shares of Rs.10/- each for non-payment of allotment money of Rs.4/- first call and second call of Rs.2/- each. All the shares were re-issued @ Rs.10 paid up. Calculate the amount transferred to capital reserve.

The correct option is D 600b'300 shares of Rs. 10 each & for non - payment of allotment money of Rs. 4 [300 x 4 = 1200]first & final call of Rs. 2 [ 300 x 2 = 600 ] capital reserve = 1200 - 600 = 600.'

The correct option is D 600
b'300 shares of Rs. 10 each & for non - payment of allotment money of Rs. 4 [300 x 4 = 1200]
first & final call of Rs. 2 [ 300 x 2 = 600 ]
capital reserve = 1200 - 600 = 600.
'