AH Ltd. forfeited 500 shares of Rs 10 each on which first call of Rs 3...

 

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AH Ltd. forfeited 500 shares of Rs 10 each on which first call of Rs 3 per share was not received, the second and final call of Rs 2 per share has not yet been called. Out of these 125 shares were re-issued to I as Rs 8 paid-up for Rs 7 per share. The Profit on re-issue is A B C D Rs 2,500, Rs 2,375, Rs 500, None of these AH Ltd. forfeited 500 shares of Rs 10 each on which first call of Rs 3 per share was not received, the second and final call of Rs 2 per share has not yet been called. Out of these 125 shares were re-issued to I as Rs 8 paid-up for Rs 7 per share. The Profit on re-issue is A B C D Rs 2,500, Rs 2,375, Rs 500, None of these

Answer rating: 100% (QA)

Correct option is C Forfeiture amount per share is the amount to be received by th... View the full answer