C Ltd. forfeited 50 shares of Rs 100 each issued at 10% premium on which allotment...

 

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C Ltd. forfeited 50 shares of Rs 100 each issued at 10% premium on which allotment money of Rs 30 per share (including premium) and first call of Rs 30 per share were not received, the second & final call of Rs 20 per share was not yet called. If 20 of these shares were re-issued as Rs 80 paid-up for Rs 70 per share, the Profit on re- issue is A B C D Rs 1,500, Rs 1,300, Rs 900, Rs 400, C Ltd. forfeited 50 shares of Rs 100 each issued at 10% premium on which allotment money of Rs 30 per share (including premium) and first call of Rs 30 per share were not received, the second & final call of Rs 20 per share was not yet called. If 20 of these shares were re-issued as Rs 80 paid-up for Rs 70 per share, the Profit on re- issue is A B C D Rs 1,500, Rs 1,300, Rs 900, Rs 400,

Answer rating: 100% (QA)

Correct option is D Forfeiture amount per share is the amount to be received by the company on ... View the full answer