4 Y Ltd, forfeited 100 shares of Rs 100 each issued at 20% premium (to be...

 

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4 Y Ltd, forfeited 100 shares of Rs 100 each issued at 20% premium (to be paid at the time of allotment) for non-payment of a first call of Rs 30 per share and a second & final call of Rs 20 per share. Out of these 40 shares were re-issued as fully paid-up for Rs 90 per share. The profit on re-issue is A B C D Rs 7,000 Rs 5,000 Rs 1,600 None of these 4 Y Ltd, forfeited 100 shares of Rs 100 each issued at 20% premium (to be paid at the time of allotment) for non-payment of a first call of Rs 30 per share and a second & final call of Rs 20 per share. Out of these 40 shares were re-issued as fully paid-up for Rs 90 per share. The profit on re-issue is A B C D Rs 7,000 Rs 5,000 Rs 1,600 None of these

Answer rating: 100% (QA)

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