A company has issued 15,000 shares of Rs.10 each. The amount has been demanded as under:...
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A company has issued 15,000 shares of Rs.10 each. The amount has been demanded as under: On Application - Rs.3. On Allotment - Re. 1 On 1st Call - Rs.4. On 2nd and Final Call - Rs.2. A shareholder holding 500 shares did not pay 1st and 2nd call money. His shares have been forfeited. These shares have been reissued @ Rs.9. The amount transferred to Capital Reserve is A B C D Rs. 1,000 Rs. 1, 500 Rs.3, 000 Rs.2, 000 A company has issued 15,000 shares of Rs.10 each. The amount has been demanded as under: On Application - Rs.3. On Allotment - Re. 1 On 1st Call - Rs.4. On 2nd and Final Call - Rs.2. A shareholder holding 500 shares did not pay 1st and 2nd call money. His shares have been forfeited. These shares have been reissued @ Rs.9. The amount transferred to Capital Reserve is A B C D Rs. 1,000 Rs. 1, 500 Rs.3, 000 Rs.2, 000
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Correct option is B Amount received on forfeited shares 5004Rs2000 will ... View the full answer
Related Book For
Introductory Financial Accounting for Business
ISBN: 978-1260299441
1st edition
Authors: Thomas Edmonds, Christopher Edmonds
Posted Date:
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