A Ltd. forfeited 50 shares of Rs 100 each issued at 10% premium on which allotment...
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A 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 90 per share, the Profit on re- issue is A B C D E FL Rs 1,500, Rs 1,300, Rs 900, Rs 600, Rs 400, None of these A 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 90 per share, the Profit on re- issue is A B C D E FL Rs 1,500, Rs 1,300, Rs 900, Rs 600, Rs 400, None of these
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Correct option is D Forfeiture amount per share is the amount to be received ... View the full answer
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