Question

0:26. Alfa Ltd. issued 5,000 shares of 100 each at par. The amount payable was25 on application;25 on allotment;20 on first call; and30 on final callThe company did not make final call. X, a holder of 100 shares, failed to payallotment and first call money. Directors forfeited his shares and immediately and reissued the forfeited shares at Rs6500​

Answer 1

$Rs7000$ is the amount of the forfeited shares were reissued for shares at$Rs6500$ .

Step-by-step explanation:

5000 shares of 100 each at participants,

The Amount Payable for the application $=25$

Total Application Shares amount$\[=25\times 5000=125000\]$

The allotment Share amount$\[=25\times 5000=125000\]$

The first call Share amount$\[=20\times 5000=100000\]$

A holder of 100 shares, failed to pay allotment $5000-100=4900$

$\[=25\times 4900=122500\]$

A holder of 100 shares, failed to first call money$\[=20\times 4900=98000\]$

100forfeited shares were re-issued the forfeited shares at $Rs6500$ ,

$\[ & =100(25+25+20) \\ \\ & =100\times 70 \\ \\ & =7000 \\ \end{align}\]$

Hence Forfeited shares were re-issued the shares at $Rs6500$  is $Rs7000$ .