Question

10. If a share of Rs. 100 on which Rs. 60 has been paid, is forfeited, it can’t be re-issued at the price of:


(A) Rs. 60 (B) Rs. 30 (C) Rs. 100 (D) Rs. 110​

Answer 1

Answer:

The forfeited shares can be reissued by the company at any price. But in no case, the amount collected on reissue of share price plus the amount already forfeited be less than the amount credited as paid upon reissue of shares. For example, if a share of Rs. 10 on which Rs 6 has already been paid is forfeited and reissued as fully paid, the a minimum of Rs. 4 must be collected.

Answer 2

answer is A

100 -60 =40

the write explanation