Question

13. Z Ltd. forfeited 450 shares of 100 each issued at a premium of 20 on which final call
of 40 each is not paid. What is the minimum amount for which 300 of these shares
can be reissued?
(a) * 12,000
(b) 15,000
C 18000
(d) None of these​

Answer 1

Answer:

refer the attachment

Thank you

Answer 2

Value per share not received = Rs.40

Received Par Value of forfeited Shares = Rs.100 - Rs.40 = Rs.60

Number of forfeited shares = 450

Number of Shares re-issued = Rs.300

So these shares can be re-issued at a discount of Rs. 60 since that value is already received on the original issue

Minimum Share price = Rs.100 – Rs.60 = Rs.40

Total Minimum Re-issue value = 300 x Rs.40

= Rs.12,000

So option (a) 12,000 is the correct answer