2,000 shares of Rs. 10 on which 7 have been called and Rs. 5 has been paid are forfeited. Out of these 1,500 shares are reissued for Rs. 9 as fully paid. What is the amount to be debited to Share forfeiture A/c at the time of reissue of shares
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7
Answer:
the amount debited with (1500×₹1) = 1500
called up amount = ₹7
face value = ₹10
reissue price = ₹9
it means we have not called final call , but we have also received the amount of final call with reissue hence here we considered price of ₹10 which is reissued at ₹9 (₹1 is considered as discount on reissue)
Answered by
2
Answer:
profit on 1500 shares =(1500x5) =7500
less: loss on reissue =(1500x1) = 1500
6000
Explanation:
(a) hope it helped pls like my ans
thnku regards
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