Question

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​

Answer 1

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)

Answer 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