Question

2,000 shares of rupees 10 on which R$ 7
has been called and Rs. 5 has been paid are
forfeited out of these 1500 shares are issued
for Rs. 9 as fully paid what is the amount
to be transferred to Capital Reserve account
(a)6000
(b)Rs. 7500
(c) Rs 10000
(d) Rs. 8500​

Answer 1

Answer:

amount received onshares= 2000×5 =10000

loss on reissue of shares = 1500×1 =1500

profit on 2000 shares = 10000

profit on 1500 shared = 10000/2000×1500

= 7500- 1500(loss on issue of share)

=6000 amount transfer to capital reserve