25. Faltu Limited invited application for 2,00,000 shares of Rs.10 each. These *shares were issued at premium of Rs. 11 each which was allowed at the time of allotment. All money was called and duly received except on 10,000 shares on which only application money of Rs. 3 per share was received. The company forfeited all the shares. 7,000 of forfeited share were re-issued at Rs 13 per share. State the amount of securities premium to be shown under the head 'Reserve and Surplus.
Answers
Answered by
1
Answer:
251000 security premium reserve
Explanation:
200000 Security Premium given @ ₹ 10
for re-issue 7000 shares @ ₹ 3 is 21000 Security premium Reserve
Shares forfeited 10000 @ ₹ 3 on applicationis 30000 Capital Reserve
Similar questions