Question

33. Aladdin Co. Ltd issued 80,000 shares of 310 each payable 3 on Application, *5 on allotment and balance on call. Public had applied for 75,000 shares and all the calls were made. All the money has been duly received except allotment and call money on 6,000 shares held by Gaurav. His shares were forfeited and later on re-issued 4,000 shares @ 212 per share as fully paid up. Amount transferred to Capital Reserve is: (A) 18,000 (B) 12,000 (C) 20,000 (D) 6,000

please explain this one.​

Answer 1

Answer:

b

Explanation:

amt received on forfeiture = 18000

shares reissued on premium so no discount

amt received on 4000 shares= 12000

so amt transferred to capital reserve =12000