Question

. 400 shares of Rs 10, on which Rs 8 has been called and Rs 5 has been paid, are
forfeited. Out of these, 300 shares are re-issued for Rs 9 as fully paid. What is
the amount to be transferred to Capital Reserve Account?
(B) 1,600
(D) 1,700
(A) 1,200
(C) 2.000

pls provide solution also.​

Answer 1

Answer:

1,600 option (B) pl follow m

Answer 2

Answer: A) 1200

Explanation:

capital reserv on partial reissue of shaes =

( total amt forfieted x no. of shares reissued / no. of shares forfieted )- (discount on reissue)

total amt forfieted = 400 shares x 5rs paid up = 2000 rs

no. of shares reissued = 300 shares

no. of shares forfieted = 400 shares

discount on reissue = face value - issued value = 10-9 = 1rs per share

                                   = 300 x 1 = 300 rs

putting all information in formula = (2000 x 300 / 400) - (300)

                                                       = 1500 - 300 = 1200 rs