Question

7.
The Directors of Unim Ltd. forfeited 30,000 shares of 7 10 each, for
non-payment of final call of * 3 per share. Half of the forfeited shares
were reissued as fully paid-up for 12 per share. The amount to be
transferred to the Capital Reserve Account will be :
(A) 2,70,000
(B) 2,10,000
(C) 1,05,000
(D) * 1,80,000​

Answer 1

The Directors of Unim Ltd. forfeited 30,000 shares of 7 10 each, for

non-payment of final call of * 3 per share. Half of the forfeited shares

were reissued as fully paid-up for 12 per share. The amount to be

transferred to the Capital Reserve Account will be :

(A) 2,70,000

(B) 2,10,000

(C) 1,05,000

(D) * 1,80,000​

Explanation:

The forfeited shares were 30,000

Half of 30,000 will be

30,000/2 = 15,000

Half of the forfeited shares  were reissued as fully paid-up for 12 per share.

15,000*12 = 180,000

The amount to be  transferred to the Capital Reserve Account will be :

The correct answer is (D)  180,000​

Answer 2

Answer:

1,80,000

Explanation:

Half of 30,000/2=15,000

15,00×12=1, 80,000