Question

A company forfeited 100 shares of Rs.10 each, wherein rs.5 was not received. 60 shares out of these were re-issue at rs.6 per share fully paid up. what will be the amount to be transferred to the capital reserve account?

(a) rs.40
(b) rs. 50
(c) rs. 60
(d) rs. 100

guys good morning have a great day today is my class test ​

Answer 1

Answer:

c) 60/-

Explanation:

First 100 shares of Rs.10 each: 100*10=1000/-

Rs.5 not received,

So Not Received Amount=5*100

60 shares reissued at 6 Rs: (6-5)*60=60/-

This 60 Rupees will be transferred to the Capital Reserve Account

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