a company forfeited 4,000 shares of'10 each on which application money of 3 has beenpaid. out of these 2,000 shares were reissued as fully paid up and 4000 has been transfered to capital reserve. calculate the rate at which these share were reissued ? pls explaain too
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Answer:
₹3 has been received on these share
share forfeiture balance is 4000×3=12000
share reissued 2000
profit on 4000share 12000
profit on 2000 share 12000/4000×2000
= 6000
(-) amount transferred to capital reserve 4000
loss on reissue (6000-4000)=2000
face value of reissued share =20000
(-) loss on reissue = 2000
issue price =18000
issue price per share =18000/2000
=₹9 per share
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