Question

A company was registered with an authorised capital of 75,000 Equity shares of 100 each. During the year 2020-21, it issued 40,000 shares to public for subscription at par. Public applied for 35,000 shares. One shareholder to whom 1,200 shares were allotted fail to pay allotment money of Rs 30 per share and first call money of Rs 20 per share. The company did not make the final call money of Rs 10 per share. The directors decided to forfeit the above shares and out of the forfeited shares.400 shares were issued at Rs 100 per share.

what is the amount of issued capital ?
amount of share forfeiture ?
amount of share capital written under shareholders fund ?
amount transfer to capital reserve ?
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Answer 1

Answer:

40,000

75,000

35,000

Rs 20 per share

Rs 100 per share