Question

A Ltd. Foreited a share of Rs. 100 issued at a premium of 20% for non-payment of first call of Rs. 30 per share and fianl call of Rs.10 per share. State the minimum price at which this share can be reissued.

Answer 1

Answer:

Balance Sheet as on 31.3.2018 Liabilities र Assets 2 Creditors 10,000 Cash 5,000 Bills Payable 6,000 Debtors 15,000 Bank O/D 4,000 Stock 18,000 Mrs. Sunil's Loan 5,000 Furniture 12,000 Profit & Loss A/C 8,000 Machinery Capitals: Buildings 50,000 Anil 52,000 Goodwill 10,000 20,000 Sunil 45,000 1,30,000 1,30,000 On the above date, they decided to wind up the firm.