Question

Determine the maximum permissible discount and minimum reissue price that a company can allow at the time of reissue for forfeited shares in the following cases

Answer 1

Explanation:

4 (that is, total money received less premium money received ), therefore, maximum permissible discount which can be allowed at the time of reissue is Rs. 4. (iii) In this case, money received on shares forfeited in respect of capital is Rs. 5, and , therefore, this is the amount of maximum permissible discount

Answer 2

Explanation:

▪️maximum permissible discount:

i). ₹5per share

ii). ₹4per share

iii). ₹5per share

▪️ maximum reissue price:

i)₹5per share

ii)₹6 per share

iii)₹5per share

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