Accountancy, asked by blessonshubhroy4452, 19 days ago

Moti Ltd. Forfeited 2,000 shares of 10 each, 8 called up, for non-payment of first all of 2 per share. Out of these, 1,500 shares were reissued for 10,500 as 8 paid up. What is the amount to be transferred to capital reserve?

Answers

Answered by dpschoolgwalior

Answer:4500

Explanation: Cr. side of share forfeiture x Reissued shares/Total issued shares - Dr. side of share forfeiture

Applying the formula in this case,

12000 x (1500/2000) - 4500 = 4500

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Moti Ltd. Forfeited 2,000 shares of 10 each, 8 called up, for non-payment of first all of 2 per share. Out of these, 1,500 shares were reissued for 10,500 as 8 paid up. What is the amount to be transferred to capital reserve?​

Answers

Moti Ltd. Forfeited 2,000 shares of 10 each, 8 called up, for non-payment of first all of 2 per share. Out of these, 1,500 shares were reissued for 10,500 as 8 paid up. What is the amount to be transferred to capital reserve?