Question

Q. 113. A Company forfeited 1,000 shares of 10 each fully called, on which ₹6,000 has been paid. Out of these 800 shares were reissued upon payment of ₹6,600 What is the amount to be transferred to Capital Reserve?
(A) 4,800 (B) 6,000 (C) 4,600 (D) 3,400​

Answer 1

$Amount \: credited \: in \: share \: fortune \: = \: ₹6000$

$Profit \: on \: 800 \: share \: is \: \frac{6000}{1000} \times 800 = 4800$

$800 \: shares \: of \: face \: value \: 8000 \: are \: issued \: for \: 400 \:$

$\therefore\:Loss\:on\:reissue\ \: 660 \:\: amount \: transferred \:\: to \: capital \: reserve$

$4800 - 600 = ₹4400$

Answer 2

Answer:

3800

Explanation:

forfeited shares 1000

of 10 rs

6000×800÷1000= 4800

4800-1000 = 3800