Question

Raja Ltd., forfeited 300 shares of ₹100 each, ₹75 called up, for non-payment of first call of ₹20 per share. All these shares were reissued for ₹…. Per share as ₹75 paid up. If amount transferred to Capital Reserve is ₹40 per share. What is the reissue price?
a)₹55 per share
b)₹45 per share
c)₹60 per share
d)₹40 per share​

Answer 1

Answer:

Amount paid on share (75-20)= 55 per share

profit per share = rs 55

It is given that amount transferred to capital reserve is rs40

So loss per share is (55-40) =rs.15 per share

Share are reissued for rs75 paid up

Reissue price is (75-15) = rs 60 oer share

option C us correct

Answer 2

"60 per share"

Explanation:

Amount paid on share (75-20)= 55 per share

Profit per share = 55

Amount transferred to Capital reserve is 40

So, Loss per share = (55-40) = 15 per share

Share are reissued for 75 paid up

Reissue price is (75-15) = 60 per share