Question

X Ltd forfeited 500 shares of rs .10 each fully called up for non payment of final call of rs .3
per share .300 of these share were issued as fully paid up and after reissue the amount transferred to capital reserve was rs 1800 .what is rescue price


please answer me quickly please very urgent ​

Answer 1

Answer:

capital reserve = balance in forfeiture - loss on reissue

1800 = (300×7) 2100 - loss on reissue

loss = (2100- 1800) = 300

loss per share = 300/300 = ₹1 per share

reissue price = face value - loss

= ₹10 - ₹1

= ₹9

Answer 2

Answer:

Capital reserve= forfeited amount on reissue share- loss on reissue share

1800=2100-loss

loss=2100-1800

loss=Rs.300

Loss per share= $\frac{300}{300}$

                        = Rs. 1

Reissue price=face value - loss

                      = 10-1

                      = Rs.9

Explanation: Calculation of forfeited amount on reissue share is

Amount of forfeiture on 500 shares are Rs.3500

Amount of forfeiture on 300 shares are Rs.$\frac{3500}{500}$×300

                                                                    = Rs. 2100

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