Maximum discount allowable on reissue is limited to the forfeited amount per share, i.e., Rs. 45. Therefore minimum reissue price = Face Value - Maximum Discount = 100 - 45 = 55.
CUET UG 2022 — Accountancy Company Accounts
If a share of Rs. 100 on which Rs. 45 has been paid is forfeited at what minimum price can it be reissued :
Held on 20 Jul 2022 · Verified 13 Jul 2026.
Rs. 75
Rs. 45
Rs. 55
Rs. 100
Sign in to track your attempts and accuracy.
Sign in to keep a private note on this question. Nothing you write is ever public.
According to Sec 2 (62) of Companies Act, 2013,the maximum amount of paidup share capital of an OPC is:
Arrange the following in correct order for issue of shares- (A) Share forfeiture (B) Share Application (C) Share Allotment (D) Unpaid Call Choose the correct answer from the options given below: 1. (B), (A), (C), (D) 2. (B), (C), (D), (A) 3. (B), (A), (D), (C) 4. (C), (B), (D), (A)
A debenture which is transferable merely by delivery is:
Which statements are correct about capital reserve:- (A) It is necessary to create capital reserves out of capital profits, if any. (B) It cannot be used to issue bonus shares. (C) It can be used to write off capital losses or to issue bonus shares any time during the lifetime of the company. (D) It is not shown on the company balance sheet. Choose the correct answer from the options given below:
What is the amount of Profit on reissue of Forfeited Shares Accounts transferred to capital reserve?
Work through every CUET UG Company Accounts PYQ, year by year.