Forfeiture amount per share = 3 (only application received). For 400 reissued shares, forfeited balance = 400 * 3 = 1,200. Discount on reissue = (10 - 9) * 400 = 400. Gain transferred to Capital Reserve = 1,200 - 400 = 800.
MNO Ltd. forfeited 1,000 shares of Rs. 10 each on which shareholders had paid only application money of Rs. 3 per share. Out of these, 400 equity…
CUET UG 2022 — Accountancy Company Accounts
2022mcqmedium
MNO Ltd. forfeited 1,000 shares of Rs. 10 each on which shareholders had paid only application money of Rs. 3 per share. Out of these, 400 equity shares were reissued as fully paid for Rs. 9 per share. The gain on reissue of shares transferred to Capital reserve is :
Official previous-year question
Held on 20 Jul 2022 · Verified 13 Jul 2026.
Options
- A
Rs. 3,000
- B
Rs. 800
- C
Rs. 1,200
- D
Rs. 1,000
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