Amount forfeited = Rs. 1,600. Face value of 400 shares = 400 x 10 = 4,000. Discount on reissue = 4,000 - 3,000 = 1,000. Capital Reserve = Forfeited amount - Discount on reissue = 1,600 - 1,000 = Rs. 600.
The directors of a company forfeited 400 equity shares of Rs. 10 each fully called up on which Rs. 1,600 had been paid. All the forfeited shares were…
CUET UG 2022 — Accountancy Company Accounts
2022mcqmedium
The directors of a company forfeited 400 equity shares of Rs. 10 each fully called up on which Rs. 1,600 had been paid. All the forfeited shares were reissued upon payment of Rs. 3,000. Calculate the amount transferred to Capital Reserve
Official previous-year question
Held on 20 Aug 2022 · Verified 13 Jul 2026.
Options
- A
Rs. 1,600
- B
Rs. 600
- C
Rs. 1,400
- D
Rs. 2,400
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