Forfeiture balance on Rahul's 2,000 shares = Rs.10,000 (Rs.5 per share). The maximum permissible discount on reissue is therefore Rs.5. Reissuing at the minimum issue price means Rs.5 per share, and the entire Rs.10,000 of forfeiture is used up as discount. Hence, amount transferred to Capital Reserve = Nil.
Determine the amount to be transferred to Capital Reserve on reissue of Rahul's Shares
CUET UG 2023 — Accountancy Company Accounts
2023mcqeasy
Determine the amount to be transferred to Capital Reserve on reissue of Rahul's Shares
Official previous-year question
Held on 20 Jun 2023 · Verified 13 Jul 2026.
Options
- A
Rs.7,800
- B
Rs.6,000
- C
Rs.1,800
- D
Nil
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