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X co. Ltd. forfeited 1,000 shares of Rs. 10 each fully called up for non-payment of final call of Rs. 1 per share. 400 of forfeited shares are reissued as fully paid at Rs. 8 per share. The balance of forfeited share account will be:
A
Rs. 2,800
B
Rs. 3,600
C
Rs. 5,400
D
Rs. 9,000
Correct Answer:
Rs. 2,800
A Ltd. forfeited 500 shares of M of Rs. 10 each fully called-up for non-payment of first call of Rs. 2 per share and final call of Rs. 2 per share. 300 of these shares were reissued at 9 per share, fully paid-up. What amount will be transferred to the Capital Reserve A/c?
A
Rs. 2,000
B
Rs. 1,200
C
Rs. 1,500
D
Rs. 1,800
The director of 'M' Ltd., resolved to forfeit 2,000 equity shares of Rs. 10 each Rs. 7.50 per share paid up for non-payment of Final call of Rs. 2.50 per share. 1,000 of the forfeited shares were reissued of Rs. 6 per share fully paid up. Capital Reserve Account will be credited by
A
Rs. 3,500
B
Rs. 7,500
C
Rs. 9,000
D
Rs. 11,000
X Ltd. forfeited 20 shares of Rs. 10 each (Rs. 8 called up) on which John had paid application and allotment money of Rs. 5 per share. Of these, 15 shares were reissued to Parker as fully paid up for Rs. 6 per share. What is the balance in the share forfeiture account after the relevant amount is transferred to the capital reserve account?
A
NIL
B
Rs. 5
C
Rs. 25
D
Rs. 100
ABC Ltd., forfeited 20 shares of Rs. 10 each on which Rs. 6 per share were paid. If out of these shares 8 shares were reissued to Hari as fully paid up on payment of Rs. 5.50 per share, the amount that will stand to the credit of Share Forfeited A/c will be
A
Rs. 48
B
Rs. 72
C
Rs. 84
D
Rs. 96
X Ltd. forfeited 20 shares of Rs. 10 each on which Rs. 6 per share was paid. If out of these, 8 shares were reissued to Hari as fully paid on payment of Rs. 5.50 per share what would be the amount to the credit of share forfeited A/c:
A
Rs. 48
B
Rs. 72
C
Rs. 84
D
Rs. 120
X Ltd. forfeited 20 shares of Rs. 10 each on which Rs. 6 per share were paid. Out of these shares, 8 shares were reissued as fully paid up on payment of Rs. 5.50 per share. The amount to be transferred to capital reserve account will be:
A
Rs. 12
B
Rs. 36
C
Rs. 84
D
Rs. 120
A, B, Co. Ltd. forfeited 20 shares of Rs. 10 each, Rs. 7 called up on which C had paid application and allotment money of Rs. 5 per share. Of these, 15 shares were reissued to D @Rs. 6 per share as fully paid-up for Capital Reserve account would be:
A
Rs. 15
B
Rs. 20
C
Rs. 75
D
Rs. 100
X Ltd forfeited 40 shares of Rs. 10 each and on which Rs. 4 per share were paid. If the forfeited shares are reissued as Rs. 8 per share paid-up. What is the minimum price the company must charge?
A
Rs. 2 per share
B
Rs. 1 per share
C
Rs. 8 per share
D
Rs. 10 per share
M. Ltd. forfeited 50 shares of Rs. 100 each issued to X (Rs. 80 called up) on which the allotment money of Rs. 30 and the first call money of Rs. 20 have not been received. The company reissued these shares @ Rs. 90 per share as fully paid up. The amount to be transferred to Capital Reserve Account would be:
A
Rs. 500
B
Rs. 1,000
C
Rs. 1,500
D
Rs. 2,000
X Ltd. forfeited 40 share of Rs. 10 each and on which Rs. 4 per share were paid. If the forfeited share are reissued as Rs. 8 per share paid up, what is the minimum price the company must charge?
A
Rs. 2 per share
B
Rs. 4 per share
C
Rs. 8 per share
D
Rs. 10 per share