P Ltd. has a total subscribed capital of ₹10,00,000 in equity shares of ₹10 each of which ₹7.50 were called up. A final call of ₹2.50 was made and all amounts paid except the two calls of ₹2.50 each in respect of 200 sha
CS Executive · Corporate and Management Accounting · PYQS · June 2022
P Ltd. has a total subscribed capital of ₹10,00,000 in equity shares of ₹10 each of which ₹7.50 were called up. A final call of ₹2.50 was made and all amounts paid except the two calls of ₹2.50 each in respect of 200 shares held by A. These shares were forfeited and re-issued at ₹8.00 per share. What amount will be transferred to capital reserve account on re-issue of forfeited shares ?
Answer & Explanation:
Correct Answer: Option (B)
Official answer key: (B).
Topics: Corporate Accounting
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