A Ltd. forfeited 1,000 shares of ₹10 each fully called up for non-payment of first & final call of ₹3 per share. 600 of these shares were reissued at ₹9 per share, fully paid up. What is the amount to be transferred
CS Executive · Corporate and Management Accounting · PYQS · December 2021
A Ltd. forfeited 1,000 shares of ₹10 each fully called up for non-payment of first & final call of ₹3 per share. 600 of these shares were reissued at ₹9 per share, fully paid up. What is the amount to be transferred to Capital Reserve Account ?
Answer & Explanation:
Correct Answer: Option (D)
Official answer key: (D).
Topics: Company Accounts
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