A company has a subscribed capital of 2,00,000 equity shares of ₹25 each, ₹20 per share called up. The directors forfeited 200 equity held by a shareholder who failed to pay the first call made @ ₹10 per share. Later, th
CS Executive · Corporate and Management Accounting · PYQS · June 2021
A company has a subscribed capital of 2,00,000 equity shares of ₹25 each, ₹20 per share called up. The directors forfeited 200 equity held by a shareholder who failed to pay the first call made @ ₹10 per share. Later, the directors reissued these shares as ₹20 per share paid up at ₹15 per share. On reissue, amount to be transferred to capital reserve account is ............
Answer & Explanation:
Correct Answer: Option (A)
Official answer key: (A).
Topics: Corporate Accounting
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