Question : 400 shares of 50 each issued at par were forfeited for non-payment of final call of 10 per share. These shares were reissued at 45 per share as fully paid-up. The amount transferred to capital reserve is:
Option 1: 15,000
Option 2: 14,000
Option 3: 16,000
Option 4: 13,000
Answer (1)
17th Jan, 2024
Correct Answer: 14,000
Solution : Amount transferred to Capital Reserve A/c = Debit balance of Forfeiture A/c - Credit balance of Forfeiture A/c = ₹ [(400 X 40) - (400 X 5)] = ₹ 14,000.
Comments (0)
Related Questions
Question : Dividend received is
6 Views
