Ratan Ltd. ‘forfeited 1,000 shares of ₹ 10 each for non-payment of first and final call of ₹ 2 per share. These shares were reissued and gain on reissue transferred to Capital Reserve was ₹ 5,000
Ratan Ltd. ‘forfeited 1,000 shares of ₹ 10 each for non-payment of first and final call of ₹ 2 per share. These shares were reissued and gain on reissue transferred to Capital Reserve was ₹ 5,000. Determine the amount realised from reissue of shares.
[Ans.: Amount realised from reissue of shares – ₹ 7,000.]
Anurag Pathak Answered question September 9, 2024
