What amount of gain on reissue will be transferred to Capital Reserve under following situations? (i) 3,000 shares of ₹ 10 each of Rakesh were
What amount of gain on reissue will be transferred to Capital Reserve under following situations?
(i) 3,000 shares of ₹ 10 each of Rakesh were forfeited by crediting ₹ 5,000 to Forfeited Shares Account.
(ii) Z Ltd. forfeited 20 shares of ₹ 100 each (₹ 60 called-up) issued at par to Shiv on which he paid ₹ 20 per share. Out of these, 15 shares were reissued to Rajesh as ₹ 60 paid-up for ₹ 45 per share.
[Ans.: (i) ₹ 1,200, (ii) ₹ 75.]
Anurag Pathak Changed status to publish September 6, 2023
