The Directors of Maharashtra Ltd. resolved on 1st May, 2020 that 2,000 Equity Shares of ₹ 10 each, ₹ 7.50 paid be forfeited for non-payment of final call of ₹ 2.50
Solution:-
Commerce School
Student Community
Archives Answers
Answer
On 1st May, 2022, Moneyplus Ltd. forfeited 200 shares of ₹ 20 each, ₹ 15 per share called-up, on which ₹ 10 per share has been paid by A, the amount of the first call of ₹ 5 per share being unpaid
Solution:-
Max Ltd. forfeited 500 shares of ₹ 100 each for non-payment of first call of ₹ 20 per share and final call of ₹ 25 per share. 250 of these shares were re-issued at ₹ 50 per share fully paid-up.
Solution:-
Alfa Ltd. forfeited 900 Equity Shares of ₹ 100 each for the non-payment of allotment money of ₹ 30 per share and the first call of ₹ 20 per share
Solution:-
Z Ltd. issued 10,000 shares of the value of ₹ 10 each, payable ₹ 3 on application, ₹ 3 on allotment and ₹ 4 on the first and final call
Solution:-
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
Solution:-
Determine the maximum permissible discount and minimum reissue price that a company can allow at the time of reissue of forfeited shares in the following cases
Solution:- i) Maximum permissible discount is equal to the amount received before reissue. In this case, ₹ 5 has already been received out of ₹ 10. Thus, this share can be reissued at a minimum of ₹ 5 with a…
Black Stone Ltd. issued 10,000 Equity Shares of ₹ 10 each at a premium of ₹ 3 per share payable ₹ 5 on application, ₹ 5 (including premium) on allotment and the balance on first call
Solution:-
Ankit Ltd issued 20,000 equity shares of ₹ 10 each at a premium of ₹ 2 per share, payable as:
Solution:-
Ratan Ltd forfeited 3,000 shares of ₹ 10 each (issued at ₹ 2 premium) for non-payament of first call of ₹ 2 per share
Solution:-