Question

2,000 shares allotted to Ms. Regal, on which ₹ 80 each called up and ₹ 50 paid were forfeited and reissued for ₹ 70 each as ₹ 90 paid up. Amount transferred to capital reserve A/c is ______.

विकल्प

• ₹ 1,00,000

• ₹ 60,000

• ₹ 40,000

• ₹ 20,000

Answer 1

2,000 shares allotted to Ms. Regal, on which ₹ 80 each called up and ₹ 50 paid were forfeited and reissued for ₹ 70 each as ₹ 90 paid up. Amount transferred to capital reserve A/c is ₹ 60,000.

Explanation:

Step 1: Calculate the Total Amount Forfeited

• Total Shares Forfeited: 2,000 shares
• Amount Paid by Ms. Regal Before Forfeiture: ₹ 50 per share
• Total Amount Forfeited: 
  2,000 shares × ₹ 50 = ₹ 1,00,000

Step 2: Calculate the Amount Received on Reissue

• Reissue Price per Share: ₹ 70
• Total Reissue Amount:
  2,000 shares × ₹ 70 = ₹ 1,40,000

Step 3: Calculate the Called-Up Value on Reissue

• Paid-Up Value per Share After Reissue: ₹ 90
• Total Called-Up Value:
  2,000 shares × ₹ 90 = ₹ 1,80,000

Step 4: Determine the Capital Reserve Transfer

Capital Reserve = Amount Forfeited − Discount on Reissue

• Total Forfeited Amount: ₹ 1,00,000
• Discount on Reissue: 
  Total Called-Up Value − Total Reissue Amount = ₹ 1,80,000 − ₹ 1,40,000 = ₹ 40,000
  Capital Reserve = ₹ 1,00,000 − ₹ 40,000 = ₹ 60,000