Question

Apaar Ltd forfeited 4,000 shares of ₹20 each, fully called up, on which only application money of ₹6 has been paid. Out of these 2,000 shares were reissued and ₹8,000 has been transferred to capital reserve. Calculate the rate at which these shares were reissued.

विकल्प

• ₹20 Per share

• ₹18 Per share

• ₹22 Per share

• ₹8 Per share

Answer 1

₹18 Per share

Explanation:

Called up = ₹20
Paid = ₹6
Unpaid = ₹14
Forfeiture credited = ₹6 × 4,000 = ₹24,000
Per share forfeited = ₹6

Forfeiture on 2,000 = 2,000 × 6 = ₹12,000

Transfer to Capital Reserve = ₹8,000

Therefore, Discount allowed on reissue = 12,000 − 8,000 = ₹4,000

Discount per share = 4,000 ÷ 2,000 = ₹2

Paid-up value = ₹20

Discount = ₹2

Reissue price = ₹20 − ₹2

= ₹18 per share