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प्रश्न
Computer Mart Ltd. forfeited 1,000 Equity Shares of ₹ 50 each issued at 10% premium on which allotment money of ₹ 15 per equity share (including premium) and first call of ₹ 15 per share were not received, the second and final call of ₹ 10 per equity share was not yet called.
Calculate 'Discount Allowed or Premium Received' and 'Amount transferred to Capital Reserve' on reissue of shares as fully paid-up in each of the following cases:
Case 1. If these shares were reissued as ₹ 40 paid-up for ₹ 45 per share.
Case 2. If these shares were reissued as ₹ 40 paid-up for ₹ 40 per share.
Case 3. If these shares were reissued as ₹ 40 paid-up for ₹ 35 per share.
Case 4. If these shares were reissued as ₹ 40 paid-up for ₹ 25 per share.
Case 5. If these shares were reissued at ₹ 35 per share as fully paid-up.
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उत्तर
Face value per share: ₹ 50
Premium: 10% of ₹ 50 = ₹ 5 per share
Second and Final Call of ₹ 10 per share was not yet called.
Therefore, Share Capital called-up:
₹ 50 − ₹ 10 = ₹ 40 per share
Allotment = ₹ 15 including premium ₹ 5, therefore capital portion of allotment:
₹ 15 − ₹ 5 = ₹ 10
First Call unpaid = ₹ 15
Thus, capital amount received per share before forfeiture:
₹ 40 − ₹ 10 − ₹ 15 = ₹ 15
Amount credited to Forfeited Shares A/c:
1,000 × ₹ 15 = ₹ 15,000
Case 1: Reissued as ₹ 40 paid-up for ₹ 45 per share
Cash received:
1,000 × ₹ 45 = ₹ 45,000
Share Capital credited:
1,000 × ₹ 40 = ₹ 40,000
Therefore, Premium received:
₹ 45,000 − ₹ 40,000 = ₹ 5,000
No discount is allowed, so the entire forfeited amount is transferred to Capital Reserve:
₹ 15,000
Premium Received = ₹ 5,000; Capital Reserve = ₹ 15,000
Case 2: Reissued as ₹ 40 paid-up for ₹ 40 per share
Cash received:
1,000 × ₹ 40 = ₹ 40,000
Share Capital credited:
1,000 × ₹ 40 = ₹ 40,000
Therefore:
Discount/Premium = Nil
Capital Reserve:
₹ 15,000
Discount or Premium = Nil; Capital Reserve = ₹ 15,000
Case 3: Reissued as ₹ 40 paid-up for ₹ 35 per share
Discount per share:
₹ 40 − ₹ 35 = ₹ 5
Total discount:
1,000 × ₹ 5 = ₹ 5,000
Capital Reserve:
₹ 15,000 − ₹ 5,000 = ₹ 10,000
Discount Allowed = ₹ 5,000; Capital Reserve = ₹ 10,000
Case 4: Reissued as ₹ 40 paid-up for ₹ 25 per share
Discount per share:
₹ 40 − ₹ 25 = ₹ 15
Total discount:
1,000 × ₹ 15 = ₹ 15,000
Capital Reserve:
₹ 15,000 − ₹ 15,000 = Nil
Discount Allowed = ₹ 15,000; Capital Reserve = Nil
Case 5: Reissued at ₹ 35 per share as Fully Paid-up
Since shares are now fully paid-up, Share Capital credited = ₹ 50 per share.
Discount per share:
₹ 50 − ₹ 35 = ₹ 15
Total discount:
1,000 × ₹ 15 = ₹ 15,000
Capital Reserve:
₹ 15,000 − ₹ 15,000 = Nil
Discount Allowed = ₹ 15,000; Capital Reserve = Nil
