Question

A Company forfeited 1,000 shares of ₹10 each fully paid on which ₹7,000 has been paid. Out of these 800 shares were reissued upon payment of ₹7,600. Amount transferred to Capital Reserve will be ______.

पर्याय

• ₹6,600

• ₹9,000

• ₹5,200

• ₹7,600

Answer 1

A Company forfeited 1,000 shares of ₹10 each fully paid on which ₹7,000 has been paid. Out of these 800 shares were reissued upon payment of ₹7,600. Amount transferred to Capital Reserve will be ₹5,200.

Explanation:

Forfeited = 1,000 shares of ₹10 each, fully paid, but only ₹7 paid per share → Forfeiture A/c credited = ₹7,000

Reissue = 800 shares for ₹7,600 (FV = ₹8,000) → Discount = ₹400

Forfeiture related to reissued shares = 800 × 7 = ₹5,600

Capital Reserve = 5,600 − 400

= ₹5,200