Question

Pawan Ltd. forfeited 1,000 equity shares of ₹ 10 per share for non-payment of first call of ₹ 2 per share. The final call of ₹ 2 per share was yet to be made. The maximum amount of discount at which these shares can be reissued will bе

Options

• ₹ 6,000.

• ₹ 2,000.

• ₹ 4,000.

• ₹ 8,000.

Answer 1

₹6,000.

Explanation:

Only ₹ 8 per share had been called-up because the final call of ₹ 2 was not yet made. Out of ₹ 8, the first call of ₹ 2 was unpaid, so ₹ 6 per share was forfeited.

1,000 × ₹ 6 = ₹ 6,000