32 Views

Question : A company forfeited 1,000 shares of Rs. 10 each fully called, on which Rs. 6,000 has been paid. Out of these, 800 shares were re-issued upon payment of Rs. 6,600. What is the amount to be transferred to the capital reserve?

Option 1: Rs. 4,800

Option 2: Rs. 6,000

Option 3: Rs. 4,600

Option 4: Rs. 3,400


Team Careers360 24th Jan, 2024
Answer (1)
Team Careers360 25th Jan, 2024

Correct Answer: Rs. 3,400


Solution : Answer = Rs. 3,400

Share forfeiture account credited by 800 shares x Rs.6 = Rs. 4,800.
Share forfeiture account debited by Rs. 1,400.
The amount transferred to Capital Reserve = Rs. 3,400.
Hence, the correct option is 4.

Related Questions

Amity University, Noida Law A...
Apply
700+ Campus placements at top national and global law firms, corporates and judiciaries
Amity University, Noida BBA A...
Apply
Ranked amongst top 3% universities globally (QS Rankings)
Amity University | M.Tech Adm...
Apply
Ranked amongst top 3% universities globally (QS Rankings).
IBSAT 2025-ICFAI Business Sch...
Apply
IBSAT 2025-Your gateway to MBA/PGPM @ IBS Hyderabad and 8 other IBS campuses | Scholarships worth 10 CR
Graphic Era (Deemed to be Uni...
Apply
NAAC A+ Grade | Among top 100 universities of India (NIRF 2024) | 40 crore+ scholarships distributed
Amity University Noida B.Tech...
Apply
Among Top 30 National Universities for Engineering (NIRF 2024) | 30+ Specializations | AI Powered Learning & State-of-the-Art Facilities
View All Application Forms

Download the Careers360 App on your Android phone

Regular exam updates, QnA, Predictors, College Applications & E-books now on your Mobile

150M+ Students
30,000+ Colleges
500+ Exams
1500+ E-books