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A Ltd. forfeited 100 equity shares of Rs. 10 each issued at a premium of 20% for the non-payment of final call of Rs. 5 including premium. State the maximum amount of discount at which these shares can be re-issued.

  • Post category:Accountancy
  • Reading time:1 mins read

SOLUTION

These shares can be reissued at a maximum discount of Rs. 7 per share (i.e., Rs. 700).



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Next PostJoy Ltd. issued 1 ,00.000 equity shares of Rs. 10 each. The amount was payable as follows:

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