The profit on the reissue of forfeited share are transferred to A. Capital A/ c B. Capital Reserve C. Profit & Loss A/c D. General Issues

The profit on the reissue of forfeited share are transferred to
A. Capital A/ c
B. Capital Reserve
C. Profit & Loss A/c
D. General Issues
by

1 Answer

Answer :

B. Capital Reserve
by

Related questions

X Limited forfeited Ram’s 20 shares of Rs. 10 each on which Rs. 7 is called up. Ram had paid application and allotment money of Rs. 5 per share. Of these forfeited shares 15 shares were reissued to Hari as fully paid up for Rs. 6 per share. What amount should be transferred to Capital Reserve account ? (A) Rs. 15 (B) Rs. 20 (C) Rs. 75 (D) Rs. 100

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