Madhu Ltd. forfeited 800 shares of `10 each issued at 10% premium to Shyam (` 9 called up) on which he did not pay ` 3 of allotment (including premium) and first call of `2. Out of these, 600 shares were re-issued to Ram as fully paid up for `9 per share. What is to amount to be transferred to capital Reserve?

Related MCQs

• If 500 shares of 10 issued at a premium of 1 on which 9 (including premium) have been called and 7 including premium have been paid are forfeited, the forfeiture account should be credited by :
• When forfeited shares (which were originally issued at a discount ) are reused at a premium, the amount of such premium will be credited to
• A few errors committed in Ahhiwalia's books of account are given below. State which errors would affect the Trial Balance. (a) Sales of `950 to Ram completely omitted from books of account (b) Purchases of `720 from Shyam entered in the purchases journal as `700 (c) Purchases Journal is overcast by `1,000 (d) Sales returns journal is undercast by `200 (e) Amount paid to Agarwal wrongly posted to the debit to Mittal's account (f) Bank overdraft shown under debit column in the Trial Balance (g) Sales of `500 to Sadiq entered in sales journal as sales to Mushtaq (h) Wages paid for installation of machinery debited to wages account
• If a share of Rs.10, on which Rs. 6 has been paid, is forfeited, it can be reissued at the minimum price of:
• The balance of the forfeited shares account after re-issue of forfeited shares is transferred to :
• The balance of the forfeited shares account after reissue of forfeited shares account is transferred to:
• If the opening capital is Rs.20,000 and closing capital is Rs.25,000; drawings made amounted to Rs.1,800; then, the amount of Rs.________ must be introduced as an additional capital during the year in order to earn a profit of Rs.2,800.
• M LTD. Issued share at a face value of Rs. 100 with a premium of Rs.20 per share. The underwrting commission will be calculated on __________
• M LTD. Issued share at a face value of Rs. 100 with a premium of Rs.20 per share. The underwrting commission will be calculated on __________
• A company is allowed by law to sell 200 000 shares at Rs.2.00 each. Three-quarters (3/4) of these shares were bought by the public. What is the issued share capital?