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12th Class Accountancy Accounting For Share Capital Question Bank MCQs - Accounting for Share Capital

  • question_answer
    Pragya Ltd. forfeited 8,000 equity shares of Rs. 100 each issued at a premium of 10% for non-payment of first and final call of Rs. 30 per share. The maximum amount of discount at which these shares can be reissued will be:           (CBSE 2020)

    A) Rs. 80,000                                

    B) Rs. 3,20,000

    C) Rs. 5,60,000                             

    D) Rs. 2,40,000

    Correct Answer: C

    Solution :

    [c] Rs. 5,60,000
    Hint: Maximum amount of discount at which these shares can be reissued are (8,000 \[\times \] 70) = Rs. 5,60,000


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