CUET CUET Accountancy 2024 - 400 shares of ₹ 50 each issued at par were forfeited for non-payment of final call of ₹ 10 per share. These shares were reissued at ₹ 45 per share as fully paid-up. The amount transferred to capital reserve is: | PYQs + Solutions

CUET Accountancy 2024

Accountancy

Accounting for Share Capital

Medium

400 shares of ₹ 50 each issued at par were forfeited for non-payment of final call of ₹ 10 per share. These shares were reissued at ₹ 45 per share as fully paid-up. The amount transferred to capital reserve is:

₹ 15,000

₹ 14,000

₹ 16,000

₹ 13,000

Correct Option: 2

Forfeited shares = 400 shares × ₹ 10 (final call) = ₹ 4,000.

Reissued shares = 400 shares × ₹ 45 = ₹ 18,000.

Amount transferred to capital reserve = Reissue amount - Forfeited amount = ₹ 18,000 - ₹ 4,000 = ₹ 14,000.

Answer: ₹ 14,000.