Extra Education
← All Financial Accounting questions
1

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?

Correct Answer: `2,400

Make the most of this question

This page focuses on one Financial Accounting question from Faculty. After checking the answer, return to the topic list to practice more or run a timed set.

← More Financial Accounting MCQsAll Faculty topicsMock test hub
Financial Accounting MCQ: 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? | Extra Education