(Solved by Humans)-Z Ltd. forfeited 150 shares of Rs.10, issued at a premium of Rs.2, for nonpayment of the final call...
Question
1. Z Ltd. forfeited 150 shares of Rs.10, issued at a premium of Rs.2, for nonpayment of the final call of Rs.3. Of these 100 shares were re-issued @ Rs.11 per share. How much is transferred to capital reserve?2. S Ltd. had issued equity shares of Rs.10 each at a discount of 6%. 200 of these shares had been forfeited for non-payment of the first and final call of Rs.2 each; 150 of these shares were later re-issued @ Rs.9 per share. Indicate the balance in the Share Forfeited Account and the Capital Reserve Account, resulting from the above.
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