Question

    GK Ltd. forfeited 500 shares of Rs. 10 each, fully

    called up, and held by Mr. Rakesh for non-payment of allotment money of Rs. 4 per share and first and final call money of Rs. 3 per share. These shares were re-issued @ Rs. 8 per share to Ms. Garima. What is the amount to be transferred to Capital Reserve?
    A Rs. 400 Correct Answer Incorrect Answer
    B Rs. 600 Correct Answer Incorrect Answer
    C Rs. 350 Correct Answer Incorrect Answer
    D Rs. 500 Correct Answer Incorrect Answer

    Solution

    The correct answer is D

    Practice Next