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A company forfeited 100 equity shares of rupees 100 each at a premium of 50% on which the first call money of rupees 30 per share was not received final call of rupees 20 is yet to be made these shares were subsequently we should at rupees 70 per share at rupees 80 paid up the amount credited to Capital Reserve is please guys show me the steps too.
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A company forfeited 100 equity shares of rupees 100 each at a premium ...
share capital a/c (100*80)__8000 to forfeiture a/c 5000 {100×50} to call arrear {100×30} and bank a/c dr {100×70} 7000 forfeiture a/c dr 1000 to sc 100×80 8000 ad forfeiture a c dr 4000 to cr 5000-1000=4000
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A company forfeited 100 equity shares of rupees 100 each at a premium ...
Steps to Calculate Amount Credited to Capital Reserve

Step 1: Calculate the amount forfeited
- Total amount forfeited = 100 shares x Rs. 100 per share = Rs. 10,000

Step 2: Calculate the amount received on reissue of forfeited shares
- Reissue price = Rs. 70 per share
- Number of shares reissued = 100 shares
- Total amount received on reissue = 100 shares x Rs. 70 per share = Rs. 7,000

Step 3: Calculate the amount credited to share capital account
- First call amount not received = Rs. 30 per share
- Final call amount = Rs. 20 per share
- Paid-up value of share = Rs. 80 per share
- Amount credited to share capital account = (Paid-up value - First call - Final call) x Number of shares reissued
= (Rs. 80 - Rs. 30 - Rs. 20) x 100 shares
= Rs. 30 x 100 shares
= Rs. 3,000

Step 4: Calculate the amount credited to capital reserve
- Amount credited to capital reserve = Total amount forfeited - Amount credited to share capital account + Amount received on reissue
= Rs. 10,000 - Rs. 3,000 + Rs. 7,000
= Rs. 14,000

Therefore, the amount credited to Capital Reserve is Rs. 14,000.
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A company forfeited 100 equity shares of rupees 100 each at a premium of 50% on which the first call money of rupees 30 per share was not received final call of rupees 20 is yet to be made these shares were subsequently we should at rupees 70 per share at rupees 80 paid up the amount credited to Capital Reserve is please guys show me the steps too.
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A company forfeited 100 equity shares of rupees 100 each at a premium of 50% on which the first call money of rupees 30 per share was not received final call of rupees 20 is yet to be made these shares were subsequently we should at rupees 70 per share at rupees 80 paid up the amount credited to Capital Reserve is please guys show me the steps too. for CA Foundation 2024 is part of CA Foundation preparation. The Question and answers have been prepared according to the CA Foundation exam syllabus. Information about A company forfeited 100 equity shares of rupees 100 each at a premium of 50% on which the first call money of rupees 30 per share was not received final call of rupees 20 is yet to be made these shares were subsequently we should at rupees 70 per share at rupees 80 paid up the amount credited to Capital Reserve is please guys show me the steps too. covers all topics & solutions for CA Foundation 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for A company forfeited 100 equity shares of rupees 100 each at a premium of 50% on which the first call money of rupees 30 per share was not received final call of rupees 20 is yet to be made these shares were subsequently we should at rupees 70 per share at rupees 80 paid up the amount credited to Capital Reserve is please guys show me the steps too..
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