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Pragya Ltd. forfeited 8,000 equity shares of 7 100 each issued at a premium of 10% for non-payment of first and final call of 30 per share. The maximum amount of discount at which these shares can be reissued will be : (A) 80,000 (B) 33,20,000 (C) 25,60,000 (D) 2,40,000?
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Pragya Ltd. forfeited 8,000 equity shares of 7 100 each issued at a pr...
Pragya Ltd. Forfeited Equity Shares
Background:
Pragya Ltd. issued 8,000 equity shares at a face value of ₹100 each with a premium of 10%. However, the shareholders failed to make the payment for the first and final call of ₹30 per share. As a result, these shares were forfeited by the company.
Forfeiture of Shares:
Forfeiture of shares refers to the cancellation of shares by the company when the shareholders fail to make the required payments on time. When shares are forfeited, the shareholder loses all rights and privileges associated with those shares.
Calculation of Forfeited Shares:
Number of forfeited shares = 8,000
Maximum Discount to be Given:
Discount refers to the reduction in the issue price of shares. When forfeited shares are reissued, they are usually sold at a discount to attract buyers. The maximum discount that can be given on the reissue of shares is limited to the amount already received from the shareholders.
Calculation of Maximum Discount:
Amount received from shareholders = Number of forfeited shares x Call amount per share
= 8,000 x ₹30
= ₹2,40,000
Therefore, the maximum amount of discount that can be given on the reissue of shares is ₹2,40,000.
Answer:
The maximum amount of discount at which these shares can be reissued is ₹2,40,000. (Option D)
Background:
Pragya Ltd. issued 8,000 equity shares at a face value of ₹100 each with a premium of 10%. However, the shareholders failed to make the payment for the first and final call of ₹30 per share. As a result, these shares were forfeited by the company.
Forfeiture of Shares:
Forfeiture of shares refers to the cancellation of shares by the company when the shareholders fail to make the required payments on time. When shares are forfeited, the shareholder loses all rights and privileges associated with those shares.
Calculation of Forfeited Shares:
Number of forfeited shares = 8,000
Maximum Discount to be Given:
Discount refers to the reduction in the issue price of shares. When forfeited shares are reissued, they are usually sold at a discount to attract buyers. The maximum discount that can be given on the reissue of shares is limited to the amount already received from the shareholders.
Calculation of Maximum Discount:
Amount received from shareholders = Number of forfeited shares x Call amount per share
= 8,000 x ₹30
= ₹2,40,000
Therefore, the maximum amount of discount that can be given on the reissue of shares is ₹2,40,000.
Answer:
The maximum amount of discount at which these shares can be reissued is ₹2,40,000. (Option D)
Community Answer
Pragya Ltd. forfeited 8,000 equity shares of 7 100 each issued at a pr...
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Operation Valour Sacrifice Coin-01 No
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S C Srivastava Lucknow Uttar Pradesh
Phone number 82994
(7)Rs5/-Golde
Operation Valour Sacrifice Coin-01 No
(8) Rs5-Tractor WALE NOTES with unique Sl Nos--20 Nos
(9) Rs1/- Boat Wale Notes with unique Sl Nos--15 Nos
(10) Rs500/-Old Notes-2 Nos with unique Sl Nos
Please go through the above Coins and Notes, and let me know their Valuations
S C Srivastava Lucknow Uttar Pradesh
Phone number 82994
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Pragya Ltd. forfeited 8,000 equity shares of 7 100 each issued at a premium of 10% for non-payment of first and final call of 30 per share. The maximum amount of discount at which these shares can be reissued will be : (A) 80,000 (B) 33,20,000 (C) 25,60,000 (D) 2,40,000?
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Pragya Ltd. forfeited 8,000 equity shares of 7 100 each issued at a premium of 10% for non-payment of first and final call of 30 per share. The maximum amount of discount at which these shares can be reissued will be : (A) 80,000 (B) 33,20,000 (C) 25,60,000 (D) 2,40,000? for Commerce 2024 is part of Commerce preparation. The Question and answers have been prepared according to the Commerce exam syllabus. Information about Pragya Ltd. forfeited 8,000 equity shares of 7 100 each issued at a premium of 10% for non-payment of first and final call of 30 per share. The maximum amount of discount at which these shares can be reissued will be : (A) 80,000 (B) 33,20,000 (C) 25,60,000 (D) 2,40,000? covers all topics & solutions for Commerce 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Pragya Ltd. forfeited 8,000 equity shares of 7 100 each issued at a premium of 10% for non-payment of first and final call of 30 per share. The maximum amount of discount at which these shares can be reissued will be : (A) 80,000 (B) 33,20,000 (C) 25,60,000 (D) 2,40,000?.
Pragya Ltd. forfeited 8,000 equity shares of 7 100 each issued at a premium of 10% for non-payment of first and final call of 30 per share. The maximum amount of discount at which these shares can be reissued will be : (A) 80,000 (B) 33,20,000 (C) 25,60,000 (D) 2,40,000? for Commerce 2024 is part of Commerce preparation. The Question and answers have been prepared according to the Commerce exam syllabus. Information about Pragya Ltd. forfeited 8,000 equity shares of 7 100 each issued at a premium of 10% for non-payment of first and final call of 30 per share. The maximum amount of discount at which these shares can be reissued will be : (A) 80,000 (B) 33,20,000 (C) 25,60,000 (D) 2,40,000? covers all topics & solutions for Commerce 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Pragya Ltd. forfeited 8,000 equity shares of 7 100 each issued at a premium of 10% for non-payment of first and final call of 30 per share. The maximum amount of discount at which these shares can be reissued will be : (A) 80,000 (B) 33,20,000 (C) 25,60,000 (D) 2,40,000?.
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Pragya Ltd. forfeited 8,000 equity shares of 7 100 each issued at a premium of 10% for non-payment of first and final call of 30 per share. The maximum amount of discount at which these shares can be reissued will be : (A) 80,000 (B) 33,20,000 (C) 25,60,000 (D) 2,40,000?, a detailed solution for Pragya Ltd. forfeited 8,000 equity shares of 7 100 each issued at a premium of 10% for non-payment of first and final call of 30 per share. The maximum amount of discount at which these shares can be reissued will be : (A) 80,000 (B) 33,20,000 (C) 25,60,000 (D) 2,40,000? has been provided alongside types of Pragya Ltd. forfeited 8,000 equity shares of 7 100 each issued at a premium of 10% for non-payment of first and final call of 30 per share. The maximum amount of discount at which these shares can be reissued will be : (A) 80,000 (B) 33,20,000 (C) 25,60,000 (D) 2,40,000? theory, EduRev gives you an
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