X was issued 100 shares of Rs. 10 each at a premium of Re.1, he paid application money and allotment money which in total amounted to Rs. 5 (excluding premium) and failed to pay the balance call money of Rs. 5. Find the maximum discount that can be given at the time reissue of shares: 
  • a)
    Rs. 4 per shares 
  • b)
    Rs. 5 per share
  • c)
    Rs. 2 per share 
  • d)
    Rs. 6 per share 
Correct answer is option 'B'. Can you explain this answer?

CA Foundation Question

3 Answers
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