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Asha Ltd. issued shares of Rs. 100 each at a premium of 25%. Mamta who has Rs. 2,000 shares of Asha Ltd., failed to pay first and final call totaling Rs. 5. Premium was taken at the time of allotment by the company. On forfeiture of Mamta’s shares, the amount to be debited to share Premium account will be:
- a)Rs. 5,000
- b)Rs. 10,000
- c)Rs. 15,000
- d)Nil
Correct answer is option 'D'. Can you explain this answer?
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Asha Ltd. issued shares of Rs. 100 each at a premium of 25%. Mamta who...
Because Mamta who fail to pay first and final call money and premium was made on allotment money so premium A/C will be not debited on forfeiture of share
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Asha Ltd. issued shares of Rs. 100 each at a premium of 25%. Mamta who...
's shares, how much amount will be transferred to the capital reserve?
To calculate the amount transferred to the capital reserve, we first need to determine the total amount of the shares Mamta failed to pay for.
The face value of each share is Rs. 100, and the premium is 25% of the face value, which is Rs. 25.
So, the total amount per share is Rs. 100 + Rs. 25 = Rs. 125.
Mamta failed to pay first and final call totaling Rs. 5, which is the total amount per share.
Therefore, the number of shares Mamta failed to pay for is Rs. 5 / Rs. 125 = 0.04 shares.
Since Mamta has 2,000 shares, the total amount she failed to pay for is 0.04 shares * 2,000 shares = 80 shares.
Now, since the premium was taken at the time of allotment, the capital reserve will include the amount of the premium.
The premium per share is Rs. 25, so the total amount of the premium for the forfeited shares is Rs. 25 * 80 shares = Rs. 2,000.
Therefore, Rs. 2,000 will be transferred to the capital reserve.
To calculate the amount transferred to the capital reserve, we first need to determine the total amount of the shares Mamta failed to pay for.
The face value of each share is Rs. 100, and the premium is 25% of the face value, which is Rs. 25.
So, the total amount per share is Rs. 100 + Rs. 25 = Rs. 125.
Mamta failed to pay first and final call totaling Rs. 5, which is the total amount per share.
Therefore, the number of shares Mamta failed to pay for is Rs. 5 / Rs. 125 = 0.04 shares.
Since Mamta has 2,000 shares, the total amount she failed to pay for is 0.04 shares * 2,000 shares = 80 shares.
Now, since the premium was taken at the time of allotment, the capital reserve will include the amount of the premium.
The premium per share is Rs. 25, so the total amount of the premium for the forfeited shares is Rs. 25 * 80 shares = Rs. 2,000.
Therefore, Rs. 2,000 will be transferred to the capital reserve.
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Asha Ltd. issued shares of Rs. 100 each at a premium of 25%. Mamta who has Rs. 2,000 shares of Asha Ltd., failed to pay first and final call totaling Rs. 5. Premium was taken at the time of allotment by the company. On forfeiture of Mamta’s shares, the amount to be debited to share Premium account will be:a)Rs. 5,000b)Rs. 10,000c)Rs. 15,000d)NilCorrect answer is option 'D'. Can you explain this answer?
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Asha Ltd. issued shares of Rs. 100 each at a premium of 25%. Mamta who has Rs. 2,000 shares of Asha Ltd., failed to pay first and final call totaling Rs. 5. Premium was taken at the time of allotment by the company. On forfeiture of Mamta’s shares, the amount to be debited to share Premium account will be:a)Rs. 5,000b)Rs. 10,000c)Rs. 15,000d)NilCorrect answer is option 'D'. Can you explain this answer? for CA Foundation 2025 is part of CA Foundation preparation. The Question and answers have been prepared according to the CA Foundation exam syllabus. Information about Asha Ltd. issued shares of Rs. 100 each at a premium of 25%. Mamta who has Rs. 2,000 shares of Asha Ltd., failed to pay first and final call totaling Rs. 5. Premium was taken at the time of allotment by the company. On forfeiture of Mamta’s shares, the amount to be debited to share Premium account will be:a)Rs. 5,000b)Rs. 10,000c)Rs. 15,000d)NilCorrect answer is option 'D'. Can you explain this answer? covers all topics & solutions for CA Foundation 2025 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Asha Ltd. issued shares of Rs. 100 each at a premium of 25%. Mamta who has Rs. 2,000 shares of Asha Ltd., failed to pay first and final call totaling Rs. 5. Premium was taken at the time of allotment by the company. On forfeiture of Mamta’s shares, the amount to be debited to share Premium account will be:a)Rs. 5,000b)Rs. 10,000c)Rs. 15,000d)NilCorrect answer is option 'D'. Can you explain this answer?.
Asha Ltd. issued shares of Rs. 100 each at a premium of 25%. Mamta who has Rs. 2,000 shares of Asha Ltd., failed to pay first and final call totaling Rs. 5. Premium was taken at the time of allotment by the company. On forfeiture of Mamta’s shares, the amount to be debited to share Premium account will be:a)Rs. 5,000b)Rs. 10,000c)Rs. 15,000d)NilCorrect answer is option 'D'. Can you explain this answer? for CA Foundation 2025 is part of CA Foundation preparation. The Question and answers have been prepared according to the CA Foundation exam syllabus. Information about Asha Ltd. issued shares of Rs. 100 each at a premium of 25%. Mamta who has Rs. 2,000 shares of Asha Ltd., failed to pay first and final call totaling Rs. 5. Premium was taken at the time of allotment by the company. On forfeiture of Mamta’s shares, the amount to be debited to share Premium account will be:a)Rs. 5,000b)Rs. 10,000c)Rs. 15,000d)NilCorrect answer is option 'D'. Can you explain this answer? covers all topics & solutions for CA Foundation 2025 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Asha Ltd. issued shares of Rs. 100 each at a premium of 25%. Mamta who has Rs. 2,000 shares of Asha Ltd., failed to pay first and final call totaling Rs. 5. Premium was taken at the time of allotment by the company. On forfeiture of Mamta’s shares, the amount to be debited to share Premium account will be:a)Rs. 5,000b)Rs. 10,000c)Rs. 15,000d)NilCorrect answer is option 'D'. Can you explain this answer?.
Solutions for Asha Ltd. issued shares of Rs. 100 each at a premium of 25%. Mamta who has Rs. 2,000 shares of Asha Ltd., failed to pay first and final call totaling Rs. 5. Premium was taken at the time of allotment by the company. On forfeiture of Mamta’s shares, the amount to be debited to share Premium account will be:a)Rs. 5,000b)Rs. 10,000c)Rs. 15,000d)NilCorrect answer is option 'D'. Can you explain this answer? in English & in Hindi are available as part of our courses for CA Foundation.
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Asha Ltd. issued shares of Rs. 100 each at a premium of 25%. Mamta who has Rs. 2,000 shares of Asha Ltd., failed to pay first and final call totaling Rs. 5. Premium was taken at the time of allotment by the company. On forfeiture of Mamta’s shares, the amount to be debited to share Premium account will be:a)Rs. 5,000b)Rs. 10,000c)Rs. 15,000d)NilCorrect answer is option 'D'. Can you explain this answer?, a detailed solution for Asha Ltd. issued shares of Rs. 100 each at a premium of 25%. Mamta who has Rs. 2,000 shares of Asha Ltd., failed to pay first and final call totaling Rs. 5. Premium was taken at the time of allotment by the company. On forfeiture of Mamta’s shares, the amount to be debited to share Premium account will be:a)Rs. 5,000b)Rs. 10,000c)Rs. 15,000d)NilCorrect answer is option 'D'. Can you explain this answer? has been provided alongside types of Asha Ltd. issued shares of Rs. 100 each at a premium of 25%. Mamta who has Rs. 2,000 shares of Asha Ltd., failed to pay first and final call totaling Rs. 5. Premium was taken at the time of allotment by the company. On forfeiture of Mamta’s shares, the amount to be debited to share Premium account will be:a)Rs. 5,000b)Rs. 10,000c)Rs. 15,000d)NilCorrect answer is option 'D'. Can you explain this answer? theory, EduRev gives you an
ample number of questions to practice Asha Ltd. issued shares of Rs. 100 each at a premium of 25%. Mamta who has Rs. 2,000 shares of Asha Ltd., failed to pay first and final call totaling Rs. 5. Premium was taken at the time of allotment by the company. On forfeiture of Mamta’s shares, the amount to be debited to share Premium account will be:a)Rs. 5,000b)Rs. 10,000c)Rs. 15,000d)NilCorrect answer is option 'D'. Can you explain this answer? tests, examples and also practice CA Foundation tests.
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