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✦ FREE LEARNING — CLASS 11 & 12 — CBSE · PSEB — ACCOUNTS · ECONOMICS · BST ✦
Swasth Ltd. forfeited 2,000 shares of ₹10 each for non-payment of the final call of ₹3 per share. 1,500 of these shares were reissued, and the gain on reissue transferred to Capital Reserve was ₹7,500. Determine the amount realised from reissue of shares.
Amount forfeited on 2,000 shares, ₹7 per share = ₹14,000.
Forfeited amount attributable to the 1,500 reissued shares = 14,000 × 1,500 ÷ 2,000 = ₹10,500.
Face value of the 1,500 reissued shares = ₹15,000 (1,500 × ₹10).
Total amount of discount = ₹10,500 − ₹7,500 = ₹3,000.
Discount per share = ₹3,000 ÷ 1,500 = ₹2.
Therefore, amount realised from reissue of shares = ₹15,000 − ₹3,000 = ₹12,000.
Reissue price per share = ₹12,000 ÷ 1,500 = ₹8.
Accounting & Commerce Educator
Sarbjit Singh holds a B.Com and M.Com degree and has over 12 years of teaching experience in double entry bookkeeping, financial accounting, and business studies.
This guide covers "T.S. Grewal Class 12 Vol 2 Chapter 1 Q.99 - Share Capital", focusing on key definitions, step-by-step concepts, applications, and revision guidelines relevant to Chapter 1 - Share Capital.
It is primarily curated for Class 11 and Class 12 high school commerce, accounting, and economics students, as well as aspirants preparing for board exams or CA Foundation.
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