Mathematics · Corporate Accounting
The directors of Priya Polymers Limited resolved that 200 equity shares of Rs. 100 each be forfeited for non-payment of the second and final call of Rs. 30 per share. Out of these, 150 shares were re-issued at Rs. 60 per share as fully paid up to Mohit. What is the net amount credited to the Capital Reserve Account?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Rs. 5,000
- 2Rs. 5,500
- 3Rs. 4,500✓
- 4Rs. 4,000
Correct answer
Rs. 4,500
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