Computer Mart Ltd. forfeited 1,000 Equity Shares of ₹ 50 each issued at 10% premium on which allotment money of ₹ 15 per equity share (including premium) and first call of ₹ 15 per share were not received the second and final call of ₹ 10 per equity share were not yet called.
Calculate ‘Discount Allowed or Premium Received’ and ‘Amount transferred to Capital Reserve’ on reissue of shares as fully paid-up in each of the following cases:
- If these shares were reissued as ₹ 40 paid-up for ₹ 45 per share.
- If these shares were issued as ₹ 40 paid-up for ₹ 40 per share.
- If these shares were reissued as ₹ 40 paid-up for ₹ 35 per share.
Solution :
