Max Ltd. forfeited 500 shares of ₹ 100 each for non-payment of first call of ₹ 20 per share and final call of ₹ 25 per share. 250 of these shares were re-issued at ₹ 50 per share fully paid-up.
[Ans.: Gain on re-issue transferred to Capital Reserve – ₹ 1,250.]
Worked as a lecturer , educator
I am a M. Com Gold Medalist from Osmania University in 1999. And a UGC NET Qualified in June 1999.
My passion and interest are in the areas of Accountancy & Financial Management. Over the last ~20 years, I have been teaching students (predominantly in Class XI, XII – All Boards and B. Com Students across Universities.