CUET Accountancy - The director of Poly Plastic 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 to Mohit. Profit on reissue of forfeited shares transferred to capital reserve. Amount credited to capital reserve account is- | PYQs + Solutions

CUET Accountancy 2025 27 May Shift 1

Company Accounts

Medium

common

Rs 5400

Rs 6000

Rs 4500

Rs 9000

✅ Correct Option: 3

Related questions:

30 May Shift 2

The maximum amount of discount on the re-issue of forfeited shares will be:-

15 May Shift 1

On Reissue of 500 forfeited shares as fully paid at Rs. 8 per share, what amount will be debited to Shares Forfeiture Account?

15 May Shift 1

The important steps in the procedure of share issue are :

(A) The company issues the prospectus to the public.

(B) The company has to get minimum subscription within 120 days from the date of the issue of the prospectus.

(C) The prospective investors intending to subscribe the share capital of the company would make an application along with the application money.

(D) Letters of allotment are sent to those whom the shares have been alloted, and letters of regret to those to whom no allotment has been made.

Choose the correct sequence of steps from the options given below:

CUET Accountancy 2025 27 May Shift 1 PYQs