CUET Accountancy - Profit on reissue of shares is transferred to | PYQs + Solutions

CUET Accountancy 2025 29 May Shift 2

Company Accounts

Easy

common

Security premium account

Statement of profit and loss

General reserve

Capital reserve

✅ Correct Option: 4

Related questions:

15 May Shift 1

What is the amount of Profit on reissue of Forfeited Shares Accounts transferred to capital reserve?

15 May Shift 2

High Land India Ltd. invited applications for 50,000 Shares of Rs. 100 each per share. Applications were received for 70,000 shares and pro-rata allotment was made on the application for 50,000 shares. Rohan to whom 600 shares were allotted failed to pay the allotment money and his shares were forfeited immediately after allotment. Of the shares forfeited, 500 share were reissued as fully paid-up for Rs. 80 per share.

Order to be followed for recording entries will be

(A) Forfeiture of shares

(B) Calculation of amount received on allotment

(D) Reissue of shares

Choose the correct answer from the options given below:

14 May Shift 1

Shares can be forfeited :

CUET Accountancy 2025 29 May Shift 2 PYQs

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