Answered step by step
Verified Expert Solution
Question
1 Approved Answer
AH Ltd. forfeited 500 shares of Rs 10 each on which first call of Rs 3 per share was not received, the second and
AH Ltd. forfeited 500 shares of Rs 10 each on which first call of Rs 3 per share was not received, the second and final call of Rs 2 per share has not yet been called. Out of these 125 shares were re-issued to I as Rs 8 paid-up for Rs 7 per share. The Profit on re-issue is A B C D Rs 2,500, Rs 2,375, Rs 500, None of these
Step by Step Solution
★★★★★
3.55 Rating (166 Votes )
There are 3 Steps involved in it
Step: 1
Correct option is C Forfeiture amount per share is the amount to be received by th...Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Document Format ( 2 attachments)
635dcfddca394_179071.pdf
180 KBs PDF File
635dcfddca394_179071.docx
120 KBs Word File
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started