Answered step by step
Verified Expert Solution
Question
1 Approved Answer
X Ltd. forfeited 700 shares of Rs. 10 each (9 called up) on which he paid up 7 per share. Out of these 200
X Ltd. forfeited 700 shares of Rs. 10 each (9 called up) on which he paid up 7 per share. Out of these 200 shares were re-issued at Rs. 9. Calculate the amount credited to Share Capital A/c at time of re-issued?
Step by Step Solution
★★★★★
3.38 Rating (151 Votes )
There are 3 Steps involved in it
Step: 1
200 shares were re issued at Rs9 200 x 9 1800 securities premium of shares 200 s...
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
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started
Horngrens Financial and Managerial Accounting
Authors: Tracie L. Nobles, Brenda L. Mattison, Ella Mae Matsumura
4th Edition
978-0133251241, 9780133427516, 133251241, 013342751X, 978-0133255584
