Z Ltd. forfeited 200 shares of Rs 100 each, issued at 10% premium for non-payment of allotment money of Rs 50 per share (including
Z Ltd. forfeited 200 shares of Rs 100 each, issued at 10% premium for non-payment of allotment money of Rs 50 per share (including premium), first call of Rs 40 per share and a second and final call of Rs 10 per share. Out of these 80 shares were re- issued as fully paid-up for Rs 95 per share. The profit on re-issue is A B C D Rs 2,000 Rs 1,600 Rs 400 None of these
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Correct option is C Forfeiture amount per share is the amount to be received by the compan...
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Authors: Jeffrey M. Perloff, James A. Brander
2nd edition
134167879, 134167872, 9780134168319 , 978-0134167879
