{"id":51300,"date":"2024-04-15T23:22:50","date_gmt":"2024-04-15T23:22:50","guid":{"rendered":"https:\/\/exam.pscnotes.com\/mcq\/?p=51300"},"modified":"2024-04-15T23:22:50","modified_gmt":"2024-04-15T23:22:50","slug":"x-ltd-forfeited-20-shares-of-rs-10-each-on-which-rs-6-per-share-was-paid-if-out-of-these-8-shares-were-reissued-to-hari-as-fully-paid-on-payment-of-rs-5-50-per-share-what-would-be-the-amount-to","status":"publish","type":"post","link":"https:\/\/exam.pscnotes.com\/mcq\/x-ltd-forfeited-20-shares-of-rs-10-each-on-which-rs-6-per-share-was-paid-if-out-of-these-8-shares-were-reissued-to-hari-as-fully-paid-on-payment-of-rs-5-50-per-share-what-would-be-the-amount-to\/","title":{"rendered":"X Ltd. forfeited 20 shares of Rs. 10 each on which Rs. 6 per share was paid. If out of these, 8 shares were reissued to Hari as fully paid on payment of Rs. 5.50 per share what would be the amount to the credit of share forfeited A\/c:"},"content":{"rendered":"

[amp_mcq option1=”Rs. 48″ option2=”Rs. 72″ option3=”Rs. 84″ option4=”Rs. 120″ correct=”option1″]<\/p>\n

The correct answer is A. Rs. 48.<\/p>\n

Explanation:
\nThe amount to the credit of share forfeited A\/c is calculated as follows:<\/p>\n

Shares forfeited = 20
\nShares reissued = 8
\nAmount received on reissue = 8 * 5.50 = 44
\nAmount to the credit of share forfeited A\/c = 20 * 6 – 44 = 48<\/p>\n

Option B is incorrect because it is the total amount received on reissue of shares.
\nOption C is incorrect because it is the total amount received on forfeiture of shares.
\nOption D is incorrect because it is the total amount received on reissue of shares plus the total amount received on forfeiture of shares.<\/p>\n","protected":false},"excerpt":{"rendered":"

[amp_mcq option1=”Rs. 48″ option2=”Rs. 72″ option3=”Rs. 84″ option4=”Rs. 120″ correct=”option1″]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[85],"tags":[],"class_list":["post-51300","post","type-post","status-publish","format-standard","hentry","category-accounting","no-featured-image-padding"],"yoast_head":"\nX Ltd. forfeited 20 shares of Rs. 10 each on which Rs. 6 per share was paid. 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