{"id":52225,"date":"2024-04-15T23:36:15","date_gmt":"2024-04-15T23:36:15","guid":{"rendered":"https:\/\/exam.pscnotes.com\/mcq\/?p=52225"},"modified":"2024-04-15T23:36:15","modified_gmt":"2024-04-15T23:36:15","slug":"the-director-of-m-ltd-resolved-to-forfeit-2000-equity-shares-of-rs-10-each-rs-7-50-per-share-paid-up-for-non-payment-of-final-call-of-rs-2-50-per-share-1000-of-the-forfeited-shares-were-re","status":"publish","type":"post","link":"https:\/\/exam.pscnotes.com\/mcq\/the-director-of-m-ltd-resolved-to-forfeit-2000-equity-shares-of-rs-10-each-rs-7-50-per-share-paid-up-for-non-payment-of-final-call-of-rs-2-50-per-share-1000-of-the-forfeited-shares-were-re\/","title":{"rendered":"The director of &#8216;M&#8217; Ltd., resolved to forfeit 2,000 equity shares of Rs. 10 each Rs. 7.50 per share paid up for non-payment of Final call of Rs. 2.50 per share. 1,000 of the forfeited shares were reissued of Rs. 6 per share fully paid up. Capital Reserve Account will be credited by"},"content":{"rendered":"<p>\r\n    <!-- Check if it's an AMP page -->\r\n            <!-- Non-AMP version -->\r\n        <div class=\"mcq-container\" data-quiz-id=\"quizState_6a973ae730af1\">\r\n                                            <div class=\"option\" data-option-key=\"option1\" data-is-correct=\"false\">\r\n                    Rs. 3,500                <\/div>\r\n                                            <div class=\"option\" data-option-key=\"option2\" data-is-correct=\"false\">\r\n                    Rs. 7,500                <\/div>\r\n                                            <div class=\"option\" data-option-key=\"option3\" data-is-correct=\"true\">\r\n                    Rs. 9,000                <\/div>\r\n                                            <div class=\"option\" data-option-key=\"option4\" data-is-correct=\"false\">\r\n                    Rs. 11,000                <\/div>\r\n                            \r\n            <!-- Feedback messages for non-AMP -->\r\n            <div class=\"feedback\" data-feedback=\"wrong\">Answer is Right!<\/div>\r\n            <div class=\"feedback\" data-feedback=\"right\">Answer is Wrong!<\/div>\r\n        <\/div>\r\n\r\n        <script>\r\n        document.addEventListener('DOMContentLoaded', function () {\r\n            var containers = document.querySelectorAll('.mcq-container');\r\n\r\n            containers.forEach(function(container) {\r\n                var options = container.querySelectorAll('.option');\r\n                var feedbackSelect = container.querySelector('[data-feedback=\"select\"]');\r\n                var feedbackWrong = container.querySelector('[data-feedback=\"wrong\"]');\r\n                var feedbackRight = container.querySelector('[data-feedback=\"right\"]');\r\n\r\n                options.forEach(function(option) {\r\n                    option.addEventListener('click', function() {\r\n                        var selectedOption = option.getAttribute('data-option-key');\r\n                        var isCorrect = option.getAttribute('data-is-correct') === 'true';\r\n\r\n                        \/\/ Remove previous selections\r\n                        options.forEach(function(opt) {\r\n                            opt.classList.remove('correct', 'incorrect');\r\n                        });\r\n\r\n                        \/\/ Add the correct\/incorrect class\r\n                        if (isCorrect) {\r\n                            option.classList.add('correct');\r\n                            feedbackRight.hidden = false;\r\n                            feedbackWrong.hidden = true;\r\n                        } else {\r\n                            option.classList.add('incorrect');\r\n                            feedbackRight.hidden = true;\r\n                            feedbackWrong.hidden = false;\r\n                        }\r\n\r\n                        \/\/ Hide select feedback\r\n                        feedbackSelect.hidden = true;\r\n                    });\r\n                });\r\n            });\r\n        });\r\n        <\/script>\r\n    \r\n    <!--more--><\/p>\n<p>The correct answer is: <strong>C. Rs. 9,000<\/strong><\/p>\n<p>Explanation:<\/p>\n<p>The amount received on forfeiture of 2,000 shares = 2,000 x 7.50 = Rs. 15,000.<\/p>\n<p>The amount credited to <div class=\"youtube-subscribe-container\">\r\n        <a href=\"https:\/\/www.youtube.com\/channel\/UCNHT8lW-JmLC68rjBfZhdkg?sub_confirmation=1\" target=\"_blank\" class=\"youtube-subscribe-button\">\r\n            <span class=\"youtube-icon\">\r\n                <svg <div class=\"telegram-channel-container\">\r\n        <a href=\"https:\/\/t.me\/pscnotes2025\" target=\"_blank\" class=\"telegram-channel-button\">\r\n            <span class=\"telegram-icon\">\r\n                <svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 496 512\">\r\n                    <path fill=\"white\" d=\"M248,8C111,8,0,119,0,256s111,248,248,248s248-111,248-248S385,8,248,8z M362,177L320,367c-3,14-10,18-20,14l-56-41l-27,26 c-3,3-5,5-10,5l4-63L323,196c5-5-1-7-8-3l-98,62l-42-13c-9-3-10-9,2-14l162-63C351,160,365,164,362,177z\"\/>\r\n                <\/svg>\r\n            <\/span>\r\n            Join Our Telegram Channel\r\n        <\/a>\r\n    <\/div> xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 576 512\">\r\n                    <path d=\"M549.7 124.1c-6.3-23.7-24.8-42.3-48.3-48.6C458.8 64 288 64 288 64S117.2 64 74.6 75.5c-23.5 6.3-42 24.9-48.3 48.6-11.4 42.9-11.4 132.3-11.4 132.3s0 89.4 11.4 132.3c6.3 23.7 24.8 41.5 48.3 47.8C117.2 448 288 448 288 448s170.8 0 213.4-11.5c23.5-6.3 42-24.2 48.3-47.8 11.4-42.9 11.4-132.3 11.4-132.3s0-89.4-11.4-132.3zm-317.5 213.5V175.2l142.7 81.2-142.7 81.2z\"\/>\r\n                <\/svg>\r\n            <\/span>\r\n            Subscribe on YouTube\r\n        <\/a>\r\n    <\/div> Capital Reserve Account on reissue of 1,000 shares = 1,000 x 6 = Rs. 6,000.<\/p>\n<p>Therefore, the amount credited to Capital Reserve Account = 15,000 &#8211; 6,000 = Rs. 9,000.<\/p>\n<p>Let us now explain each option in brief:<\/p>\n<ul>\n<li>Option A: Rs. 3,500. This is the amount that would be credited to Capital Reserve Account if all 2,000 shares were reissued at Rs. 6 per share fully paid up. However, only 1,000 shares were reissued, so this option is incorrect.<\/li>\n<li>Option B: Rs. 7,500. This is the amount that would be credited to Capital Reserve Account if no shares were reissued. However, 1,000 shares were reissued, so this option is also incorrect.<\/li>\n<li>Option C: Rs. 9,000. This is the correct answer as explained above.<\/li>\n<li>Option D: Rs. 11,000. This is the amount that would be credited to Capital Reserve Account if all 2,000 shares were reissued at Rs. 10 per share fully paid up. However, only 1,000 shares were reissued, so this option is also incorrect.<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Join Our Telegram Channel Subscribe on YouTube<\/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":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v22.2 (Yoast SEO v23.3) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>The director of &#039;M&#039; Ltd., resolved to forfeit 2,000 equity shares of Rs. 10 each Rs. 7.50 per share paid up for non-payment of Final call of Rs. 2.50 per share. 1,000 of the forfeited shares were reissued of Rs. 6 per share fully paid up. 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