{"id":58185,"date":"2024-04-16T01:15:06","date_gmt":"2024-04-16T01:15:06","guid":{"rendered":"https:\/\/exam.pscnotes.com\/mcq\/?p=58185"},"modified":"2024-04-16T01:15:06","modified_gmt":"2024-04-16T01:15:06","slug":"x-ltd-forfeited-30-shares-of-rs-10-each-fully-called-up-for-non-payment-of-allotment-money-of-rs-3-per-share-and-call-money-of-rs-4-per-share-these-share-were-re-issued-for-rs-8-per-share-fully","status":"publish","type":"post","link":"https:\/\/exam.pscnotes.com\/mcq\/x-ltd-forfeited-30-shares-of-rs-10-each-fully-called-up-for-non-payment-of-allotment-money-of-rs-3-per-share-and-call-money-of-rs-4-per-share-these-share-were-re-issued-for-rs-8-per-share-fully\/","title":{"rendered":"X Ltd. forfeited 30 shares of Rs. 10 each fully called up for non payment of allotment money of Rs. 3 per share and call money of Rs. 4 per share. These share were re-issued for Rs. 8 per share fully paid. What is the amount to be transferred to Capital Reserve A\/c:"},"content":{"rendered":"<p>[amp_mcq option1=&#8221;Rs. 300&#8243; option2=&#8221;Rs. 60&#8243; option3=&#8221;Rs. 30&#8243; option4=&#8221;Rs. 90&#8243; correct=&#8221;option4&#8243;]<!--more--><\/p>\n<p>The correct answer is D. Rs. 90.<\/p>\n<p>Explanation:<\/p>\n<p>The amount received on re-issue of forfeited shares = Rs. 8 x 30 = Rs. 240.<br \/>\nThe amount forfeited on each share = Rs. 10 &#8211; Rs. 3 &#8211; Rs. 4 = Rs. 3.<br \/>\nThe amount to be transferred to Capital Reserve A\/c = Rs. 3 x 30 = Rs. 90.<\/p>\n<p>Option A is incorrect because it is the total amount received on re-issue of forfeited shares.<br \/>\nOption B is incorrect because it is the amount received on re-issue of forfeited shares less the amount forfeited on each share.<br \/>\nOption C is incorrect because it is the amount forfeited on each share.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>[amp_mcq option1=&#8221;Rs. 300&#8243; option2=&#8221;Rs. 60&#8243; option3=&#8221;Rs. 30&#8243; option4=&#8221;Rs. 90&#8243; correct=&#8221;option4&#8243;]<\/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-58185","post","type-post","status-publish","format-standard","hentry","category-accounting","no-featured-image-padding"],"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>X Ltd. forfeited 30 shares of Rs. 10 each fully called up for non payment of allotment money of Rs. 3 per share and call money of Rs. 4 per share. These share were re-issued for Rs. 8 per share fully paid. What is the amount to be transferred to Capital Reserve A\/c:<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/exam.pscnotes.com\/mcq\/x-ltd-forfeited-30-shares-of-rs-10-each-fully-called-up-for-non-payment-of-allotment-money-of-rs-3-per-share-and-call-money-of-rs-4-per-share-these-share-were-re-issued-for-rs-8-per-share-fully\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"X Ltd. forfeited 30 shares of Rs. 10 each fully called up for non payment of allotment money of Rs. 3 per share and call money of Rs. 4 per share. These share were re-issued for Rs. 8 per share fully paid. What is the amount to be transferred to Capital Reserve A\/c:\" \/>\n<meta property=\"og:description\" content=\"[amp_mcq option1=&#8221;Rs. 300&#8243; option2=&#8221;Rs. 60&#8243; option3=&#8221;Rs. 30&#8243; option4=&#8221;Rs. 90&#8243; correct=&#8221;option4&#8243;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/exam.pscnotes.com\/mcq\/x-ltd-forfeited-30-shares-of-rs-10-each-fully-called-up-for-non-payment-of-allotment-money-of-rs-3-per-share-and-call-money-of-rs-4-per-share-these-share-were-re-issued-for-rs-8-per-share-fully\/\" \/>\n<meta property=\"og:site_name\" content=\"MCQ and Quiz for Exams\" \/>\n<meta property=\"article:published_time\" content=\"2024-04-16T01:15:06+00:00\" \/>\n<meta name=\"author\" content=\"rawan239\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"rawan239\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"X Ltd. forfeited 30 shares of Rs. 10 each fully called up for non payment of allotment money of Rs. 3 per share and call money of Rs. 4 per share. These share were re-issued for Rs. 8 per share fully paid. What is the amount to be transferred to Capital Reserve A\/c:","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/exam.pscnotes.com\/mcq\/x-ltd-forfeited-30-shares-of-rs-10-each-fully-called-up-for-non-payment-of-allotment-money-of-rs-3-per-share-and-call-money-of-rs-4-per-share-these-share-were-re-issued-for-rs-8-per-share-fully\/","og_locale":"en_US","og_type":"article","og_title":"X Ltd. forfeited 30 shares of Rs. 10 each fully called up for non payment of allotment money of Rs. 3 per share and call money of Rs. 4 per share. These share were re-issued for Rs. 8 per share fully paid. What is the amount to be transferred to Capital Reserve A\/c:","og_description":"[amp_mcq option1=&#8221;Rs. 300&#8243; option2=&#8221;Rs. 60&#8243; option3=&#8221;Rs. 30&#8243; option4=&#8221;Rs. 90&#8243; correct=&#8221;option4&#8243;]","og_url":"https:\/\/exam.pscnotes.com\/mcq\/x-ltd-forfeited-30-shares-of-rs-10-each-fully-called-up-for-non-payment-of-allotment-money-of-rs-3-per-share-and-call-money-of-rs-4-per-share-these-share-were-re-issued-for-rs-8-per-share-fully\/","og_site_name":"MCQ and Quiz for Exams","article_published_time":"2024-04-16T01:15:06+00:00","author":"rawan239","twitter_card":"summary_large_image","twitter_misc":{"Written by":"rawan239","Est. reading time":"1 minute"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/exam.pscnotes.com\/mcq\/x-ltd-forfeited-30-shares-of-rs-10-each-fully-called-up-for-non-payment-of-allotment-money-of-rs-3-per-share-and-call-money-of-rs-4-per-share-these-share-were-re-issued-for-rs-8-per-share-fully\/","url":"https:\/\/exam.pscnotes.com\/mcq\/x-ltd-forfeited-30-shares-of-rs-10-each-fully-called-up-for-non-payment-of-allotment-money-of-rs-3-per-share-and-call-money-of-rs-4-per-share-these-share-were-re-issued-for-rs-8-per-share-fully\/","name":"X Ltd. forfeited 30 shares of Rs. 10 each fully called up for non payment of allotment money of Rs. 3 per share and call money of Rs. 4 per share. These share were re-issued for Rs. 8 per share fully paid. What is the amount to be transferred to Capital Reserve A\/c:","isPartOf":{"@id":"https:\/\/exam.pscnotes.com\/mcq\/#website"},"datePublished":"2024-04-16T01:15:06+00:00","dateModified":"2024-04-16T01:15:06+00:00","author":{"@id":"https:\/\/exam.pscnotes.com\/mcq\/#\/schema\/person\/5807dafeb27d2ec82344d6cbd6c3d209"},"breadcrumb":{"@id":"https:\/\/exam.pscnotes.com\/mcq\/x-ltd-forfeited-30-shares-of-rs-10-each-fully-called-up-for-non-payment-of-allotment-money-of-rs-3-per-share-and-call-money-of-rs-4-per-share-these-share-were-re-issued-for-rs-8-per-share-fully\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/exam.pscnotes.com\/mcq\/x-ltd-forfeited-30-shares-of-rs-10-each-fully-called-up-for-non-payment-of-allotment-money-of-rs-3-per-share-and-call-money-of-rs-4-per-share-these-share-were-re-issued-for-rs-8-per-share-fully\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/exam.pscnotes.com\/mcq\/x-ltd-forfeited-30-shares-of-rs-10-each-fully-called-up-for-non-payment-of-allotment-money-of-rs-3-per-share-and-call-money-of-rs-4-per-share-these-share-were-re-issued-for-rs-8-per-share-fully\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/exam.pscnotes.com\/mcq\/"},{"@type":"ListItem","position":2,"name":"mcq","item":"https:\/\/exam.pscnotes.com\/mcq\/category\/mcq\/"},{"@type":"ListItem","position":3,"name":"accounting","item":"https:\/\/exam.pscnotes.com\/mcq\/category\/mcq\/accounting\/"},{"@type":"ListItem","position":4,"name":"X Ltd. forfeited 30 shares of Rs. 10 each fully called up for non payment of allotment money of Rs. 3 per share and call money of Rs. 4 per share. These share were re-issued for Rs. 8 per share fully paid. What is the amount to be transferred to Capital Reserve A\/c:"}]},{"@type":"WebSite","@id":"https:\/\/exam.pscnotes.com\/mcq\/#website","url":"https:\/\/exam.pscnotes.com\/mcq\/","name":"MCQ and Quiz for Exams","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/exam.pscnotes.com\/mcq\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/exam.pscnotes.com\/mcq\/#\/schema\/person\/5807dafeb27d2ec82344d6cbd6c3d209","name":"rawan239","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/exam.pscnotes.com\/mcq\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/761a7274f9cce048fa5b921221e7934820d74514df93ef195a9d22af0c1c9001?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/761a7274f9cce048fa5b921221e7934820d74514df93ef195a9d22af0c1c9001?s=96&d=mm&r=g","caption":"rawan239"},"sameAs":["https:\/\/exam.pscnotes.com"],"url":"https:\/\/exam.pscnotes.com\/mcq\/author\/rawan239\/"}]}},"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/exam.pscnotes.com\/mcq\/wp-json\/wp\/v2\/posts\/58185","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/exam.pscnotes.com\/mcq\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/exam.pscnotes.com\/mcq\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/exam.pscnotes.com\/mcq\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/exam.pscnotes.com\/mcq\/wp-json\/wp\/v2\/comments?post=58185"}],"version-history":[{"count":0,"href":"https:\/\/exam.pscnotes.com\/mcq\/wp-json\/wp\/v2\/posts\/58185\/revisions"}],"wp:attachment":[{"href":"https:\/\/exam.pscnotes.com\/mcq\/wp-json\/wp\/v2\/media?parent=58185"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/exam.pscnotes.com\/mcq\/wp-json\/wp\/v2\/categories?post=58185"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/exam.pscnotes.com\/mcq\/wp-json\/wp\/v2\/tags?post=58185"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}