{"id":58911,"date":"2024-04-16T01:27:52","date_gmt":"2024-04-16T01:27:52","guid":{"rendered":"https:\/\/exam.pscnotes.com\/mcq\/?p=58911"},"modified":"2024-04-16T01:27:52","modified_gmt":"2024-04-16T01:27:52","slug":"a-limited-company-forfeited-100-shares-of-rs-10-each-fully-called-up-on-which-rs-4-per-share-was-paid-up-the-company-reissued-50-shares-at-the-rate-of-rs-8-each-the-amount-transferred-to-capital","status":"publish","type":"post","link":"https:\/\/exam.pscnotes.com\/mcq\/a-limited-company-forfeited-100-shares-of-rs-10-each-fully-called-up-on-which-rs-4-per-share-was-paid-up-the-company-reissued-50-shares-at-the-rate-of-rs-8-each-the-amount-transferred-to-capital\/","title":{"rendered":"A limited company forfeited 100 shares of Rs. 10 each fully called up on which Rs. 4 per share was paid up. The company reissued 50 shares at the rate of Rs. 8 each. The amount transferred to Capital Reserve will be"},"content":{"rendered":"<p>[amp_mcq option1=&#8221;Rs. 500&#8243; option2=&#8221;Rs. 200&#8243; option3=&#8221;Rs. 250&#8243; option4=&#8221;Rs. 100&#8243; correct=&#8221;option4&#8243;]<!--more--><\/p>\n<p>The correct answer is: D. Rs. 100<\/p>\n<p>Explanation:<\/p>\n<p>The amount transferred to Capital Reserve will be the difference between the amount received on reissue of shares and the amount paid up on forfeited shares.<\/p>\n<p>In this case, the amount received on reissue of shares is Rs. 400 (50 shares x Rs. 8 each). The amount paid up on forfeited shares is Rs. 400 (100 shares x Rs. 4 each).<\/p>\n<p>Therefore, the amount transferred to Capital Reserve is Rs. 100 (Rs. 400 &#8211; Rs. 300).<\/p>\n<p>Option A is incorrect because it is the total amount received on reissue of shares.<\/p>\n<p>Option B is incorrect because it is the total amount paid up on forfeited shares.<\/p>\n<p>Option C is incorrect because it is the average of the amount received on reissue of shares and the amount paid up on forfeited shares.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>[amp_mcq option1=&#8221;Rs. 500&#8243; option2=&#8221;Rs. 200&#8243; option3=&#8221;Rs. 250&#8243; option4=&#8221;Rs. 100&#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-58911","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>A limited company forfeited 100 shares of Rs. 10 each fully called up on which Rs. 4 per share was paid up. The company reissued 50 shares at the rate of Rs. 8 each. The amount transferred to Capital Reserve will be<\/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\/a-limited-company-forfeited-100-shares-of-rs-10-each-fully-called-up-on-which-rs-4-per-share-was-paid-up-the-company-reissued-50-shares-at-the-rate-of-rs-8-each-the-amount-transferred-to-capital\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"A limited company forfeited 100 shares of Rs. 10 each fully called up on which Rs. 4 per share was paid up. The company reissued 50 shares at the rate of Rs. 8 each. The amount transferred to Capital Reserve will be\" \/>\n<meta property=\"og:description\" content=\"[amp_mcq option1=&#8221;Rs. 500&#8243; option2=&#8221;Rs. 200&#8243; option3=&#8221;Rs. 250&#8243; option4=&#8221;Rs. 100&#8243; correct=&#8221;option4&#8243;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/exam.pscnotes.com\/mcq\/a-limited-company-forfeited-100-shares-of-rs-10-each-fully-called-up-on-which-rs-4-per-share-was-paid-up-the-company-reissued-50-shares-at-the-rate-of-rs-8-each-the-amount-transferred-to-capital\/\" \/>\n<meta property=\"og:site_name\" content=\"MCQ and Quiz for Exams\" \/>\n<meta property=\"article:published_time\" content=\"2024-04-16T01:27:52+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":"A limited company forfeited 100 shares of Rs. 10 each fully called up on which Rs. 4 per share was paid up. The company reissued 50 shares at the rate of Rs. 8 each. The amount transferred to Capital Reserve will be","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\/a-limited-company-forfeited-100-shares-of-rs-10-each-fully-called-up-on-which-rs-4-per-share-was-paid-up-the-company-reissued-50-shares-at-the-rate-of-rs-8-each-the-amount-transferred-to-capital\/","og_locale":"en_US","og_type":"article","og_title":"A limited company forfeited 100 shares of Rs. 10 each fully called up on which Rs. 4 per share was paid up. The company reissued 50 shares at the rate of Rs. 8 each. The amount transferred to Capital Reserve will be","og_description":"[amp_mcq option1=&#8221;Rs. 500&#8243; option2=&#8221;Rs. 200&#8243; option3=&#8221;Rs. 250&#8243; option4=&#8221;Rs. 100&#8243; correct=&#8221;option4&#8243;]","og_url":"https:\/\/exam.pscnotes.com\/mcq\/a-limited-company-forfeited-100-shares-of-rs-10-each-fully-called-up-on-which-rs-4-per-share-was-paid-up-the-company-reissued-50-shares-at-the-rate-of-rs-8-each-the-amount-transferred-to-capital\/","og_site_name":"MCQ and Quiz for Exams","article_published_time":"2024-04-16T01:27:52+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\/a-limited-company-forfeited-100-shares-of-rs-10-each-fully-called-up-on-which-rs-4-per-share-was-paid-up-the-company-reissued-50-shares-at-the-rate-of-rs-8-each-the-amount-transferred-to-capital\/","url":"https:\/\/exam.pscnotes.com\/mcq\/a-limited-company-forfeited-100-shares-of-rs-10-each-fully-called-up-on-which-rs-4-per-share-was-paid-up-the-company-reissued-50-shares-at-the-rate-of-rs-8-each-the-amount-transferred-to-capital\/","name":"A limited company forfeited 100 shares of Rs. 10 each fully called up on which Rs. 4 per share was paid up. 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