Practice question
Question
Pragya Ltd. forfeited 8,000 equity shares of ₹ 100 each issued at a premium of 10% for non-payment of first and final call of ₹ 30 per share. The maximum amount of discount at which these shares can be reissued will be
Explanation
₹ 2,40,000 company accounts correct; share issue forfeiture pro-rata per Companies Act.
Discussion
Comments
Please log in to join the discussion.
Login to commentNo comments yet. Be the first to start the discussion.