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Issue of share

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Querist : Anonymous

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Querist : Anonymous (Querist)
19 October 2011 Q.Deepak Ltd. Forfeited 40 shares of Rs.100 each (Rs.60 called up) issued at par to mukesh on which he had paid Rs.20 per share. out of these 30 share were reissued to sujay as Rs.60 paid up for Rs.45 per share. amount transfer to capital reserve will be -----

Ans : 150

How to calculate ?
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CA RICHA BADALIA

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CA RICHA BADALIA (Expert)
19 October 2011 Rs.20*40=800 forfeited transferred to share forfeiture A/c

As Rs. 60 shares issued for Rs. 45 Loss= Rs.15

Transferred to capital reserve-
= 20*30=600
(As 30 shares reissued)
-loss of 15*30=450
Therefore Rs (600-450) 150 transferred to capital reserve.
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