CPT query -urgent- PLS HELP

Can someone pls solve it for me?

1. Mr. Yogesh holder of 700 shares of Rs 100/- each in KFC Ltd. upon which 50 per share had been called up but he had paid only Rs 25 per share. The Co. forfeited his shares and afterwards sold them to Kamlesh credited as Rs 50 per share paid for Rs. 25000. The amount to be transferred to captical reserve is?

Ans= 7500

2. M, N and O are partners sharing p&L in the ratio 3:2:1. P joins the firm & gets 2/10th of share in the ratio 1:1 from M & N. Calculate new ratio.

Ans= 12:7:5:6

Replies (6)

amt forfeited=rs 17500

amt utilzed on reissue= rs 10000

amt to be trans. to c/r = 17500 - 10000=7500

Hi Jasmin.....

Old Ratio is 3:2:1.

Ratio od P = 2/10 i.e 1/10 from M and 1/10 from N

New Ratio :

M - 3/6*1/10 = 30-6/60 = 24/60

N - 2/6*1/10 = 20-6/60 = 14/60

O - 1/6 * 10/10 = 10/60

P - 2/10 * 6/6 = 12/60

New Ratio = 24:14:10:12 Devide by 2

12:7:5:6.

Total shares forfieted = 700 * 25 = 17500 Cr balance is share forfieture a/c

Reissued 500 Shares @ 50Rs.

Balance shares we have in hand is 200 *50 = 10000 Dr Balance in Share forfieture a/c

7500 will be Capital reserve

 

 

 

Thank u so much......cud u pls solve for me this also....

X ltd forfeited 400 shares of Rs 10/- each fully called up, on which the holder paid only application money of Rs 4/- per share. Out of these 250 shares were reissued at Rs 12/- per share fully paid up. Capital Reserve will be credited with? Ans = 1000

You are welcome. The answer is simple in this

Forfieture account will have a credit balance of  1600 cr (400*4)

When 250 shares are re issued only 150 shares will be availabe for reissue.

So the share forfieture account will continue with the balance amount pertaining to 150 shares i.e 150*4 = 600

So 1600 Cr - 600 Dr the balance of 1000 will be transferred to Capital Reserve.

Simple is (400*4 ) - (150*4)  Difference will be transferred to Capital Reserve.

1600-600 = 1000

Many thanks to you once again !

Most Welcome

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
12 October 2026
AUDIT , ACCOUNTS AND TAXATION

KDSS

New Delhi

B.Com

View Details
Company
ARTICLESHIP 30 September 2026
CA Article Assistant

CA Suraj Garg & Associates

New Delhi

CA Final

View Details
Company
05 October 2026
Senior Accountant

Vision IT Peripherals Pvt Ltd

Mumbai

B.Com

View Details
Company
14 October 2026
Asst. Manager/Dy Manager (Costing)

manufacturing

Pune

CMA

View Details
Company
Featured ARTICLESHIP 06 October 2026
Semi Qualified

AJAY SINGH AND CO LLP

Thane

CA Final

View Details
Company
Featured 03 October 2026
Accountant

A P Lodha and Associates

Jalna

B.Com

View Details
Company
19 October 2026
Accountants/Articles (Freshers/Experienced)

ADY & CO.

New Delhi

Graduate (Any)

View Details
Company
ARTICLESHIP 17 October 2026
Articled Assistant

RRPM & Associates LLP

Chennai

CA Inter

View Details