CPT query -urgent- PLS HELP

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