Urgent pls company account

50 shares 100/each were forfeited issued at premium of 10% 

allot-30(includin premium)

1st call-30

2nd call-20

defaulted at allot stage & forfeited upon subsequent failure to pay call money........

20 of these shares reissued 

80 called up for 80/share..profit on re issue?

pls xplain wth detailed ans its urgent pls....

 

Replies (7)

ADVANCED ACCOUNTS

                                       

For C. A. – IPCC - II

By

CA. AJAI KUMAR SINGH

B.Com, FCA, AICWA(ACMA), PGDCA

 

Specialized and Result Oriented Coaching Classes For  CA Students in Lucknow under The Guidance of: CA Ajai Kumar Singh, B.Com, FCA, ACMA, PGDCA, Gold Medalist and National Award Holder and other Renowned Professionals.

 

 

AIMS (Institute of Commerce)

 

HAZRATGANJ

320, Prince Complex,

Naval Kishore Road, Hazratganj,

Lucknow - 226001

Landmark: Near Sahu Picture Hall

Contact Nos.: 0522-4060739, 9451246089, 9335746089

 

what mr harish asked and what is your reply ms. aishwarya....?

Aishwarya says, he should go to AIMS (Institute of Commerce) for getting that query resolved!!!

You have written the data in short. I didnt get your data completly . I am providing you the link for a ans of similar question. I hope your query will be solved:-

 

/forum/please-help-me-on-finding-out-the-answer-for-forfeiture-shar-222184.asp#.ULiJZFJK31U

ya the information provided is not full and clear... the answser provided by Mr. CAManish Malu would resolve... as that is giving the clarifty of the concept....

 

Originally posted by : harish ragav

50 shares 100/each were forfeited issued at premium of 10% 

allot-30(includin premium)

1st call-30

2nd call-20

defaulted at allot stage & forfeited upon subsequent failure to pay call money........

20 of these shares reissued 

80 called up for 80/share..profit on re issue?

pls xplain wth detailed ans its urgent pls....

 

 

Harish i am not clear on your question but  i am replying on assumption....company received Rs.20 per share at the time of application and same amount is offered as discount i.e Rs.20 per share on reissue therfor no profit no loss situation. or if only 20 per share is received than loss is of Rs.20 per share (original price is 120, 20 received on application,reissued at 80 therfor 120-20-80=20 loss per share)

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