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Class 12th Accountancy 2017 Set1 Delhi Board Paper Solution

Question 5

Y Ltd. forfeited 100 equity shares of  â‚¹10 each for the non-payment of first call of  â‚¹2 per share. The final call of  â‚¹2 per share was yet to be made.

Calculate the maximum amount of discount at which these shares can be re-issued.

Answer

The maximum amount of discount at which these shares can be re-issued is  â‚¹6 per share or  â‚¹600.