Durga prasad (Student CA CPT ) (116 Points)
13 June 2013
K K Klasses
(CA)
(529 Points)
Replied 13 June 2013
Capital Reserver would be 6400 being the profit earned on forfeited share
You have already received Rs 8 on 800 shares i.e. 6400.
If you have re-issued at discount, the difference of Face value and paid value will be adjusted from the Rs. 6400 and balance capital reserve.
however in present, you have re-issued at fully paid up. i.e. entire amount already forfeited is your gain so Rs. 6400 is your capital reserve.
Enjoy with Rs. 6400 and hope it would satisfy your query
For any query, pls call 9910993376 or 9810993376
mahalakshmi grandhi
(ARTICLE ASSISTANT)
(27 Points)
Replied 13 June 2013
share final call amt already posted in books of accounts is 800*2=1600
but this amount is not yet received now bcz of forfeiture so treated as loss for under standing
reissued amt is 800*10=8000.
capital resrve(profit on forfeiture) is AMOUNT ON REISSUE-AMT NOT RECEIVED IF ANY AFTER FORFEITURE i.e call money or any thing
8000-1600=6400.
CAclubindia
