Question:
MK Ltd. forfeited 100 shares of 10 each. The amount forfeited was 800. The maximum discount per share at which these shares may be reissued will be:
MK Ltd. forfeited 100 shares of 10 each. The amount forfeited was 800. The maximum discount per share at which these shares may be reissued will be:
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Maximum discount on reissue = Amount forfeited per share. Always compare forfeited amount before allowing discount.
Updated On: Jul 15, 2025
- 2
- 9
- 1
- 8
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The Correct Option is D
Solution and Explanation
Step 1: Total amount forfeited = 800 for 100 shares \(\Rightarrow\) 8 per share forfeited
Step 2: As per the Companies Act, shares cannot be reissued at a discount more than the amount forfeited.
\(\Rightarrow\) Maximum discount per share = 8
Step 2: As per the Companies Act, shares cannot be reissued at a discount more than the amount forfeited.
\(\Rightarrow\) Maximum discount per share = 8
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