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A Ltd. forfeited a share of Rs. 100 issu...

A Ltd. forfeited a share of Rs. 100 issued at a premium of 20% for non-payment of first call of Rs. 30 per share and final call of Rs. 10 per share. State the minimum price at which this share can be reissued.

Text Solution

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Minimum price at which share can be reissued = Rs. 100 - Rs. 60 = Rs. 40.
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