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Y Ltd. forfeited 100 equity shares of Rs...

Y Ltd. forfeited 100 equity shares of Rs. 10 each for non-payment of first call of Rs. 2 per share. The final call of Rs. 2 per share was yet to be made.
Calculate the maximum amount of discount at which these shares can be reissued.

Text Solution

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Maximum amount of discount which can be allowed on reissue of 100 shares `= 100xx Rs. 6 = Rs. 600` .
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