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Sakshi Ltd. forfeited 500… (Class 12 Accountancy 2026, Q12)

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AccountancyCBSE Class 12 · Board exam 2026, set 67/1/1 · 1 mark · MCQ

CBSE Class 12 Accountancy 2026: question 12

Set in the CBSE Class 12 board exam of 2026, paper 67/1/1, section A, question 12, for 1 mark. Try it first; the hints and our step-by-step solution are below.

Q12 · 1 mark · MCQAccounting for Share Capital

Sakshi Ltd. forfeited 500 equity shares of ₹ 10 each, issued at a premium of ₹ 2 per share for non-payment of second and final call of ₹ 4 per share (including premium).

The maximum amount of discount at which these shares can be reissued is :

  1. (A)₹ 1 per share
  2. (B)₹ 6 per share
  3. (C)₹ 8 per share
  4. (D)₹ 5 per share

Source: official question paper from cbse.gov.in (PDF). See it in the full 2026 board paper, set 67/1/1.

Hints

Open one hint at a time and try again before the next.

Hint 1

How much of the unpaid call was premium?

Hint 2

Maximum discount = amount forfeited per share.

Step-by-step solution

Each step shows the marks it earns, as an examiner would award them. Checked by an independent re-solve from the question paper.

  1. The unpaid final call of ₹ 4 includes the ₹ 2 premium, so its capital part is ₹ 2. Capital received per share = ₹ 10 − ₹ 2 = ₹ 8.

  2. The discount on reissue cannot exceed the amount forfeited: maximum ₹ 8 per share. Option (C).

    1 mark

Answer: (C) ₹ 8 per share

Where the marks are

  • Maximum discount = capital forfeited ₹ 8 (1 mark)

Revise the chapter

Practise this chapterBoard-style questions from Accounting for Share Capital, one at a time, marked against the answer key and marking points.Back to the full paper2026 board paper, set 67/1/1: every question, by section.

The question is transcribed from the official paper; figures are described in words. The solution, hints and chapter tag are ours. Spotted an error? Write tosupport@questionbuddy.in.