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Merak Ltd. forfeited… (Class 12 Accountancy 2026, Q3a)

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AccountancyCBSE Class 12 · Board exam 2026, set 67/5/1 · 1 mark · MCQ

CBSE Class 12 Accountancy 2026: question 3(a)

Set in the CBSE Class 12 board exam of 2026, paper 67/5/1, section A, question 3(a), for 1 mark. Try it first; the hints and our step-by-step solution are below.

Q3(a) · 1 mark · MCQAccounting for Share Capital

Merak Ltd. forfeited 6,000 equity shares of ₹ 10 each for non-payment of final call of ₹ 3 per share. The minimum amount per share at which these shares can be reissued will be :

  1. (A)₹ 3
  2. (B)₹ 7
  3. (C)₹ 10
  4. (D)₹ 6

Source: official question paper from cbse.gov.in (PDF). See it in the full 2026 board paper, set 67/5/1.

Hints

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

Hint 1

How much per share was forfeited?

Hint 2

The maximum discount on reissue equals the forfeited amount.

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 final call of ₹ 3 was unpaid, so ₹ 7 per share had been received and is forfeited.

  2. The discount on reissue cannot exceed the amount forfeited, so the minimum reissue price is ₹ 10 − ₹ 7 = ₹ 3 per share. Option (A).

    1 mark

Answer: (A) ₹ 3

Where the marks are

  • Minimum price = face value − amount forfeited (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 67/5/1: 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.