Z Limited forfeited 4000 equity shares of rupees 10 each issued at a premium of 20% for the non payment of the final call of rupees 2 per share .calculate the maximum amount of discount at which these shares can be reissued

Dear student

​​​​​​Entry for foreiture:
share capital A/c.        Dr  40000
       To share final call A/c.              8000
       To share forfeiture A/c.             32000

Thus Maximum discount or loss on reissue that can be adjusted = Rs 32000

Maximum discount = Rs 32000

I hope it helps you. 
Regards