X was issued 500 shares of ABC Ltd. at Rs.12 including Rs.2 premium. He paid only...

 

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X was issued 500 shares of ABC Ltd. at Rs.12 including Rs.2 premium. He paid only application money of Rs.3 and failed to pay the allotment money of Rs.4 including premium. Consequently his shares were forfeited. Y was also allotted 400 shares he paid Rs.3 on application, Rs.4 at the time of allotment and failed to pay the call money of Rs.5. His shares were also subsequently forfeited. The company subsequently re- issued 800 shares at Rs.8 fully paid up as Rs.10. Find the amount left in share forfeited A/c. X was issued 500 shares of ABC Ltd. at Rs.12 including Rs.2 premium. He paid only application money of Rs.3 and failed to pay the allotment money of Rs.4 including premium. Consequently his shares were forfeited. Y was also allotted 400 shares he paid Rs.3 on application, Rs.4 at the time of allotment and failed to pay the call money of Rs.5. His shares were also subsequently forfeited. The company subsequently re- issued 800 shares at Rs.8 fully paid up as Rs.10. Find the amount left in share forfeited A/c.

Answer rating: 100% (QA)

Amount left in share forfeited Ac 50044005 8008 20006400 4400 Explanatioin A... View the full answer