A company forfieted 1,000 shares on 10 each (which ere issued at par) held by Saurabh...
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A company forfieted 1,000 shares on 10 each (which ere issued at par) held by Saurabh for non-payment of allotment money of Rs. 4 per share. The called-up value per share was t 8. On forfeiture, the amount debited to share capital account will be A B C D Rs. 10,000 Rs. 8,000 Rs. 2,000 Rs. 18,000 A company forfieted 1,000 shares on 10 each (which ere issued at par) held by Saurabh for non-payment of allotment money of Rs. 4 per share. The called-up value per share was t 8. On forfeiture, the amount debited to share capital account will be A B C D Rs. 10,000 Rs. 8,000 Rs. 2,000 Rs. 18,000
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Forfeiture of shares occurs when the shareholders fail to ... View the full answer
Related Book For
Fundamentals of Financial Accounting
ISBN: 978-0078025914
5th edition
Authors: Fred Phillips, Robert Libby, Patricia Libby
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