ABC Ltd forfeited 20 shares of rs 10 each, Rs. 8 called up, on which X...

   

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ABC Ltd forfeited 20 shares of rs 10 each, Rs. 8 called up, on which X paid application and allotment money of Rs. 2 and Rs. 3 respectively. These shares were re issued to Y at 6 fully paid. What was the balance in share forfeiture account before shares were re- issued? ABC Ltd forfeited 20 shares of rs 10 each, Rs. 8 called up, on which X paid application and allotment money of Rs. 2 and Rs. 3 respectively. These shares were re issued to Y at 6 fully paid. What was the balance in share forfeiture account before shares were re- issued?

Answer rating: 100% (QA)

Shares forfeiture account contains the balance ... View the full answer