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प्रश्न
Chandra Paints Ltd. invited applications for issuing 4,00,000 shares of ₹100 each at par. The amount was payable as follows:
| On Application | ₹40 |
| On Allotment | ₹30 |
| On First and Final Call | ₹30 |
Applications were received for 5,00,000 shares. Applications for 20,000 shares were rejected, full allotment was made on applications for 80,000 shares and pro-rata allotment was made to the remaining applicants. All calls were made and were duly received except first and final call from Somesh who applied for 5,000 shares and was allotted shares under pro-rata category. His shares were forfeited.
Amount Credited to Share Forfeiture Account will be:
विकल्प
₹3,20,000
₹3,50,000
₹3,10,000
₹2,80,000
MCQ
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उत्तर
₹2,80,000
Explanation:
Scheme of Allotment:
| Shares Applied | Allotted | |
| Rejected | 20,000 | - |
| Full Allotment | 80,000 | 80,000 |
| Pro-rata Allotment (5,00,000 − 20,000 − 80,000) | 4,00,000 | 3,20,000 |
| 5,00,000 | 4,00,000 |
Shares Allotted to Somesh `= 5000xx320000/400000`
= 4,000
Entry for Forfeiture of Shares:
| Date | Particulars | L.F. | Debit (₹) | Credit (₹) |
| 1. | Share Capital A/c (4,000 × ₹100) | 4,00,000 | ||
| To Share First and Final Call A/c (4,000 × ₹30) | 1,20,000 | |||
| To Share Forfeiture A/c | 2,80,000 |
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