Question

Jeevan Ltd. forfeited 50 shares of ₹100 each on which allotment money of ₹30 per share (including premium of ₹10 per share) and first call of ₹30 per share was not received. The second and final call of ₹20 per share was not yet made. The amount credited to ‘Share Forfeiture Account’ on forfeiture of these shares will be:

विकल्प

• ₹2,500

• ₹2,000

• ₹5,000

• ₹1,500

Answer 1

₹1,500

Explanation:

Called-up (capital only): 20 + 20 + 30 = ₹70

= 70 × 50 = ₹3,500

Unpaid premium: ₹10

= 10 × 50 = ₹500

Unpaid on Allotment (balance, excl. prem received): ₹20

= 20 × 50 = ₹1,000

Unpaid First Call: ₹30

= 30 × 50 = ₹1,500

Amount received (credited to Forfeiture): ₹30

= 30 × 50 = ₹1,500