Question

800 shares of ₹10 each issued at 30% premium (to be paid on allotment) were forfeited for non-payment of ₹2 per share on first call and ₹2 per share on final call. Share Forfeiture Account will be credited with:

पर्याय

• ₹2,400

• ₹4,800

• ₹3,200

• ₹7,200

Answer 1

₹4,800

Explanation:

Face Value per Share = ₹10

Called-up (till forfeiture) = ₹10

Premium (₹3) was already received

Amount Unpaid = First Call ₹2 + Final Call ₹2 = ₹4 per share

Amount Received (per share) = ₹10 − ₹4 = ₹6

Share Forfeiture A/c = Amount Received × No. of Shares
= ₹6 × 800

= ₹4,800