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प्रश्न
On the basis of following extract of account, choose the correct option:
| Dr. | SECURITIES PREMIUM ACCOUNT | Cr. | |
| Particulars | ₹ | Particulars | ₹ |
| To Calls-in-Arrears A/c | 10,000 | By Shares Allotment A/c | 40,000 |
पर्याय
Shares are forfeited on which ₹ 40,000 was received as Securities Premium.
Shares are forfeited on which ₹ 10,000 is not received towards Securities Premium Account.
Shares are forfeited on which ₹ 10,000 is received towards Securities Premium Account.
All the above.
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उत्तर
Shares are forfeited on which ₹ 10,000 is not received towards Securities Premium Account.
Explanation:
Because when Securities Premium has not been received on forfeited shares, the unpaid premium amount is debited to the Securities Premium Account.
A credit balance of ₹ 40,000 represents the amount received on the forfeited shares.
A debit of ₹ 20,000 with the remaining balance carried forward indicates that some of the forfeited shares have been reissued.
The transfer of ₹ 5,000 to Capital Reserve Account represents the profit earned on the reissue of forfeited shares.
