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प्रश्न
X Ltd. forfeited Monika's shares who has applied for 5,000 shares and was allotted 4,000 shares failed to pay allotment money of ₹4 per share (including premium of ₹2) on which she had paid application money of ₹2 only.
Amount Credited to ‘Forfeited Shares Account’ will be:
पर्याय
₹2,000
₹14,000
₹16,000
₹10,000
MCQ
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उत्तर
₹10,000
Explanation:
Excess received from Monika on Application
5,000 Shares − 4,000 Shares = 1,000 Shares @ ₹2 = 2,000
| ₹ | |
| Amount Due on allotment: 4,000 × ₹4 | 16,000 |
| Less: Excess received on application | 2,000 |
| Calls in Arrears | 14,000 |
Entry on Forfeiture:
| Date | Particulars | L.F. | Debit (₹) | Credit (₹) |
| 1. | Share Capital A/c (4,000 × ₹4) ...Dr. | 16,000 | ||
| Security Premium Reserve A/c ...Dr. | 8,000 | |||
| To Calls in Arrears A/c | 14,000 | |||
| To Shares Forfeited A/c | 10,000 |
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