shares
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
09 November 2010
Dear Sir/Madam,
Gopal was holding 100 shares of Rs.10 each of a company on which he had paid Rs. 3 an applicaton and Rs.2 on allotment but could not pay Rs.2 on first call. directors forfeited the above share. Share capital will be debited by_____
ANS:500
How to calculate?
Gopal was holding 100 shares of Rs.10 each of a company on which he had paid Rs. 3 an applicaton and Rs.2 on allotment but could not pay Rs.2 on first call. directors forfeited the above share. Share capital will be debited by_____
ANS:500
How to calculate?
Tilak Agrawal
(Expert)
10 November 2010
Dear Student
Whenever Shares are alloted share capital account is credited by the company with amount actually received.
In your case amount actually received is Rs 500/- and hence while forfeiture the same amount is to be debited.
Whenever Shares are alloted share capital account is credited by the company with amount actually received.
In your case amount actually received is Rs 500/- and hence while forfeiture the same amount is to be debited.
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