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Question
If 400 shares of ₹ 100 issued at a premium of ₹ 30 on which the full amount has been called and ₹ 80 (including premium) have been received are forfeited, the share forfeiture account should be credited with ______.
Options
₹ 20,000
₹ 25,000
₹ 28,000
₹ 12,000
MCQ
Fill in the Blanks
Solution
If 400 shares of ₹ 100 issued at a premium of ₹ 30 on which the full amount has been called and ₹ 80 (including premium) have been received are forfeited, the share forfeiture account should be credited with ₹ 20,000.
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