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Question
Z Ltd. forfeited 800 shares of ₹ 10 each on which ₹ 8 per share was called and ₹ 6 per share was paid. The amount with which share capital account debited on the forfeiture of these shares was:
Options
₹ 8,000
₹ 6,400
₹ 4,800
₹ 3,200
MCQ
Solution
₹ 6,400
Explanation:
Called up amount is transferred to share capital A/c that is 800 × 8 = ₹ 6,400
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