Question

56. (a) X Ltd. forfeited 30 shares of 10 each fully called-up, held by Karim for non-payment of allow
money of 3 per share and final call of 4 per share. He had paid the application money of?
[Ans.: Capital Reserve
(b) X Ltd. forfeited 20 shares of * 10 each, 7 called-up on which Mahesh had paid application
[Ans.: Capital Reserve-
share. These shares were reissued to Salim for 8 per share.
allotment money of 75 per share. Of these, 15 shares were reissued to Naresh as
6 per share
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Answer 1

Answer:

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