A company Forfeited 1,000 shares of Rs 10 each, Rs 7 called up, for the non payment of Rs 2 First call. All these shares were reissued at Rs 5 per share. What amount will be debited to share Forfeiture account?
Answers
Answered by
11
Answer:
the share of ₹7 is reissued at ₹5 hence the forfeiture amount is debited with (1000×₹2) =₹2, 000
Answered by
7
"₹2000"
Explanation:
Forfeited share = Called up - Reissued
= 7 - 5
= ₹2
Forfeiture Shares a/c = ₹2 x 1000 = ₹2000
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