A company issued 1,00,000 shares of 20 each at 10% premium rs 10 were payable on
application and balance on allotment. What will be the allotment amount?
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QUESTION :-
D Ltd. issued 1,00,000 equity shares of Rs 10 each at a premium of Rs. 2 per share. The amount payable was Rs. 2 on application, Rs. 5 on allotment (including premium) & rest on first & final call. Applications were received for 1,20,000 shares. Excess application money was refunded to applications. All monies due were received except the allotment and first & final call monies on 1,000 shares. These shares were forfeited and reissued at Rs 9 per share.
On reissue of forfeited shares, discount debited to share Forfeiture Account will be _____
Answer will be...Rs. 1,000
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