Question

A share of R 100 issued at a premium of 20% is forfeited due to non-payment of final call of Rs. 30.
The amount transferred to Share forfeiture A/C on forfeiture of shares is:

Answer 1

Answer :

• Share Of ₹100

• At a premium of 20%

• Final Call Money ₹30

Application Money - ₹40

Allotment Money - ₹30

40 + 30 + 30 = 100

= 40 × 100 = 4000

= 30 × 100 = 3000

= 4000 + 3000

=7000

ie,

Amount Transferred to Share Forfeiture a/c = 7000