Question

(G) Calculate the following.
1. One shareholder holding 500 equity shares paid share application money @* 3 Allotment
money @ 4 per share and failed to pay final call of 3 per share, his shares were for-
feited. Calculate the amount of share forfeiture.​

Answer 1

Explanation:

Amount of forfeiture = Amount received by company ( in case of non-payment of 'calls')

Here, shareholder paid ₹ 3 per share on application and ₹ 4 per share on allotment on 500 equity shares. So, total amount received by company

= 500 × ₹ 3 + 500 × ₹ 4

= 1,500 + 2,000

= ₹ 3,500

Therefore, Amount of forfeiture = ₹ 3,500