Question

Hemant textile 10 lakh in share of hundred each event 5000 on application 20 rupees h on on allotment 25 rupees on first call 25 rupees on second and final call 30 rupees

Answer 1

Explanation:

Explanation:When a shareholder doesn't pay up the called up value, his shares are forfeited and the amount is credited to forfeiture account at the time of forfeiture.

ForfeitureAmount=Applicationamount+Allotmentamount

Substitute values in the above equation

ForfeitureAmount=Rs2+Rs3=Rs5

ForfeitureAmounttobecredited=Sharesforfeited×Forfeitureamount

Substitute values in the above equation

ForfeitureAmounttobecredited=200shares×Rs5=Rs1,000.