Question

Hi-Tech Ltd, forfeited 50 shares of Rs 100 each issued at 10% premium for non-payment of allotment money of Rs 30 per share (including premium) and first call of Rs 30 per share. The second and final call of Rs 20 per share was not yet called. At the time of passing entry for forfeiture, Forfeiture Shares Account will be

(a) debited with 5,000,
(b) debited with 4,000,
(c) credited with 1,500,
(d) credited with 4,000.​

Answer 1

Answer:

5000

Explanation:

-debited with 5000

Answer 2

a) debited with 5,000 is the answer