Question

If 400 shares of Rs. 10 issued at a premium of Rs. 3 on which the full amount has been called
and Rs. 8 (including premium) have been received are forfeited, the forfeiture account should be
credited with
a) Rs. 3.200
b) Rs. 2,000 c) Rs. 1,200 d) Rs. 2,800​

Answer 1

Answer:

(b) 2000

Explanation:

number of shares forfeited =8 ( including premium=3)

so we will subtract premium 8-3 = 5

5× 400

=2000

Answer 2

"b) Rs. 2,000"

Explanation:

Shares issued = 400

Amount of Share = 10

Premium = 3

Therefore, Reissued including Premium = 8

So,  13 - 8 = 5

i.e, 400 x 5 = 2000