Match the following: ( A company forfeited 2,000 shares of 10 each issued (a) at 20% premium (to be paid at the time of allotment) on which 8 is called up. Company did not receive 4 on allotment and 2 on first call. What amount will be debited to share capital account?
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A company forfeited 2000 shares of Rs. 10 each(which were issued at par) held by Mr. John for non - payment of allotment money of Rs. 4 per share.
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Answer:
Rs, 9000
Explanation:
A company forfeited 1,000 shares of Rs.10 each (which were issued at par) held by Mr. John for non-payment of allotment money of Rs.4 per share. The called-up value per share was Rs.9. On forfeiture, the amount debited to share capital will be ________________.
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