Multiple choice

A company issued 1,000 equity shares of Rs.10 each at a discount 10%. The final call of Rs.3 was not paid by 'Z' who holds 100 shares and his shares were forfeited. Half of the forfeited shares were reissued at Rs.8 per share fully paid.

What amount of Forfeited Shares A/c remains after the re-issue of shares?

  1. Rs. 600

  2. Rs. 250

  3. Rs. 300

  4. Rs. 50
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

Forfeited Shares A/c charged Rs. 600 at the time of forfeiture & half amount remains left & shown in the Forfeited Shares A/c.

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