$500$ shares of $R s . 20$ each issued at $5$ % discount are forfeited for non-payment of allotment and final call money @ $R s . 9$ and $R s . 5$ respectively. Amount credited to share forfeited A/c is ______________.

R s . 2, 000

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R s . 2, 500

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R s . 3, 000

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R s . 7, 000

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Solution

The correct option is D $R s . 2, 500$
particular Dr. Cr.
Share capital A/c 10,000
To discount of issue of share 5,000
To call in arrears 4,500
To share forfeited A/c 2,500.

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Q. 50 shares of Rs 10 each issued at a premium of Rs 5 each payable with allotment were forfeited for the non payment of allotment money of Rs 9 per share including premium. The first and final call on these shares at Rs 3 per share were not made. The forfeited shares were re-issued @ Rs 12 per share fully paid up. The profit on re-issue is-

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500 shares of Rs.20 each issued at 5% discount are forfeited for non-payment of allotment and final call money @ Rs.9 and Rs.5 respectively. Amount credited to share forfeited A/c is ______________.

The correct option is D Rs.2,500particular Dr. Cr.Share capital A/c 10,000 To discount of issue of share 5,000 To call in arrears 4,500 To share forfeited A/c 2,500.

$500$ shares of $R s . 20$ each issued at $5$ % discount are forfeited for non-payment of allotment and final call money @ $R s . 9$ and $R s . 5$ respectively. Amount credited to share forfeited A/c is ______________.

The correct option is D $R s . 2, 500$
particular Dr. Cr.
Share capital A/c 10,000
To discount of issue of share 5,000
To call in arrears 4,500
To share forfeited A/c 2,500.