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Revaluation of Assets (Retirement)

If a share of...

Question

If a share of ₹100 on which ₹75 has been called and ₹55 is paid is forfeited, the share capital account should be debited with:

[0.88 marks]

A

₹100

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B

₹75

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C

₹65

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D

₹25

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Solution

The correct option is B ₹75
At the time of forfeiture of shares, the share capital account is debited by the amount called up by the company.

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