Question:
Jeeta Ltd. forfeited 300 shares of \(₹100\) each for the non-payment of final call of \(₹10\) per share. The amount credited to share forfeiture account will be :
Jeeta Ltd. forfeited 300 shares of \(₹100\) each for the non-payment of final call of \(₹10\) per share. The amount credited to share forfeiture account will be :
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Forfeiture account = total amount received on forfeited shares.
Updated On: Jul 8, 2025
- \(₹30,000\)
- \(₹27,000\)
- \(₹9,000\)
- \(₹3,000\)
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The Correct Option is B
Solution and Explanation
Amount received per share before forfeiture = \(₹90\)
Total received = \(300 \times 90 = ₹27,000\)
Hence, credited to forfeiture account = \(₹27,000\).
Total received = \(300 \times 90 = ₹27,000\)
Hence, credited to forfeiture account = \(₹27,000\).
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