Question:
‘Share Forfeiture Account’ will appear under subscribed capital at:
‘Share Forfeiture Account’ will appear under subscribed capital at:
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Share Forfeiture Account shows only the amount paid on capital, excluding premium, for forfeited shares.
Updated On: Jul 15, 2025
- 55,000
- 50,000
- 10,000
- 40,000
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The Correct Option is B
Solution and Explanation
Share Forfeiture = Amount received on forfeited shares
Bhola paid: - Application & Allotment: 8 (includes 3 premium) - First Call: 3 So, amount received before forfeiture: \[ 5,000 \times (8 + 3) = 55,000 \] Out of this, 3 is premium (not part of share forfeiture). So only 10 – 3 (premium) = 7 is capital. \[ \Rightarrow Share Forfeiture = 5,000 \times 10 (paid) – 5,000 \times 2 (unpaid) = 50,000 \]
Bhola paid: - Application & Allotment: 8 (includes 3 premium) - First Call: 3 So, amount received before forfeiture: \[ 5,000 \times (8 + 3) = 55,000 \] Out of this, 3 is premium (not part of share forfeiture). So only 10 – 3 (premium) = 7 is capital. \[ \Rightarrow Share Forfeiture = 5,000 \times 10 (paid) – 5,000 \times 2 (unpaid) = 50,000 \]
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