12th Class
Accountancy
Accounting For Share Capital
Question Bank
MCQs - Accounting for Share Capital
question_answer
Gagan Ltd. forfeited 600 shareson non-payment of Allotment amount, final call is not yet called up. Amount payable as : On Application Rs.40 (including full premium of Rs.10); Allotment Rs.40; first and final call 30. At the time of forfeiture of shares, Share Capital Account is to be debited with the called up amount per share_______.