question_answer

ABC Ltd. Issued 10,000 shares @ 10 each payable as follows; On application 2; On allotment 4; on first call 3; and balance on final call All the shares were subscribed by the public and allotted by the company on time. All money due was received but one shareholder Ram to whom 1000 share allotted failed to pay the first call and his share are forfeited immediately after 1st call. Share forfeiture account is to be credited with:

A) 2000

B) 6000

C) 9000

D) Nil