question_answer

Rishi Ltd. Issued 20,000 Equity shares @ 10 each payable as follows; On application 4; On allotment 1; on first call 2; 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 Rishi to whom 2000 share allotted failed to pay the first call. His shares were forfeited immediately after the 1st call. Final call was riot made till now. Share Capital Account (at the time forfeiture) is to be debited with:

A) 8000

B) 10000

C) 14000

D) 20,000