Sun Ltd. issued shares of ₹ 50 each at a premium of 20% payable as follows: On Application ₹ 15 On Allotment ₹ 25 (including premium)
Sun Ltd. issued shares of ₹ 50 each at a premium of 20% payable as follows:
Dev, who applied for 2,500 shares and to whom 1,000 shares were allotted on prorate basis, did not pay allotment and first and final call and his shares were forfeited. Pass entry for forfeiture of shares.
[Ans. Amount credited to Share Forfeiture Account ₹ 30,000.]
On Application | ₹ 15 |
On Allotment | ₹ 25 (including premium) |
On First and Final Call | ₹ 20 |
Anurag Pathak Answered question 5 days ago