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Practice question

Question

A company forfeited 3,000 shares of ₹10 each (which were issued at par) held by Kishore for non-payment of allotment money of ₹ 5 per share. The called up value per share was ₹ 8. On forfeiture, the amount debited to share capital

Options

Choose one · Correct answer highlighted

Explanation

₹ 24,000 company accounts correct; share issue forfeiture pro-rata per Companies Act.

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