The shares of ₹10 was issued at a premium of ₹3 payable as:

₹3 on Application

₹5 on Allotment (including premium)

Balance on First and Final Call.

A shareholder, who had applied for 100 shares, was allotted only 50 shares and due to non-payment of allotment money his shares were forfeited.

At the time of forfeiture, the amount to be debited to Securities Premium A/c will be:

Question

The shares of ₹10 was issued at a premium of ₹3 payable as:

₹3 on Application

₹5 on Allotment (including premium)

Balance on First and Final Call.

A shareholder, who had applied for 100 shares, was allotted only 50 shares and due to non-payment of allotment money his shares were forfeited.

At the time of forfeiture, the amount to be debited to Securities Premium A/c will be:

YESPYQ · Accepted Answer

Options are free to see. Unlock the correct answer and full explanation with PYQ Pass.

The shares of ₹10 was issued at a premium of ₹3 payable as: ₹3 on Application ₹5 on Allotment (including premium) Balanc…