X applied for 200 shares of ₹10 each in ABC Ltd., but he was allotted only 160 shares. After having paid ₹1 on application he did not pay the allotment money of ₹2 per share and first call money of ₹3 per share. His shar
CS Executive · Corporate and Management Accounting · PYQS · June 2022
X applied for 200 shares of ₹10 each in ABC Ltd., but he was allotted only 160 shares. After having paid ₹1 on application he did not pay the allotment money of ₹2 per share and first call money of ₹3 per share. His shares were forfeited. What amount will be credited to share allotment account at the time of entry for forfeiture ?
Answer & Explanation:
Correct Answer: Option (C)
Official answer key: (C).
Topics: Corporate Accounting
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