Z Ltd. issued 5,000 equity shares of ₹10 each at 10% premium which is payable on allotment. The company received application money @₹3 per share and allotment money received on only 4,500 shares @₹4 per share. The compan
CS Executive · Corporate and Management Accounting · PYQS · December 2019
Z Ltd. issued 5,000 equity shares of ₹10 each at 10% premium which is payable on allotment. The company received application money @₹3 per share and allotment money received on only 4,500 shares @₹4 per share. The company forfeited 500 shares for non-payment of allotment money. At the time of forfeiture, the Equity Shares Capital a/c will be:
Answer & Explanation:
Correct Answer: Option (C)
Official answer key: (C).
Topics: Company Accounts
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