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Can you explain the answer of this question below:
ABC Ltd. forfeited 20 shares of Rs. 10 each, Rs. 8 called up, on which X paid application and allotment money of Rs. 2 and Rs. 3 respectively. These shares were re-issued to Y at Rs. 6 fully paid. What was the balance in share forfeiture account before shares were re-issued?

  • A: 
    Rs. 40
  • B: 
    Rs. 60
  • C: 
    Rs. 100
  • D: 
    Rs. 160
The answer is c.
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Can you explain the answer of this question below:ABC Ltd. forfeited 2...
Shares forfeiture account contains the balance of money paid on the shares forfeited.
► Number of shares = 20
► Money paid on shares = 2+3 = 5
► Money unpaid on shares = (8-5) = 3
► Balance in shares forfeiture account before shares were re-issued = 20*5 = 100
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Can you explain the answer of this question below:ABC Ltd. forfeited 2...
Shares forfeiture account contains the balance of money paid on the shares forfeited.
► Number of shares = 20
► Money paid on shares = 2+3 = 5
► Money unpaid on shares = (8-5) = 3
► Balance in shares forfeiture account before shares were re-issued = 20*5 = 100
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Can you explain the answer of this question below:ABC Ltd. forfeited 2...
Share capital A/C.,.....Dr..160(20×8) To share forfeited A/C 100(20×5) To calls in arear A/C 60(20×3).( 20 share were forfeited)
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D Ltd. issued 2,00,000 shares of Rs.100 each at a premium of Rs.20 per share payable as follows :On application Rs.20On allotment Rs.50 (including premium)On first call Rs.30On second and final call Rs.20Applications were received for 3,00,000 shares and pro rata allotment was made to applicants of 2,40,000 shares. Money excess received on application was employed on account of sum due on allotment as part of share capital. E, to whom 4,000 shares were allotted, failed to pay the allotment money and on his subsequent failure to pay the first call, his shares were forfeited and F, the holder of 6,000 shares failed to pay the two calls and his shares were forfeited after the second call. Of the forfeited shares, 8,000 shares were reissued to G at a discount of 10%, the whole of Es forfeited shares being reissued.Q.Net balance in Share Forfeiture Account = ________.

D Ltd. issued 2,00,000 shares of Rs.100 each at a premium of Rs.20 per share payable as follows :On application Rs.20On allotment Rs.50 (including premium)On first call Rs.30On second and final call Rs.20Applications were received for 3,00,000 shares and pro rata allotment was made to applicants of 2,40,000 shares. Money excess received on application was employed on account of sum due on allotment as part of share capital. E, to whom 4,000 shares were allotted, failed to pay the allotment money and on his subsequent failure to pay the first call, his shares were forfeited and F, the holder of 6,000 shares failed to pay the two calls and his shares were forfeited after the second call. Of the forfeited shares, 8,000 shares were reissued to G at a discount of 10%, the whole of Es forfeited shares being reissued.Q.Amount transferred to Share forfeiture account at the time of forfeiting Fs shares = _________.

D Ltd. issued 2,00,000 shares of Rs.100 each at a premium of Rs.20 per share payable as follows :On application Rs.20On allotment Rs.50 (including premium)On first call Rs.30On second and final call Rs.20Applications were received for 3,00,000 shares and pro rata allotment was made to applicants of 2,40,000 shares. Money excess received on application was employed on account of sum due on allotment as part of share capital. E, to whom 4,000 shares were allotted, failed to pay the allotment money and on his subsequent failure to pay the first call, his shares were forfeited and F, the holder of 6,000 shares failed to pay the two calls and his shares were forfeited after the second call. Of the forfeited shares, 8,000 shares were reissued to G at a discount of 10%, the whole of Es forfeited shares being reissued.Q.Amount transferred to Share forfeiture account at the time of forfeiting Es shares = _________.

D Ltd. issued 2,00,000 shares of Rs.100 each at a premium of Rs.20 per share payable as follows :On application Rs.20On allotment Rs.50 (including premium)On first call Rs.30On second and final call Rs.20Applications were received for 3,00,000 shares and pro rata allotment was made to applicants of 2,40,000 shares. Money excess received on application was employed on account of sum due on allotment as part of share capital. E, to whom 4,000 shares were allotted, failed to pay the allotment money and on his subsequent failure to pay the first call, his shares were forfeited and F, the holder of 6,000 shares failed to pay the two calls and his shares were forfeited after the second call. Of the forfeited shares, 8,000 shares were reissued to G at a discount of 10%, the whole of Es forfeited shares being reissued..Q.Net balance in Capital Reserve Account = ________.

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Can you explain the answer of this question below:ABC Ltd. forfeited 20 shares of Rs. 10 each, Rs. 8 called up, on which X paid application and allotment money of Rs. 2 and Rs. 3 respectively. These shares were re-issued to Y at Rs. 6 fully paid. What was the balance in share forfeiture account before shares were re-issued?A:Rs. 40B:Rs. 60C:Rs. 100D:Rs. 160The answer is c.
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Can you explain the answer of this question below:ABC Ltd. forfeited 20 shares of Rs. 10 each, Rs. 8 called up, on which X paid application and allotment money of Rs. 2 and Rs. 3 respectively. These shares were re-issued to Y at Rs. 6 fully paid. What was the balance in share forfeiture account before shares were re-issued?A:Rs. 40B:Rs. 60C:Rs. 100D:Rs. 160The answer is c. for CA Foundation 2025 is part of CA Foundation preparation. The Question and answers have been prepared according to the CA Foundation exam syllabus. Information about Can you explain the answer of this question below:ABC Ltd. forfeited 20 shares of Rs. 10 each, Rs. 8 called up, on which X paid application and allotment money of Rs. 2 and Rs. 3 respectively. These shares were re-issued to Y at Rs. 6 fully paid. What was the balance in share forfeiture account before shares were re-issued?A:Rs. 40B:Rs. 60C:Rs. 100D:Rs. 160The answer is c. covers all topics & solutions for CA Foundation 2025 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Can you explain the answer of this question below:ABC Ltd. forfeited 20 shares of Rs. 10 each, Rs. 8 called up, on which X paid application and allotment money of Rs. 2 and Rs. 3 respectively. These shares were re-issued to Y at Rs. 6 fully paid. What was the balance in share forfeiture account before shares were re-issued?A:Rs. 40B:Rs. 60C:Rs. 100D:Rs. 160The answer is c..
Solutions for Can you explain the answer of this question below:ABC Ltd. forfeited 20 shares of Rs. 10 each, Rs. 8 called up, on which X paid application and allotment money of Rs. 2 and Rs. 3 respectively. These shares were re-issued to Y at Rs. 6 fully paid. What was the balance in share forfeiture account before shares were re-issued?A:Rs. 40B:Rs. 60C:Rs. 100D:Rs. 160The answer is c. in English & in Hindi are available as part of our courses for CA Foundation. Download more important topics, notes, lectures and mock test series for CA Foundation Exam by signing up for free.
Here you can find the meaning of Can you explain the answer of this question below:ABC Ltd. forfeited 20 shares of Rs. 10 each, Rs. 8 called up, on which X paid application and allotment money of Rs. 2 and Rs. 3 respectively. These shares were re-issued to Y at Rs. 6 fully paid. What was the balance in share forfeiture account before shares were re-issued?A:Rs. 40B:Rs. 60C:Rs. 100D:Rs. 160The answer is c. defined & explained in the simplest way possible. Besides giving the explanation of Can you explain the answer of this question below:ABC Ltd. forfeited 20 shares of Rs. 10 each, Rs. 8 called up, on which X paid application and allotment money of Rs. 2 and Rs. 3 respectively. These shares were re-issued to Y at Rs. 6 fully paid. What was the balance in share forfeiture account before shares were re-issued?A:Rs. 40B:Rs. 60C:Rs. 100D:Rs. 160The answer is c., a detailed solution for Can you explain the answer of this question below:ABC Ltd. forfeited 20 shares of Rs. 10 each, Rs. 8 called up, on which X paid application and allotment money of Rs. 2 and Rs. 3 respectively. These shares were re-issued to Y at Rs. 6 fully paid. What was the balance in share forfeiture account before shares were re-issued?A:Rs. 40B:Rs. 60C:Rs. 100D:Rs. 160The answer is c. has been provided alongside types of Can you explain the answer of this question below:ABC Ltd. forfeited 20 shares of Rs. 10 each, Rs. 8 called up, on which X paid application and allotment money of Rs. 2 and Rs. 3 respectively. These shares were re-issued to Y at Rs. 6 fully paid. What was the balance in share forfeiture account before shares were re-issued?A:Rs. 40B:Rs. 60C:Rs. 100D:Rs. 160The answer is c. theory, EduRev gives you an ample number of questions to practice Can you explain the answer of this question below:ABC Ltd. forfeited 20 shares of Rs. 10 each, Rs. 8 called up, on which X paid application and allotment money of Rs. 2 and Rs. 3 respectively. These shares were re-issued to Y at Rs. 6 fully paid. What was the balance in share forfeiture account before shares were re-issued?A:Rs. 40B:Rs. 60C:Rs. 100D:Rs. 160The answer is c. tests, examples and also practice CA Foundation tests.
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