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A company issued 5,000 shares of Rs. 10 each at 20% premium payable as follows : Application – Rs. 2, Allotment Rs. 5 (including premium) and First and Final Call- Rs. 5. A holder of 200 shares failed to pay the First and Final Call. His shares were forfeited. Calculate the amount to be credited to Share Forfeiture Account. 
  • a)
    Rs. 1,000
  • b)
    Rs. 1,400
  • c)
    Rs. 400
  • d)
    None of these 
Correct answer is option 'A'. Can you explain this answer?
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Most Upvoted Answer
A company issued 5,000 shares of Rs. 10 each at 20% premium payable as...
Rs. 3 per share
Allotment Rs. 5 per share
First and Final Call Rs. 2 per share

Calculate the amount paid by the shareholders.

The premium on the shares is 20% of Rs. 10, which is Rs. 2 per share. The total premium on 5,000 shares is 5,000 x Rs. 2 = Rs. 10,000.

Application:
The amount paid per share for application is Rs. 3. So, the total amount paid for application is 5,000 x Rs. 3 = Rs. 15,000.

Allotment:
The amount paid per share for allotment is Rs. 5. So, the total amount paid for allotment is 5,000 x Rs. 5 = Rs. 25,000.

First and Final Call:
The amount paid per share for the first and final call is Rs. 2. So, the total amount paid for the first and final call is 5,000 x Rs. 2 = Rs. 10,000.

Therefore, the total amount paid by the shareholders is Rs. 15,000 + Rs. 25,000 + Rs. 10,000 = Rs. 50,000.
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Community Answer
A company issued 5,000 shares of Rs. 10 each at 20% premium payable as...
To share forfeited A/C..... 1000 (200×5)
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A company issued 5,000 shares of Rs. 10 each at 20% premium payable as follows : Application – Rs. 2, Allotment Rs. 5 (including premium) and First and Final Call- Rs. 5. A holder of 200 shares failed to pay the First and Final Call. His shares were forfeited. Calculate the amount to be credited to Share Forfeiture Account.a)Rs. 1,000b)Rs. 1,400c)Rs. 400d)None of theseCorrect answer is option 'A'. Can you explain this answer?
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A company issued 5,000 shares of Rs. 10 each at 20% premium payable as follows : Application – Rs. 2, Allotment Rs. 5 (including premium) and First and Final Call- Rs. 5. A holder of 200 shares failed to pay the First and Final Call. His shares were forfeited. Calculate the amount to be credited to Share Forfeiture Account.a)Rs. 1,000b)Rs. 1,400c)Rs. 400d)None of theseCorrect answer is option 'A'. Can you explain this answer? 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 A company issued 5,000 shares of Rs. 10 each at 20% premium payable as follows : Application – Rs. 2, Allotment Rs. 5 (including premium) and First and Final Call- Rs. 5. A holder of 200 shares failed to pay the First and Final Call. His shares were forfeited. Calculate the amount to be credited to Share Forfeiture Account.a)Rs. 1,000b)Rs. 1,400c)Rs. 400d)None of theseCorrect answer is option 'A'. Can you explain this answer? covers all topics & solutions for CA Foundation 2025 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for A company issued 5,000 shares of Rs. 10 each at 20% premium payable as follows : Application – Rs. 2, Allotment Rs. 5 (including premium) and First and Final Call- Rs. 5. A holder of 200 shares failed to pay the First and Final Call. His shares were forfeited. Calculate the amount to be credited to Share Forfeiture Account.a)Rs. 1,000b)Rs. 1,400c)Rs. 400d)None of theseCorrect answer is option 'A'. Can you explain this answer?.
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