Vishnu Ltd. Forfeited 20 Shares of ₹10 Each, ₹8 Called Up, on Which John Had Paid Application And Allotment Money of ₹5 Per Share - Bzziii.com

Vishnu Ltd. forfeited 20 shares of ₹10 each, ₹8 called up, on which John had paid application and allotment money of ₹5 per share, of these, 15 shares
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Vishnu Ltd. forfeited 20 shares of ₹10 each, ₹8 called up, on which John had paid application and allotment money of ₹5 per share, of these, 15 shares were reissued to Parker as fully paid up for ₹6 per share. What is the balance in the share Forfeiture Account after the relevant amount has been transferred to Capital Reserve Account?

(A) ₹0
(B) ₹5
(C) ₹25
(D) ₹100

(C) ₹25

Explanation:

 Date Particulars L.F. Amount (Rs.) Amount (Rs.) Share Capital A/c 160 To Share Forfeiture A/c 100 To Calls in areal 60 Bank A/c 150 To Share Capital A/c 90 To Share Premium A/c 60 Share Forfeiture A.c 25 To Capital Reserve A/c 25

= "100"/"20 Shares"x 15 Shares

= Rs. 75

= Rs. (100 - 75)

= Rs. 25.

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