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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 - 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:

DateParticularsL.F.Amount (Rs.)Amount (Rs.)
Share Capital A/c160
To Share Forfeiture A/c100
To Calls in areal60
Bank A/c150
To Share Capital A/c90
To Share Premium A/c60
Share Forfeiture A.c25
To Capital Reserve A/c25

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

= Rs. 75

= Rs. (100 - 75)

= Rs. 25.






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