Question
ABC Ltd forfeited 200 equity shares of Rs. 10 each for
non-payment of first call money @ Rs. 2 each. The company has called-up Rs.8 on these shares as Application money at Rs. 2 per share, allotment money at Rs. 4 per share and now Rs.2 as first call money. What is the amount by which the equity share capital be debited in this case?Solution
In case of forfeiture of shares, the Share Capital Account will be debited with the called-up value of shares forfeited. The called up value in this case = Rs.8 As such the total amount to be debited is Rs.8*200 shares = Rs.1600 Note: The forfeited shares amount = Rs.6*200 = Rs.1200 (i.e. the amount paid by the shareholder), while Rs.400 (Rs.2*200 shares) will be the amount calls in arrears i.e. not paid.
What recent agreement did the Department of Posts in India enter into to enhance e-commerce exports?
Who has been appointed as the chairperson of the United Nations Internal Justice Council (IJC)?
What is the last date for Pakistani nationals with valid endorsements to leave India after the April 2025 suspension of the Indus pact?
Which company recently signed a Memorandum of Understanding (MoU) with Imperial College London to establish a Centre for Innovation in Sustainable Desig...
Who has won the 2022 UNHCR Nansen Refugee Award?
SBI has issued additional tier-1 (AT1) bonds worth a total of Rs 6,872 crore at a cut-off of how many %?
Aam Aadmi Party leader Bhagwant Mann took oath as the 17th Chief Minister of Punjab. How many Assembly Seats are in Punjab?
India re-elected as President of the International Solar Alliance (ISA) for a two-year term until:
What is the YoY deposit growth rate reported by RBI for the banking sector?
Which trilateral exercise aims to enhance maritime security and interoperability among India, the Maldives, and Sri Lanka?
