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MIG Ltd. forfeited 40 shares of …

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MIG Ltd. forfeited 40 shares of 10 each issued at a premium of 40% to Raj who had applied for 48 shares. After having paid 36 (including 2 premium), he did not pay allotment money of 2 (including 1 premium) and on his subsequent failure to pay the first call of 3 (including 1 premium) his shares were forfeited. The amount to be credited to Forfeited Shares Account is

Posted by Vanshika Arora 3 years ago

CBSE > Class 12 > Accountancy

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