[Context based on Mona Ltd.] What is the balance remaining left over in the Share Forfeiture Account after the reissue of shares?
- ARs. 900
- BRs. 360
- CRs. 300
- DRs. 1560
Solution & Step-by-step Explanation
1. Total initial forfeiture balance:From Mr. Sharma (All shares reissued, balance left )From Mr. Verma Reissue usage from Mr. Verma's balance:Shares reissued shares. Forfeiture amount transferred/used Leftover balance from non-reissued shares:Non-reissued shares of Mr. Verma sharesLeftover Share Forfeiture Balance