HomeTestsSearchRankProfile
hardMCQCUET Accountancy 2022 15 July Shift 22026Accountancy
1 attempts0% success rate1 mark

[Context based on Mona Ltd.] What is the balance remaining left over in the Share Forfeiture Account after the reissue of shares?

  1. A
    Rs. 900
  2. B
    Rs. 360
  3. C
    Rs. 300
  4. D
    Rs. 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

Practice this question

Try it yourself before checking the explanation above.

[Context based on Mona Ltd.] What is the balance remaining left over in the Share Forfeiture Account after the reissue of shares?
A
Rs. 900
B
Rs. 360
C
Rs. 300
D
Rs. 1560

Share This Question

Related Questions

Ready for a Full Test?

Practice with timed mock tests and track your performance across Accountancy.

Discussion