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Accountancy · 2023 · 1 mark
CBSE 2023 · Region 1 · Set 1 · Q6
A company forfeited 400 shares of ₹ 10 each, ₹ 8 per share called up for non-payment of first call of ₹ 2 per share. On forfeiture of these shares,…
A company forfeited $\displaystyle 400$ shares of ₹ $\displaystyle 10$ each, ₹ $\displaystyle 8$ per share called up for non-payment of first call of ₹ $\displaystyle 2$ per share. On forfeiture of these shares, 'Share Capital' account will be debited with :
Xyle Ltd. forfeited $\displaystyle 700$ shares of ₹ $\displaystyle 10$ each issued at a premium of $\displaystyle 10$% for non-payment of allotment money of ₹ $\displaystyle 5$ per share (including premium) and first and final call of ₹ $\displaystyle 3$ per share. On forfeiture of these shares, 'Share Forfeiture Account' will be credited with :
Official answer
(a) → (C)
(b) → (D)
Marking-scheme solution
(c)
₹$\displaystyle 3,200$
OR
Q. (ii) Xyle Ltd. forfeited $\displaystyle 700$ shares……………….
Ans (d) ₹$\displaystyle 2,100$
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CBSE Class 12 Accountancy past-paper question from the 2023 board exam, with the answer as CBSE’s own marking scheme gives it. Where our answers come from.