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Commerce · Q1826

Accounting

Graduate and Post Graduate · Commerce · question 1826

Q1826

A share of Rs. 10 is issue with Rs. 1 premium, on which Rs. 9 (including premium) is called-up and Rs. 7 (including premium) is paid up is forfeited. Share capital account will be debited by

A.
Rs. 8
Answer
B.
Rs. 9
C.
Rs. 7
D.
Rs. 10

Answer: Option A

Solution

Answer: Option A
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