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Commerce · Q1385

Accounting

Graduate and Post Graduate · Commerce · question 1385

Q1385

Gopal held 100 shares of Rs. 10 each of a company on which he had paid Rs. 3 on the application and Rs. 2 on the allotment but could not pay Rs. 2 on the first call. The directors forfeited the above share. The share capital will be debited by

A.
Rs. 1,000
B.
Rs. 700
Answer
C.
Rs. 500
D.
Rs. 800

Answer: Option B

Solution

Answer: Option B
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