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200 forfeited Rs. 10 shares (Rs. 600 received) are reissued as fully paid for Rs. 1,800. Debit to Forfeiture A/c?
ARs. 400
BRs. 1,800
CRs. 200
DRs. 600
Answer & Solution
Correct answer: C. Rs. 200
Fully paid value is Rs. 2,000 and cash is Rs. 1,800, so the Rs. 200 discount is debited to forfeiture.
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