1.

A company forfeited A’s 1000 shares Rs. 10 each @ 10% discount. But A failed to pay first call of Rs. 2 and final call of Rs. 4 and all thenshares were re issued for Rs.8 per share as fully paid up. The loss on re issue is ____ to forfeited account will be _____

A. debited Rs. 1,000
B. debited Rs. 2,000
C. credited Rs. 2,000
D. No affected will be made
Answer» B. debited Rs. 2,000


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