MCQOPTIONS
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| 1. |
A company forfeited A’s 1000 shares Rs. 10 each @ 10% discount. But A failed to payfirst 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 | |