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Reported Question / Answer
Q.) A company forfeited A’s 1000 shares Rs. 10each @ 10% discount. But A failed to payfirst call of Rs. 2 and final call of Rs. 4 and allthe shares were re issued for Rs.8 per shareas fully paid up. The loss on re issue is ____to forfeited account will be _____?
1)
credited Rs. 2,000
2)
debited Rs. 2,000
3)
debited Rs. 1,000
4)
No affected will be made
5)
NULL
Answer :
3
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