Question : A shareholder allotted to whom 450 shares of Rs. 10 per share failed to pay the first & final of Rs. 2 per share. Rs. 900 to be recorded in the books of a company with_____________.
Option 1: Dr. to Calls-in Arrears A/c
Option 2: Dr. to Share Forfeiture A/c
Option 3: Cr. to Calls-in Arrears A/c
Option 4: Cr. to Share Forfeiture A/c
Answer (1)
8th Jan, 2024
Correct Answer: Dr. to Calls-in Arrears A/c
Solution : Answer = Dr. to Calls-in Arrears A/c
(450 x 10) Shareholder's Capital A/c Dr 4500
(450 x 2) To Call-in-Arrears 900
(450 x 8) To Share forteited A/c 3600
Hence, the correct option is 1.
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