CUET Preparation Today
| Superb Limited issued Equity shares of the value ₹ 3,00,000, the face value being 10 each at a premium of 20%. The amount payable was- Application-30% Allotment-50% (including premium) Two calls - Equal amount Pro-Rata allotment was done to all applicants of 40,000 shares. Ramit who applied for 80 shares failed to pay both calls and his shares were subsequently forfeited. |
| Forfeited Shares amount on shares, not yet reissued, is a part of: |
Reserves & Surplus Current Liabilities Current Asset Share Capital |
| Share Capital |
| It is a part of share capital because forfeited shares are added to share capital. |
