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Accountancy
Accounting for Shares
If XYZ Co. Ltd. forfeited 10 shares of Rs.10 each Rs.7 called up, Rs.5 paid on application, what will be the amount to be forfeited?
₹100
₹70
₹50
₹20
Share capital A/c Dr. 70 To share forfeited 50 To uncalled share 20