If a share of Rs. 100 issued at a discount of Rs. 5 of which full amount has been called up is forfeited for nonpayment of final call of Rs. 20, the share capital account will be debited by
A. Rs. 80
B. Rs. 100
C. Rs. 95
D. Rs. 105
Answer: Option B
This Question Belongs to Commerce >> Accounting
Related Questions on Accounting
Accounting provides information on
A. Cost and income for managers
B. Company's tax liability for a particular year
C. Financial conditions of an institutions
D. All of the above
The long term assets that have no physical existence but are rights that have value is known as
A. Current assets
B. Fixed assets
C. Intangible assets
D. Investments
The assets that can be converted into cash within a short period (i.e. 1 year or less) are known as
A. Current assets
B. Fixed assets
C. Intangible assets
D. Investments
Patents, Copyrights and Trademarks are
A. Current assets
B. Fixed assets
C. Intangible assets
D. Investments
Join The Discussion