High Land India Ltd. invited applications for 50,000 Shares of Rs. 100 each per share. Applications were received for 70,000 shares and pro-rata…
CUET UG 2025 — Accountancy Company Accounts
High Land India Ltd. invited applications for 50,000 Shares of Rs. 100 each per share. Applications were received for 70,000 shares and pro-rata allotment was made on the application for 50,000 shares. Rohan to whom 600 shares were allotted failed to pay the allotment money and his shares were forfeited immediately after allotment. Of the shares forfeited, 500 share were reissued as fully paid-up for Rs. 80 per share.
Order to be followed for recording entries will be
(A) Forfeiture of shares
(B) Calculation of amount received on allotment
(C) Adjustment of excess money received on application towards allotment
(D) Reissue of shares
Choose the correct answer from the options given below:
Held on 15 May 2025 · Verified 13 Jul 2026.
Options
- A
(A), (B), (C), (D)
- B
(A), (B), (D), (C)
- C
(C), (B), (A), (D)
- D
(C), (B), (D), (A)
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