6.
Sinoy Ltd. issued 20,000 shares of 10 each at a premium of 6. The amount was
payable as follows:
On Application
-
*7 per share (Including Premium 1 per share)
On Allotment
On First and Final call
-
-
*5 per share (Including Premium *2 per share)
Balance
The issue was fully subscribed. All the money was duly received except the
allotment and first and final call on 1,000 shares. These shares were forfeited. On
⚫ forfeiture of these shares, the 'Securities Premium Account' will be debited by:
(A)
*2,000
(C) *5,000
(B)
* 3,000
(D)
20,000
$198
1
19000
​