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CMA Inter Paper 10 Practice Questions - CMA Intermediate Paper 10 Corporate Accounting And Auditing (CAA) Exam

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A shareholder holding 200 shares of Rs. 10 each (Rs. 8 called up) failed to pay the final call of Rs. 2. The shares were forfeited. What amount is credited to the Forfeited Shares (Share Forfeiture) Account on forfeiture?
Correct Answer:
Rs. 1,600

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