ABC Ltd., forfeited 20 shares of Rs. 10 each on which Rs. 6 per share were paid. If out of these shares 8 shares were reissued to Hari as fully paid up on payment of Rs. 5.50 per share, the amount that will stand to the credit of Share Forfeited A/c will be

The correct answer is A. Rs. 48.

Explanation:
The amount received on reissue of 8 shares = 8 * 5.50 = Rs. 44.
The amount that will stand to

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