Laxmi Ltd. forfeited Mr M’s shares who has applied for 600 shares and was allotted 400 shares failed to pay allotment money of Rs. 4 per share including premium of Rs. 2 on which he had paid

application money of Rs. 2 only-
Pass necessary journal entries for forfeiture of shares. Show your workings clearly.

whats the

the answer is "b.the increased supply will create a surplus. "

the essential thought behind price controls is straightforward - utilize the power of law to modify the equilibrium of a market. for instance, the legislature may choose that the steel business needs to survive, and in this way pass a law to set a value floor on steel. this implies all steel sold must offer at or over the floor value, which must be set over the equilibrium cost for it to have any impact. the switch could likewise happen - the administration can choose that steel is excessively costly and set a value roof underneath its equilibrium value, with the goal that all steel must be sold at or beneath that ceiling.