Solved

When Shares Are Forfeited, the Share Capital Account Is Debited

Question 3

Multiple Choice

When shares are forfeited, the share capital account is debited with ________ and the share forfeiture account is credited with __________.


A) paid-up capital of shares forfeited; called up capital of shares forfeited
B) called up capital of shares forfeited; calls in arrear of shares forfeited
C) called up capital of shares forfeited; amount received on shares forfeited
D) none of these

Correct Answer:

verifed

Verified

Related Questions

Q1: To issue shares on Discount mean<br>A)issue on

Q2: To issue shares on premium mean<br>A)issue on

Q4: The excess price received over the par

Q5: If the minimum subscription is not received

Q6: Forfeited shares to become _<br>A)property of the

Q7: To issue shares on Par mean<br>A)issue on

Q8: As per the SEBI guidelines, on issue

Q9: The Securities Premium amount may be utilized

Q10: Debentures can be issued only<br>A)at par<br>B)at discount<br>C)premium<br>D)any

Q11: Cancelation of shares mean<br>A)reissue of shares<br>B)valuation of