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Question
After the forfeited shares are reissued, the balance in the forfeited shares account should be transferred to
Options
General reserve account
Capital reserve account
Securities premium account
Surplus account
MCQ
Solution
Capital reserve account
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Introduction to Company Accounts
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RELATED QUESTIONS
At the time of forfeiture, share capital account is debited with
Match the pair and identify the correct option.
(1) Under subscription – (i) Amount prepaid for calls
(2) Over subscription – (ii) Subscription above the offered shares
(3) Calls in arrear – (iii) Subscription below the offered shares
(4) Calls in advance - (iv) Amount unpaid on calls
