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Question
At the time of forfeiture, share capital account is debited with
Options
Face value
Nominal value
Paid up amount
Called up amount
MCQ
Solution
Called up amount
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Introduction to Company Accounts
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RELATED QUESTIONS
After the forfeited shares are reissued, the balance in the forfeited shares account should be transferred to
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
