When shares are forfeited the share capital account is debited by ‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐

Related MCQs

• The share capital account is debited with …………while forfeiting shares
• The share capital account is debited with …………while forfeiting shares
• When 500 shares of Rs. 10 each on which Rs.3 on final call is not paid, share forfeited account is credited with ‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐
• The discount on re-issue of forfeited shares is debited to ---- a/c.
• Gross assets are 1,01,000, fictitious assets 350 are included in the gross assets. External liabilities are 7,500. 6% preference share capital is 45,000. Equity capital is 4,500 equity shares of 10 each fully paid. Average expected profit is 8,500. Transfer to reserves is 10% preference dividend is payable. NRR is 9%. The Net Asset Value Per share is ___________.
• Capital Redemption Reserve Account and Securities Premium Account can be only for issuing fully paid Bonus Shares and not for making partly paid shares into ‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐
• Share forfeited Account is shown on the liabilities side of the balance sheet‐‐‐‐‐‐‐‐‐‐‐‐
• Profit on the re‐issue of forfeited shares is transferred to ‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐ account.
• Alteration of shares of smaller amounts into shares of larger amount is called…..of share capital
• On an equity share of Rs. 20, the company has called up Rs. 16 but Rs.14 has been received by the company, the share capital account should be credited by ……