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

Related MCQs

• After the issue of forfeited shares, balance of forfeited shares account Is transferred to
• Forfeiture of shares results in compulsory termination of ______ due to non-payment of allotment/call money
• Forfeited shares to become ________
• The excess price received over the par value of shares, should be credited __________.
• When Branch pays expenses for H.O. the following account is debited in the books of the branch _______
• When an asset is acquired on hire purchase system, the asset account is debited with _______ of the assets in the books of the hire purchaser.
• Under fixed capital methods, profit will be credited to:
• Goods sent by HO but not received by branch before the end of the year, by debiting it to goods in transit, which account should be credited?
• If shares are bought back out of free reserves then a sum equal to nominal value of the shares so bought back is transferred to:
• Preference shares have priority over equity shares for