At the time of forfeiture, the Share Capital Account is debited with the amount that has been called up on the forfeited shares (not merely the amount paid), because the company had credited share capital with the called-up amount when calls were made.
When shares are forfeited, capital account is debited by:
CUET UG 2022 — Accountancy Company Accounts
2022mcqmedium
When shares are forfeited, capital account is debited by:
Official previous-year question
Held on 8 Aug 2022 · Verified 13 Jul 2026.
Options
- A
forfeited amount
- B
called up amount of shares
- C
nominal value of shares
- D
paid-up amount of shares
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