When forfeited shares are reissued at a discount, the discount allowed is debited to the Forfeited Shares Account because the earlier forfeited amount is used to absorb the discount on reissue. The balance left in the Forfeited Shares Account is then transferred to Capital Reserve.
Identify the account to which the discount allowed on reissue of forfeited shares should be debited.
CUET UG 2023 — Accountancy Company Accounts
2023mcqmedium
Identify the account to which the discount allowed on reissue of forfeited shares should be debited.
Official previous-year question
Held on 29 May 2023 · Verified 13 Jul 2026.
Options
- A
Bank Account
- B
Forfeited Share Account
- C
Capital Reserve Account
- D
Securities Premium Reserve Account
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