Question : The forfeited amount on shares not yet reissued is shown in the Balance Sheet as an addition to the:
Option 1: Reserves and Surplus
Option 2: Called Up Capital
Option 3: Authorised Share Capital
Option 4: Paid up Share Capital
Correct Answer: Paid up Share Capital
Solution : The forfeited value on shares that haven't been reissued yet is added to the paid-up share capital in the notes to accounts under the subscribed capital portion in the share capital sub-head, under the Shareholders Funds head on the Balance Sheet.
Hence the correct answer is option 4.
Question : Share Capital Account is debited with which amount at the time of forfieture of shares?
Question : Vibhuti Ltd. Forfeited 40 shares of Rs. 10 each, Rs. 8 called up, on which Jhanvi had paid application and allotment money of Rs. 5 per share, 15 shares were reissued to Parker as fully paid up for Rs. 6 per share.
What is the balance in the share Forfeiture Account
Question : Share Capital Suspense Account is opened when-
Question : Krishna Ltd. forfeited 2,000 shares of Rs. 20 each, fully called up, on which only application money of RS. 6 has been paid. Out of these 1,000 shares were reissued and Rs. 4,000 has been transferred to capital reserve. Calculate the rate at which these shares were
Question : Minimum subscription amount of 90% is related to which share capital..........
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