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    Question

    The balance of share forfeited account after the reissue of forfeited shares is transferred to ________________.

    A

    General Reserve Account

    B

    Capital Redemption Reserve Account

    C

    Capital Reserve

    D

    Revenue Reserve Account

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    Updated on : 2022-09-05

    Solution Verified by Toppr

    Correct option is C)

    Normally, the forfeited shares are reissued as fully paid and at a discount. The amount of discount allowed cannot exceed the amount that had been received on forfeited shares on their original issue, and should be debited to the 'Share Forfeited A/c'. The balance, if any, left in Share Forfeited A/c, in respect of shares reissued , should be treated as capital profit and  transferred to Capital Reserve A/c.

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    The balance of Share Forfeiture A/c is transferred to _________ account after re

    The balance of Share Forfeiture A/c is transferred to _________ account after re-issue of these share.

    The balance of Share Forfeiture A/c is transferred to _________ account after re-issue of these share.

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    The balance of Share Forfeiture A/c is transferred to _________ account after re

    The balance of Share Forfeiture A/c is transferred to _________ account after re-issue of these share.

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    The balance of Share Forfeiture A/c is transferred to _________ account after re-issue of these share.

    OPTIONS

    Reserve Capital Capital Reserve Profit & Loss Share capital Advertisement Remove all ads

    SOLUTION

    The balance of Share Forfeiture A/c is transferred to capital reserve account after re-issue of these share.

    Concept: Forfeiture of Shares

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    Chapter 8: Company Accounts - Issue of Shares - Exercise 8 (Objective Questions) [Page 338]

    Q 1. (A) 1. Q 1. (A) 2.

    APPEARS IN

    Balbharati Book-keeping and Accountancy 12th Standard HSC Maharashtra State Board

    Chapter 8 Company Accounts - Issue of Shares

    Exercise 8 (Objective Questions) | Q 1. (A) 1. | Page 338

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