On forfeiture of shares, which of the following account is credited with the amount of money already received on such shares? | Faculties

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Mr. Dubey

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📊 Corporate Accounting

Q. On forfeiture of shares, which of the following account is credited with the amount of money already received on such shares?

(A) shares forfeited a/c
(B) share capital a/c
(C) unpaid calls a/c
(D) share premium a/c

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✅ Correct Answer: (A) shares forfeited a/c

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