R

Ram Sharma • 193.65K Points
Coach

Q. When shares are forfeited, the share capital account is debited with ________ and the share forfeiture account is credited with __________.

(A) paid-up capital of shares forfeited; called up capital of shares forfeited
(B) called up capital of shares forfeited; calls in arrear of shares forfeited
(C) called up capital of shares forfeited; amount received on shares forfeited
(D) none of these

Correct Answer - Option(C)

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