Question

balance in forfeited share account​

Answer 1

Answer:

Annu Mehra

Step-by-step explanation:

When shares are forfeited, the shareholder's name is removed from the register of members and the amount already paid by him on shares is forfeited to the capital. It is a capital gain and is credited to Forfeited Shares Account. A forfeited share may be reissued even at a loss.