Question

Goods worth Rs. 600 taken by the proprietor for personal use should be credited to Capital Account.

Answer 1

Answer:

Goods worth Rs. 600 taken by the proprietor for personal use should be credited to Capital Account. ... When shares are forfeited, the share capital account is debited with called up capital of shares forfeited and the share forfeiture account is credited with calls in arrear of shares forfeited.