The account to which excess amount on share forfeited a/c is transferred. Answer in a word / phrase / term.
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The account to which excess amount on share forfeited a/c is transferred⤵️⤵️⤵️⤵️
(Capital Reserve Account)
The account to which excess amount on share forfeited a/c is transferred⤵️⤵️⤵️⤵️
(Capital Reserve Account)
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The account to which excess amount on share forfeited a/c is transferred is known as a capital reserve account.
* Here, the surplus amount( can also be the capital surplus) that's generated from the profits of a company are deposited.
* This amount can be used for maintaining the capital buffers, any urgency or several other contingencies.
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