Question

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.
true or false?​

Answer 1

Answer:

Answer. When shares are forfeited, the share capital A/c is debited with paid-up capital of shares fortified and the share forfeiture A/c is credited with called up capital of shares forfeited so it's true

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