Accountancy, asked by thanmaitm11304, 5 months ago

While writing the forfeiture entry, when will you cancel the SPR a/c

Answers

Answered by saurabhsalil

Answer:

If you already received the amount of premium then there is no need to cancle the SPR A/C

But if you didn't received the amount of premium till date when share is being forfeited then entry should be reversed for security Premium Account.

Explanation:

According to Companies Act, 2013 there will no additiin of the word Reserve anymore in securities Premium. You have to write simply Securities Premium Account

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While writing the forfeiture entry, when will you cancel the SPR a/c​

Answers

While writing the forfeiture entry, when will you cancel the SPR a/c