Q. When shares are forfeited, the share capital account is debited with ________ and theshare forfeiture account is credited with __________. (Solved)
1. paid-up capital of shares forfeited; called up capital of shares forfeited
2. called up capital of shares forfeited; calls in arrear of shares forfeited
3. called up capital of shares forfeited; amount received on shares forfeited
4. none of these
- c. called up capital of shares forfeited; amount received on shares forfeited