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Where would you transfer the balance left in the share forfeited account after the reissue of such shares?

  • Post category:Accountancy
  • Reading time:1 mins read

SOLUTION

Balance left in share forfeited account after the reissue of such shares represents a capital profit, which is transferred to ‘Capital Reserve Account’.







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Previous PostWhat is maximum amount of discount which may be allowed on reissue of forfeited shares? (C.B.S.E, 2014)
Next PostWhat is meant by ‘Issue of shares for consideration other than cash’? Give an example.

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