Balance of Share Forfeiture account is shown in the Balance Sheet under the item:- Option 1: Current Liabilities and Provisions Option 2: Reserve and Surplus Option 3: Share Capital Option 4: Unsecured Loans

The answer is 'Share Capital'. View full solution:

CUET Accountancy - Balance of Share Forfeiture account is shown in the Balance Sheet under the item:- | PYQs + Solutions

CUET Accountancy 2023 20 June Shift 2

Company Accounts

Easy

Current Liabilities and Provisions

Reserve and Surplus

Share Capital

Unsecured Loans

✅ Correct Option: 3

Related questions:

16 May Shift 1

Balance of share forfeiture account is shown in the balance sheet under which item :

3 June Shift 2

Match List-I with List-II

List-I	List-II
(A) Calls in Arrears	(I) This is the case when applications for more shares of a company are received than the number offered to the public for subscription.
(B) Calls in Advance	(II) This is a situation where the number of shares applied for is less than the number for which applications have been invited for subscription.
(C) Over Subscription	(III) The amount due that shareholders fail to pay on allotment or on any of the calls.
(D) Under Subscription	(IV) The amount sometimes received from the shareholders as a part or the whole of the amount of the calls not yet made.

Choose the correct answer from the options given below:

31 May Shift 1

When journal entry for forfeiture of shares is recorded in the Company's books, the Share Capital Account -