CUET Accountancy - In a Journal Entry of Forfeiture of Shares, Share Capital Account will be :- | PYQs + Solutions

CUET Accountancy 2025 29 May Shift 2

Company Accounts

Easy

common

Debited by the issue price of the number of the shares forfeited.

Debited by the face value of the number of the shares forfeited.

Debited by the called up value of the number of the shares forfeited.

Credited by the issue price of the number of the shares forfeited.

✅ Correct Option: 3

Related questions:

27 May Shift 1

Which of the following statement is incorrect -

A private company is one which by its articles of association:

Restricts the right to transfer its shares
A private company must have at least 2 persons, except in case of one person company
Its paid up share capital is not more than Rs. 50 Lakhs
Limits the number of its members to 200 (excluding its employees)

CUET Accountancy 2024 Slot 1

Arrange the following in the correct order:

4 June Shift 2

Discount allowed on reissue of forfeited shares should be debited to:

CUET Accountancy 2025 29 May Shift 2 PYQs