The balance of the Forfeited Shares Account after reissue of forfeited shares will be transferred to…
The remaining balance relating to reissued forfeited shares is transferred to Capital Reserve. It represents a capital profit after adjusting any discount allowed on reissue.
Choose your answer
The balance of the Forfeited Shares Account after reissue of forfeited shares will be transferred to __________ Account.
Answer and explanation
Correct answer B
The remaining balance relating to reissued forfeited shares is transferred to Capital Reserve. It represents a capital profit after adjusting any discount allowed on reissue.
Practice for these exams
-
Kerala SET (LBS Centre)