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Question

Whenever securities premium is received and the shares are forfeited, what will be the treatment in Share Forfeiture A/c?


A

We will not show this amount in the Share Forfeiture A/c

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B

We will credit Share Forfeiture A/c

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C

We will debit Share Forfeiture A/c

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D

None of these

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Solution

The correct option is A

We will not show this amount in the Share Forfeiture A/c


Whenever securities premium is received and the shares are forfeited, we will not debit securities premium account and also not show this amount in the share forfeiture account.


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