Start learning →

Match each share forfeiture and reissue step with its accounting entry:

A1-A, 2-B, 3-C
B1-B, 2-A, 3-C
C1-C, 2-B, 3-A
D1-A, 2-C, 3-B
Answer & Solution
Correct answer: A. 1-A, 2-B, 3-C
Forfeiture cancels capital. Reissue discount capped at forfeited sum. Net gain moves to Capital Reserve.
Practise this question with Quill — CBSE Class 12 (Commerce) →

Keep practising Accounting for Share Capital

Browse all Accounting for Share Capital questions for CBSE Class 12 (Commerce), or explore more Accountancy topics.

Start a Accounting for Share Capital lesson →