Question

Balance of share forfeiture account is shown in the balance sheet under the head ______.

पर्याय

• Share Capital Account

• Reserve and Surplus

• Current Liabilities and Provisions

• Unsecured Loans

Answer 1

Balance of share forfeiture account is shown in the balance sheet under the head Reserve and Surplus.

Explanation:

The balance in the Share Forfeiture Account represents the amount already received on forfeited shares.
Since it is a capital profit, it is shown in the Balance Sheet under the head “Reserve and Surplus” until the shares are reissued.