What is the entry for forfeiture of shares?
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Answer Posted / chinmay mishra
Share capital a/c dr(with the amount of money actually
called)
Securities premium a/c dr(if not received)
To unpaid calls a/c(call amount not received)
To disount on issue of share a/c(if shares were
at a discount)
To shares forfeited a/c(with amount already
received)
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