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easyMCQCUET Accountancy 2025 16 May Shift 12026CUET Accountancy
1 mark

In a company's Balance Sheet, the balance of the "Share Forfeiture Account" is presented under which main head/sub-item?

  1. A
    Current liabilities and provisions
  2. B
    Share Capital
  3. C
    Reserves and surpluses
  4. D
    Unsecured loans

Solution & Step-by-step Explanation

According to Schedule III, the unissued balance remaining inside the Share Forfeiture Account represents money collected on shares that haven't been reissued yet. This amount must be disclosed by adding it directly to the "Subscribed Capital" line item under the main header Share Capital.

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In a company's Balance Sheet, the balance of the "Share Forfeiture Account" is presented under which main head/sub-item?
A
Current liabilities and provisions
B
Share Capital
C
Reserves and surpluses
D
Unsecured loans

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