The balance of the share forfeiture account is shown in the balance sheet under the major block item:
- AUnsecured loans
- BShare capital
- CReserves and surpluses
- DCurrent liabilities and provisions
Solution & Step-by-step Explanation
In accordance with Schedule III of the Companies Act, 2013, the un-adjusted remaining balance of the Share Forfeiture Account is presented by adding it directly to the paid-up capital sub-head under the main heading Share Capital on the liabilities side.