Question :

 When shares are forfeited, Share Capital Account is debited with

Option 1: Nominal (face) value of shares

Option 2:

Called-up share capital

Option 3: Paid-up value of shares

Option 4: Market value of shares

Question :

At the time of the reissue of all forfeited shares

Option 1:

General Reserve is debited with the credit balance left in the Forfeited Shares Account

Option 2: General Reserve is credited with the credit balance left in the Forfeited Shares Account

Option 3:

Capital Reserve is debited with the credit balance left in the Forfeited Shares Account

Option 4:

Capital Reserve is credited with the credit balance left in the Forfeited Shares Account

Question :

At the time of the reissue of all forfeited shares

Option 1:

General Reserve is debited with the credit balance left in the Forfeited Shares Account

Option 2: General Reserve is credited with the credit balance left in the Forfeited Shares Account

Option 3:

Capital Reserve is debited with the credit balance left in the Forfeited Shares Account

Option 4:

Capital Reserve is credited with the credit balance left in the Forfeited Shares Account

Question : Share Capital Account is debited with which amount at the time of forfieture of shares?

Option 1: the amount of face value of the shares

Option 2: the amount called up on the shares forfeited till the date of forfeiture

Option 3: paid-up value of shares as on the date of forfeiture

Option 4: market value of the shares as on the date of forfeiture of shares

Question :

An increase in the value of assets at the time of retirement of a partner is

Option 1: credited to Revaluation Account.

Option 2:

debited to Revaluation Account.

Option 3: debited to Profit and Loss Account.

Option 4:

debited to Profit and Loss Appropriation Account.