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If 600 shares of ₹ 10… (Class 12 Accountancy 2026, Q3a)

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AccountancyCBSE Class 12 · Board exam 2026, set 67/1/1 · 1 mark · MCQ

CBSE Class 12 Accountancy 2026: question 3(a)

Set in the CBSE Class 12 board exam of 2026, paper 67/1/1, section A, question 3(a), for 1 mark. Try it first; the hints and our step-by-step solution are below.

Q3(a) · 1 mark · MCQAccounting for Share Capital

If 600 shares of ₹ 10 each, issued at a premium of ₹ 1 per share are forfeited on which ₹ 8 per share (including premium) have been called and ₹ 6 per share (including premium) have been paid, then 'Share Forfeiture Account' will be ________ by ________.

  1. (A)credited, ₹ 3,000
  2. (B)debited, ₹ 3,000
  3. (C)debited, ₹ 3,600
  4. (D)credited, ₹ 3,600

Source: official question paper from cbse.gov.in (PDF). See it in the full 2026 board paper, set 67/1/1.

Hints

Open one hint at a time and try again before the next.

Hint 1

Take the premium out of the amount paid.

Hint 2

Forfeited money is a gain to the company: debit or credit?

Step-by-step solution

Each step shows the marks it earns, as an examiner would award them. Checked by an independent re-solve from the question paper.

  1. Paid ₹ 6 per share including the ₹ 1 premium, so capital received = ₹ 5 per share. Premium received is not forfeited.

  2. Share Forfeiture A/c is credited with 600 × ₹ 5 = ₹ 3,000. Option (A).

    1 mark

Answer: (A) credited, ₹ 3,000

Where the marks are

  • Credit of capital paid ₹ 5 × 600 (1 mark)

Revise the chapter

Practise this chapterBoard-style questions from Accounting for Share Capital, one at a time, marked against the answer key and marking points.Back to the full paper2026 board paper, set 67/1/1: every question, by section.

The question is transcribed from the official paper; figures are described in words. The solution, hints and chapter tag are ours. Spotted an error? Write tosupport@questionbuddy.in.