If an equity share of Rs. 20 on which Rs. 18 is called-up and Rs. 10 is paid, is forfeited. What will be the equity share capital account amount in the forfeiture journal entry ?

Rs. 18

Correct answer: Option (2) → Rs. 18

Concept: On forfeiture, the Share Capital Account is debited with the CALLED-UP value per share (not the face value and not the amount received), as explained in Accounting for Share Capital.

Face value = Rs 20, but only Rs 18 has been called-up, of which Rs 10 was actually paid.
The forfeiture entry debits Share Capital A/c with the called-up amount = Rs 18 (Rs 10 goes to Share Forfeited A/c and the unpaid Rs 8 to Calls-in-Arrears). Hence the Share Capital A/c amount is Rs 18.