Ninza Ltd. forfeited 1,200 shares of ₹10 each, on which ₹8 per share as called up and ₹6 per share was paid up. The amount with which share Capital Account will be debited at the time of forfeiture of Share will be:

₹9,600

The correct answer is Option (3) - ₹9,600.

Journal entry on forfeiture of shares-

Share Capital A/c Dr.      9,600 (1200 x 8) Called up amount
    To Share forfeiture A/c          7,200 (1200 x 6) Received amount
    To Share Calls A/c                 2,400 Not received amount.

Share capital account is debited with the called up amount so called up amount is 9,600.