Issue, Forfeiture & Re-Issue of Shares-Test 1

A company forfeited 2000 shares of Rs.10 each (which , were issued at par) held by “A” for non payment of allotment money of Rs.4 per share.

The called up value per share was Rs.9. On forfeiture, the amount debited to share capital is ———-

The rate of interest paid on calls in advance as per table F is ——–

The directors of a company forfeited 1000 shares of Rs.10 each, 7.50 paid up, for non payment of final call money of Rs.2.50 per share. 700 of these shares are re-issued @ Rs.7 per share . The amount transferred to capital reserve A/C would be ———-

A ltd acquired, assets worth Rs.15,00,000 from H Ltd. by issued of shares of Rs.100 @ premium of 25%. The number of shares issued to settle the

purchase consideration will be ———–

The amount received over and above the par value is credited to which account?

500 shares of Rs.20 each issued at 5% discount are forfeited for non-payment of allotment and final call money @ Rs.9 and Rs.5 respectively. Amount credited to share forfeiture A/C is ————-

ABC Ltd forfeited 20 shares of Rs.10 each, Rs.8 called up, on which X paid application and allotment money of Rs.2 and Rs.3 respectively.

These shares were re-issued to Y at Rs.6 fully paid. What was the balance in share forfeiture account before shares were re-issued?

E Ltd has allotted 10,000 shares to the applicants of 14,000 shares on pro-rata basis .The amount payable on application is Rs.2. F applied for 420 shares.

The number of shares allotted and the amount carried forward for adjustment against allotment due from F

J Ltd reissued 2,000 shares which were forfeited by crediting share forfeiture account by Rs.3,000. These shares were reissued at RS.9 per share .

The amount transferred to capital reserve will be ———

G Ltd acquired assets worth Rs.75,000 from H Ltd. by issue of share of Rs.10 at a premium of Rs.5. The number of shares to be issued by G Ltd to

settle the purchase consideration———-

Dividends are usually paid on :

X was issued 100 shares of Rs. 10 each at a premium of Rs. 1, he paid application money and allotment money which in total amounted to Rs. 5 (excluding premium) and failed to pay the balance call money of Rs.5. Find maximum discount that can be given at the time reissue of shares :

Following are the information related to G Ltd. :

(i) Equity share capital paid up        Rs. 2,85,000

(ii) Calls in advance                             Rs.    10,000

(iii) Calls in arrear                                Rs.     15,000

(iv) Proposed dividend                                       20%

The amount of dividend payable :

A company invited application for subscription of 5000 shares. The applications were received for 6000 shares. The shares were allotted on pro-rata bases. If shyam applied for 180 shares, how many shares would be allotted to him ?

The minimum subscription as prescribed by SEBI against the entire issue is :

If vendors are issued fully paid shares of Rs.1,00,000 in consideration of net assets of Rs. 1,20,000, the balance of Rs.20,000 will be credited to :

If the issue size is upto Rs.500 crores, the issued shares should be made fully paid up within ______ of the date of allotment :

When shares are issued to promoters which account should be debited :

Voluntary return of shares for cancellation by the shareholders is called :

According to Section 78 of the companies Act, the amount in the Securities Premium A/c cannot be used for the purpose of :

(a) Issues of fully paid bonus shares

(b) Writing off losses of the company

(c) Writing off commission or discount on issues of shares

(d) Writing off preliminary expenses

(Updated as per Companies Act, 2013)

According to Section 52 of the Companies Act, the amount in the Companies Act, the amount in the Securities Premium A/c cannot be used for the purpose of :

A to whom 100 shares of Rs.10 each were allotted at par, paid Rs.3 on allotment and Rs.3 on application but could not pay the first and final call money of Rs.4. His shares were forfeited by directors. The amount to be credited to share forfeited account will be :

A company forfeited 100 equity shares of Rs.100 each issued at premium of 50% on which the first call money of Rs.30 per share was not received, final call of Rs.20 is yet to be made. These shares were subsequently reissued @ Rs.70 per share at Rs.80 paid up. The amount credited to capital reserve is :

Share allotment account is a :

10,000 equity shares of Rs.10 each were issued to public at a premium of Rs.2 per share. Applications were received for 12,000 shares. Amount of securities premium account will be :

Harsha Ltd. issued shares of Rs.100 each at a premium of 25%. Mamta who has Rs.2,000 shares of Harsha Ltd., failed to pay first and final call totaling Rs.5. Premium was taken at the time of allotment by the company. On forfeiture of Mamta’s shares, the amount to be debited to share Premium account will be :

If a company is not able to refund the excess amount of share within the reasonable time. The Company will give them interest @ :

Right shares are issued to :

Securities Premiums account is shown in the balance sheet under

A purchased a Machinery for Rs.1,80,000 for which he is paying shares of Rs.100 each at 10% discount. How many shares will he give as consideration ?

Mr. X, a holder of 10,000 shares for Rs.10 each has paid Rs.3 on application and Rs.3 on allotment. He did not pay Rs.2 on first call. His shares are forfeited subsequently after first call. Share capital will be debited by ______