Issue, Forfeiture & Re-Issue of Shares-Test 2

Share premium is utilized for this purpose :

Reserve share capital means :

The difference between Subscribed Capital and Called-up Capital is called :

At the time of forfeiture, share capital account is debited with :

A Ltd., acquired assets worth Rs.11,25,000 from B Ltd., by issue of equity shares of Rs.100 at premium of 25%. The number of shares to be issued by A Ltd., for the purchase consideration :

Z and Co. forfeited 100 shares of Rs.10 each for non-payment of final call of Rs.2 per shares. All shares were re-issued at Rs.9 per share. What amount will be transferred to Capital Reserve A/c ?

If a share of Rs.10 each on which Rs.8 has been paid up is forfeited, it can be re-issued at the minimum price of :

X purchased the running business of A for Rs.60,000. In place of cash he discharged the purchase consideration by issue of equity shares of Rs.10 each at 20% premium. Find the number of shares to be issued ?

When full amount is due on any call but it is not received, then the shortfall is debited to

A company issued 5,000 shares of Rs.10 each at 20% premium payable as follows : Application Rs.2, Allotment Rs.5 (including premium) and First and Final call Rs.5.

A holder of 200 shares failed to pay the First and Final Call. His shares were forfeited. Calculate the amount to be credited to Share Forfeiture Account.

Which statement is issued before the issue of shares ?

Which of the following should be deducted from the share capital to find out paid up capital of a company ?

Securities Premium can be used by the company.

Supreme Ltd. has allotted 5000 shares to the applicants of 7500 shares on pro-rata basis. The amount on application is Rs.3 per share. M applied for 600 shares. The number of shares allotted to M will be ______ and the amount carried forward for adjustment against allotment money from M will be ____.

Uma being the holder of 1000 shares of Rs.20 each issued at 10% discount, failed to pay allotment money of Rs.8 and final call money of Rs.4. The director decided to forfeit discount on Issue of shares A/c will be

A company forfeited 2000 shares of Rs.10 each (which were issued at par) held by Mr. John 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 will be _________.

Which of the following statement is false ?

Calls in advance are shown under which head of the Balance Sheet ?

B Limited has issued its shares of Rs.10 each at a discount of Rs. 2 per share. Ram holding 100 shares could not pay final call of Rs.5 per share. His shares were forfeited. Later on the company decided to re-issue these shares. Maximum amount of loss per share on such re-issue could be :

Loss on issue of shares is shown under which head in the Balance Sheet ?

When shares are issued at a premium and the amount is already received by company. Later on, when such shares are forfeited :

The power of forfeiture of share is exercised by _____

Shares of a company can be issued at _______ ?

Which of the following account is affected, when shares are issued to promoters ?

Issue of Bonus share implies.

Balance in share Forfeiture A/c is shown in Balance sheet under :

X Ltd. purchased the business of A Ltd. for Rs.60,000. It was payable in shares of Rs.10 each at a premium of 20%. The number of shares to be issued by X Ltd. to discharge purchase consideration will be :

If vendor’s are issued 1,00,000 fully paid equity shares of Rs.10 each in consideration of net assets of Rs.12,00,000. The balance of Rs.2,00,000 will be credited to :

When shares are issued for purchase of assets, ______ should be credited.

The profit remaining after issue of forfeited share, in share forfeiture account will be transferred to __________.