Issue, Forfeiture & Re-Issue of Shares-Test 3

When shares are forfeited, share capital account is debited by :

A company forfeited 1000 shares of Rs.10 each on which Rs.6,000 have been received. Forfeited shares were re-issued for Rs.7,000. The amount of capital reserve would be :

A company is permitted to issue shares at a discount if at least ______ must have elapsed since the company was entitled to commence the business :

Calls in arrear is shown in Balance Sheet as ________

Krishna Ltd. issued 1,50,000 shares of Rs.100 each at a discount of 10%. Mr. Ram to whom 300 shares were allotted, failed to pay the final call of Rs.30 per share and hence, all his shares were forfeited. At the time of forfeiture of shares, what amount will be transferred to shares forfeited account ?

The director’s of E limited made a final call of Rs.50 per share on 1st August, 2012 indicating the last date of payment of call money to be 31st August,2012.

Tee limited forfeited 500 shares of Rs.20 each issued at 5 % discount for non-payment of allotment and final call money of Rs.9 and Rs.5 respectively. Amount credited to share forfeiture A/c will be _____.

Kumar  Ltd. Issued 1,50,000 shares of Rs.100 each at a discount of 10%. Mr. Ram to whom 300 shares were allotted, failed to pay the final call Rs.30 per share and hence, all his shares were forfeited. At the time of forfeiture of shares, what amount will be transferred to Shares Forfeiture Account ?

Which of the following share capital is not shown in the Balance Sheet;

Max Ltd. forfeited 300 shares of Rs.10 each, fully called-up, for non-payment of final call money of Rs.4 per share. These were subsequently re-issued by the company for Rs.12 per share by the company for Rs.12 per share as fully paid up. Amount of share forfeiture A/c to be transferred to capital reserve is:

According to Companies Act, 2013 the application money must be atleast _____ of the face value of shares whereas as per SEBI guidelines application money must not be less than ___ of the issue price.

A company has both 6% cumulative preference shares of Rs.3,00,000 of Rs.100 each and equity share capital of Rs.6,00,000 of Rs.10 each. If dividend declaration totaled Rs.15,000 and Rs.25,000 in the year 2012-13 and 2013-14 respectively. The dividend allocated to the equity share holders in the year 2013-14 is

The director of K Ltd. made the final call of Rs.20 per share on September 15,2014 indicating the last date for payment of call money to be September 30,2014. Mr. F holding 8000 shares paid the call money on November 15,2014. If the company adopts Table A, the interest on calls in arrear to be paid by Mr.F is

X limited allotted 25,000 equity shares to the applicants of 36,000 shares for Rs.10 each on pro-rata basis. A applied for 1,800 equity shares. Shares allotted to him are _____ and he had paid an application money of Rs.5 per share. ______ is the excess amount received that can be utilized towards allotment money:

According to Companies Act,2013, interest on calls in arrear and calls in advance can be charged and provided, the maximum rates for which are:

When the equity shares are issued to the promoters in consideration of their services provided by them. ______ A/c should be debited.

Discount on re-issue of shares forfeited cannot exceed the ______.

Zee Limited allotted 10,000 shares to the applicants of 14,000 shares on a pro-rata basis.

The amount payable on application is Rs.2 per share P, a share holder was allotted 300 shares.

The number of shares he applied for was ________.

On 1.1.2011. X Co. Ltd decided to forfeit 800 equity shares of Rs.10 each due to non-payment of second and final call of Rs.5. On 1.3.2011, company re-issued 400 forfeited shares at Rs.7 as fully paid. What will be the amount to be transferred to capital reserve account ?

A company Ltd. by shares before commencement of business, can issue its shares at discount.

Supreme Ltd. has allotted 5,000 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 to be carry forward for adjustment against allotment money from M will be ______.

Underwriting Commission will not be paid on account of shares taken by :

The subscribed share capital of SAI Ltd. is Rs.80,000 of Rs.100 each. There were no calls – in arrear till the final call was made. The final call made was paid on 77,500 shares and the total amount of calls-in – arrear amounted to Rs.67,500. The amount of final call per share made was.

Zebra Ltd. invites applications for subscriptions to 50,000 shares for which Rs.2 per share is to be paid on applications. Applications were received for 80,000 shares and shares were allotted on pro-rata basis to  applicants of 70,000 shares. If the Excess application money is refunded, how much money will be refunded to Mr. Lion who has been allotted 200 shares ?

The subscribed share capital of Shri Ltd. is Rs.90,00,000 of Rs.100 each. There were no calls in arrear till the final call was made. The final call was paid on Rs.85,000 shares. The calls in arrear amounted to Rs.1,25,000. The final call per share

When shares are forfeited, share capital A/c is debited with _________.

Reserve capital means _________.

When shares are issued to promoters for services offered by them, the account that will be debited with the nominal value of shares is ______.

The Securities Premium amount may be utilized by a company for :

When shares are issued to promoters for the services offered by them, the account that will be debited with the nominal value of shares is _____.