Identify the statement that is/are not true from the following.

(a) Shares can be forfeited for non payment of call money.

(b) The profit on forfieted shares is transferred to capital reserve.

(c) Balance of share forfeiture account is shown is the balance sheet under reserves and surplus.

(d) Application money should be at least 10% of the face value of the share.

Choose the correct answer from the options given below :

It is to be noted that 'minimum subscription' of capital cannot be less than ……… of the issued amount according to SEBI Guidelines (Disclosure and Investor Protection)

Match List-I with List-II

Choose the correct answer from the options given below:

Consider the given statements below related to issue of shares and select the correct statements:

(A) The profit on the reissue of forfeited shares is not transferred to the General Reserve.

(B) Paid up capital is that portion of the called up capital which has actually been received from the shareholders.

(C) Shares can be forfeited for failure to repay the loan to the bank.

(D) Calls in Arrears are shown on the Assets side of the balance sheet.

Choose a pair of correct statements from the given options below.

Raj Ltd. purchased a machine from Anuj Tech Ltd. for Rs.1,90,000. As per purchase agreement, Rs. 10,000 were paid in cash and balance by issue of shares of Rs.100 each. Find the number of shares issued to Anuj Tech Ltd., if the shares issued at 20% premium.

Select the INCORRECT statement from the below given statements:-

PQR Ltd. issued 40,000 Equity shares of Rs. 10 each at par payable Rs. 3 on application, Rs. 4 on allotment and balance on first and final call. Applications were received for 1,10,000 shares. Applications for 20,000 shares were refused and allotment was made prorata to remaining applicants. Amount received on allotment is :