Securities Premium Reserve as per section 52(2) of the companies Act 2013 can be used :

(A) To write-off preliminary expenses of the company

(B) To issue fully paid bonus shares to the extent not exceeding unissued share capital of the company

(C) To pay premium on the redemption of preference shares or debentures

(D) To write off discount allowed on the goods sold on credit

Choose the correct answer from the options given below :

200 shares of Rs. 100 each issued at a premium of Rs.10 were forfeited for the non-payment of allotment money of Rs. 60 (including premium) per share. The first and final call of Rs. 20 per share on these shares were not made. The forfeited shares were reissued at Rs. 70 per share as fully paid-up. Capital reserve created after reissue will be:

Which of the following is incorrect about the minimum subscription:

Minimum subscription is the minimum amount that, in the opinion of directors, must be raised to meet the needs of business operations of the company relating to:

A company forfeited 8,000 shares of 20 each on which application money Rs. 6 has been paid. Out of these, 4,000 shares were reissued as fully paid up and Rs. 16,000 has been transferred to capital reserve. Calculate the rate at which these shares were reissued.

Identify the false statement with regard to a company:

Match List-I with List-II

Rekha, a shareholder holding 500 shares of Rs. 10 each, did not pay the allotment money of Rs. 4 per share (including a premium of Rs. 2) and the first and final call of Rs. 3. Her shares were forfeited after the first and final call. What will be the amount to be shown under Share Forfeiture Account ?