CUET Accountancy - If the company is unable to get minimum subscription, the shares cannot be issued and the amount must be refunded within 8 days from the date of closure. If not, company shall be liable to pay ______% interest p.a. | PYQs + Solutions

CUET Accountancy 2022 30 Aug Shift 2

Company Accounts

Medium

10%

15%

✅ Correct Option: 2

Related questions:

4 June Shift 2

Profit on reissue of forfeited shares should be treated as:

31 May Shift 1

Sunena, 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. Choose the correct journal entry for forfeiture of the shares.

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CUET Accountancy 2022 30 Aug Shift 2 PYQs

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