Company Accounts

Share Capital

Easy

When a company reserve a portion of its uncalled capital to be called in the event of winding up, such uncalled capital is known as:-

Reserve capital

Capital Reserve

Called up Capital

Subscribed Capital

✅ Correct Option: 1

Reserve Capital is that portion of uncalled capital which, by a special resolution, a company decides to call only in the event of winding up. It is different from Capital Reserve, which is created out of capital profits.

2022: 20 Aug Shift 2

The directors of a company forfeited 400 equity shares of Rs. 10 each fully called up on which Rs. 1,600 had been paid. All the forfeited shares were reissued upon payment of Rs. 3,000. Calculate the amount transferred to Capital Reserve

2023: 20 June Shift 2

Record journal entry for forfeiture of Rahul's shares.

2025: 3 June Shift 1

Match List-I with List-II

List-I	List-II
(A) For the amount of calls received in advance	(I) Calls in Advance A/c Dr. To Particular Call A/c
(B) Interest on Calls in Advance is due	(II) Sundry Shareholder's A/c Dr. To Bank A/c
(C) The amount of 'Calls in Advance' is adjusted	(III) Bank A/c Dr. To Calls in Advance A/c
(D) Interest on Calls in Advance, For Interest Paid	(IV) Interest on Calls in Advance A/c Dr. To Sundry Shareholder's A/c

Choose the correct answer from the options given below:

2025: 30 May Shift 1

Rahul Limited purchased a building from Handa Limited for Rs.5,40,000 and the payment is to be made by the issue of shares of Rs.100 each. What will the number of shares to be issued when shares issued at a premium of 20%?

2022: 23 Aug Shift 2

Forfeiture of shares results in the reduction of :

2026: 12 May Shift 1

On the basis of liability of its members, the company cannot be classified into which of the following category:

When a company reserve a portion of its uncalled capital to be called in the event of winding up, such uncalled capital is known as:-

Solution

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