CUET Accountancy - If a delay occurs beyond 8 days in refunding the subscription amount, failing to gather the minimum subscription, from the date of closure of the subscription list, the company shall be liable for interest at the rate of: | PYQs + Solutions

CUET Accountancy

Company Accounts

Hard

15%

12%

Prevailing in State Bank of India

✅ Correct Option: 1

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14 May Shift 2

The Profit on reissue of forfeited shares is transferred to :

3 June Shift 2

What will be the journal entries when a call is due and the amount of the same is received?

4 June Shift 2

Ashoka Limited Company, which had issued equity shares of Rs.20 each at a premium of Rs. 4 per share, forfeited 1,000 shares for non-payment of final call of Rs.2 per share. 400 of the forfeited shares were reissued at Rs.14 per share out of the remaining shares of 200 shares reissued at Rs.20 per share. Balance of Share Forfeiture Account after reissue of shares will be:

CUET Accountancy PYQs

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