Cronic Limited issued 10,000 equity shares of Rs. 10 each payable as Rs. 2.50 on application, Rs. 3 on allotment, Rs. 2 on first call, and the balance of Rs. 2.50 on second and final call. All the shares were fully subscribed and paid except by a shareholder having 100 shares who could not pay for second and final call. Call in Arrears A/c will be debited with-

Match List-I with List-II

Choose the correct answer from the options given below:

1. (A) - (IV), (B) - (III), (C) - (I), (D) - (II)
2. (A) - (IV), (B) - (III), (C) - (II), (D) - (I)
3. (A) - (II), (B) - (I), (C) - (IV), (D) - (III)
4. (A) - (III), (B) - (IV), (C) - (I), (D) - (II)

A company can accept calls in advance, if authorised by:

The amount of Securities Premium can be used only for the following purposes:

(A) To write off preliminary expenses.

(B) To make partly paid shares as fully paid up.

(C) To issue fully paid bonus shares.

(D) Purchase of its own shares.

Choose the correct answer from the options given below:

Arrange the following in proper sequence, related to issue and forfeiture of shares

(A) Calls in arrears

(B) Shares are re-issued

(C) Call money become due

(D) Shares forfeited for non payment of money

Choose the correct answer from the options given below:

The director of Priya polymer Limited resolved that 200 equity shares of Rs. 100 each be forfeited for non-payment of the second and final call of Rs. 30 per share. Out of these, 150 shares were re-issued at Rs. 60 per share to Monit. The amount of capital reserve will be:

Jain and Co. purchased a machine from Young Life Machine Limited for Rs. 3,80,000. As per the purchase agreement, Rs. 20,000 were paid in cash and balance by issue of shares of Rs. 100 each. How many shares are issued if the shares are issued at 20% premium.