CUET Accountancy - In a Journal Entry of Forfeiture of Shares, Securities Premium Account may be debited, when :- | PYQs + Solutions

CUET Accountancy 2025 29 May Shift 2

Company Accounts

Medium

common

Share are issued at premium and calls in arrears include premium.

Share are issued at premium and calls in arrears do not include premium.

Shares are issued at par and calls in arrears include premium.

Share are issued at par and calls in arrears do not include premium.

✅ Correct Option: 1

Related questions:

3 June Shift 1

Match List-I with List-II

List–I	List–II
(A) Calls in Arrears	(I) Shares are taken back by the company as shareholders failed to pay one or more installments, viz. allotment money and/or call money.
(B) Calls in Advance	(II) This is a situation where the number of shares applied for is less than the number for which applications have been invited for subscription.
(C) Forfeiture of Shares	(III) This is the amount which any shareholder fails to pay on allotment or on any of the calls.
(D) Under Subscription	(IV) Table 'F' of the Companies Act provides for the payment of interest on this call at a rate not exceeding 12% per annum.

Choose the correct answer from the options given below:

2 June Shift 2

R Ltd purchased a building from X Infra for Rs 6,00,000 and the payment is to be made by the issue of shares for Rs 100 each at a premium of 20%. Calculate the number of shares to be issued.

22 May Shift 2

At the time of forfeiture, share capital account is

CUET Accountancy 2025 29 May Shift 2 PYQs

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