Which of the following is true in relation to a company and the issue of shares ?

A. A company is an artificial person with separate legal entity, perpetual succession and a common seal.

B. Share calls are to be made as per the provisions of the articles of association.

C. Minimum subscription of 75% is must for issue of shares.

D. The procedure for accounting for the issue of both equity and preference shares is the same. To differentiate between the two, the words 'Equity' and 'Preference' is prefixed to each and every instalment.

Choose the correct answer from the options given below:

As 'Calls in Advance' is a liability of the company, it is under obligation, if provided by the Articles, to pay interest on that amount from the date of its receipt up to the date when the appropriate call is due for payment. According to "Table F", interest on calls in advance cannot exceed __________.

The profit on the reissue of forfeited shares is transferred to

Which of the following statements are correct in respect of share capital?

A. Share application money received in excess is adjusted towards allotment.

B. Calls in advance is shown under share capital

C. Securities premium can be used to issue fully paid bonus shares

D. Share forfeiture account is a capital gain

Choose the correct answer from the options given below:

Record journal entry for forfeiture of Rahul's shares.

X Limited forfeited a share of Rs. 10 on which Rs. 8 is called-up and Rs. 6 is paid and forfeited. By what amount, share capital account will be debited?

The Articles of Association of a company may empower the directors to charge interest at a stipulated rate on calls in arrears. If the articles are silent in this regard, the rule contained in Table F shall be applicable which states that the interest at a rate not exceeding ......... p.a.