Company Accounts

Share Capital

Easy

common

In case of issue of shares, the company has to get minimum subscription within__________ from the date of the issue of the prospectus.

15 Days

45 Days

90 Days

120 days

✅ Correct Option: 4

The textbook rule states that minimum subscription must be received within $120$ days from the date of issue of the prospectus. If it is not received by then, the entire application money has to be refunded, failing which interest becomes payable.

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%?

2025: 31 May Shift 1

Jindal and Company purchased a machine from High Life Machine Limited for Rs.3,80,000. As per purchase agreement, Rs. 20,000 were paid in cash and balance by issue of shares of Rs.100 each. Find the number of shares issued, if they are issued at par:

2025: 3 June Shift 1

Amount of discount allowed on the reissue of forfeited shares cannot exceed the amount that has:-

2025: 2 June Shift 2

Calls in arrears are shown in the balance sheet as.

2023: 28 May Shift 1

Match List - I with List - II.

List - I	List - II
(A) Authorised Capital	(I) A portion of uncalled share capital will be called at the time of winding up
(B) Reserve Capital	(II) Maximum amount of share capital a company could raise during its life time
(C) Issued Capital	(III) Capital issued to public for subscription
(D) Subscribed but not fully paid capital	(IV) Amount called up and received but not fully

Choose the correct answer from the options given below :

2026: 6 June Shift 1

Select the features from the following which are related to Calls in Arrears:

(A) It reduces the paid-up capital

(B) It is debited where a company maintains its account.

(D) It is shown on Asset side of the Balance Sheet

Choose the correct answer from the options given below:

In case of issue of shares, the company has to get minimum subscription within__________ from the date of the issue of the prospectus.

Solution

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