As per Section 68 of The Companies Act, 2013, the company cannot buy their own shares from which of the following source:

1,200 shares of Rs.20 each were forfeited for non-payment of Rs.4 per share on first call and Rs.10 per share on final call. Share forfeiture account will be credited with ________.

Rs 50,000 were received in advance for second and final call along with first call. The second and final call was due after two months from the first call. Table II provides for interest on calls in advance at the rate not exceeding _____ per annum and interest on calls in advance amounted to Rs ...........

Anu Ltd. invited applications for 30,000 Shares of Rs. 100 each at a premium of Rs. 20 per share payable as follows: On Application Rs. 40 (including Rs.10 premium), On Allotment Rs. 30 (including Rs.10 premium), On First Call Rs. 30 On Second and Final Call Rs. 20

Applications were received for 40,000 shares and pro-rata allotment was made on the application for 35,000 share. Excess application money was utilised towards allotment. Raju to whom 600 shares were allotted failed to pay the allotment money and his shares were forfeited immediately after allotment.

Find the amount of allotment not paid by Raju?

It is available only for the creditors on winding up of the company.

A company forfeits 200 shares of Rs. 10 each on which Rs. 600 had been received. It can allow a maximum discount of Rs. 600 on their reissue. Assuming that the company reissues these shares for Rs. 1,800 as fully paid up. What will be the journal entry for the treatment of remaining forfeited amount after adjustment of discount ?

Select the TRUE statement related to the issue/re-issue of equity shares.