AfterBoards Logo
Skip to main contentSkip to solution

CUET Accountancy 2026 PYQs13 May Shift 1. Free, no login required.

Company Accounts

past year questions, CUET Accountancy 2026 13 May Shift 1

Share Capital

past year questions, Company Accounts, CUET Accountancy 2026 13 May Shift 1

Easy

common

Varun Ltd. forfeited 40,000 equity shares of Rs. 100 each for non-payment of first and final call of Rs. 40 per share. The maximum amount of discount per share at which these shares can be re-issued will be :-

Solution

✅ Correct Option: 1

Amount received before forfeiture =100−40=60= 100 - 40 = 60 per share, which is the amount forfeited.

The maximum discount allowed on reissue equals the amount already forfeited on those shares, so it is 6060 per share.

Any discount beyond this would create a debit balance that cannot be absorbed by the Share Forfeiture A/c.

Related questions:

2026: 29 May Shift 2

Rabi Ltd. purchased building from Tiwari Ltd. for Rs. 6,40,000 out of which Rs. 40,000 is paid immediately and the balance is to be paid by the issue of shares of Rs. 100 each at a premium of 20%. How many shares will be issued ?

2023: 20 June Shift 2

Identify the ratio in which shares are issued on Pro-rata basis.

2026: 11 May Shift 1

Arrange the following steps in order of occurrence in share capital accounting treatment

A. Allotment of shares

B. Forfeiture of shares

C. Share forfeited amount transferred to capital reserve

D. Minimum subscription received

Choose the correct answer from the options given below:

2025: 30 May Shift 2

The maximum amount of discount on the re-issue of forfeited shares will be:-

2025: 27 May Shift 1

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-

2025: 24 May Shift 1

Match List-I with List-II

List-IList-II
(A) Calls in advance(I) The maximum number of members is 200.
(B) Calls in arrears(II) 12 %
(C) Private company(III) 10 %
(D) Public company(IV) No limit on the maximum number of members.

Choose the correct answer from the options given below:

Keyboard Shortcuts

  • Left arrow: Previous question
  • Right arrow: Next question
  • S key: Jump to solution
  • Q key: Jump to question

CUET Accountancy Past Year Questions (Topic-Wise)