Company Accounts

Share Capital

Easy

common

If a share of ₹ 50, on which ₹ 40 has been paid up is forfeited, it can be reissued at the minimum price of _________.

₹ 50 per share

₹ 40 per share

₹ 25 per share

₹ 10 per share

✅ Correct Option: 4

On reissue, the discount allowed cannot exceed the amount already forfeited, which is $40$ per share.

Minimum reissue price $= 50 - 40 = 10$ per share.

At this price the Share Forfeiture Account is exactly exhausted and nothing is left for Capital Reserve.

2025: 24 May Shift 1

Disclosure of shares (specifying the number of shares held) in a company is required for each shareholder holding _________ shares.

2024

Match List-I with List-II

2026: 11 May Shift 2

If company has not received minimum subscription , the company shall forthwith refund the entire subscription amount received. If a delay occurs

2025: 22 May Shift 2

If a delay occurs beyond 8 days from the date of closure of the subscription list in refunding the amount received due to non-fulfilment of the criteria of minimum subscription, the company shall be liable to pay the amount with interest at the rate of:

2026: 24 May Shift 1

Abhay, a shareholder, failed to pay the money for second and final call of Rs. 20 on 1,000 shares issued to him at Rs. 120 (face value Rs. 100 per share). His shares were forfeited after the second call. Share capital A/c would be debited by:

2022: 23 Aug Shift 2

The amount to be adjusted with the call of allotment will be :

If a share of ₹ 50, on which ₹ 40 has been paid up is forfeited, it can be reissued at the minimum price of _________.

Solution

Related questions:

Keyboard Shortcuts

CUET Accountancy Past Year Questions (Topic-Wise)