Company Accounts

Share Capital

Easy

common

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. 4,800

Rs. 7,200

Rs. 12,000

Rs. 16,800

✅ Correct Option: 2

Amount actually received per share $= 20 - 4 - 10 = 6$ .

Share Forfeiture Account is credited with the amount received on the forfeited shares.

Credit $= 1{,}200 \times 6 = 7{,}200$ .

2025: 14 May Shift 2

Match List-I with List-II

List-I	List-II
(A) For Transfer of Application Money	(I) Share Allotment A/c Dr. To Share Capital A/c
(B) For Money Refunded on Rejected Application	(II) Share Application A/c Dr. To Share Capital A/c
(C) For Amount Due on Allotment	(III) Share Application A/c Dr. To Bank A/c
(D) For Receipt of Allotment Money	(IV) Bank A/c Dr. To Share Allotment A/c

Choose the correct answer from the options given below:

2026: 12 May Shift 1

In case of different types of share capital, match List-I with List-II.

List-I	List-II
(A) Authorised Capital	(I) Portion of issued capital that the public agree to take.
(B) Issued Capital	(II) Amount of share capital issued as per Memorandum of Association of the company.
(C) Subscribed Capital	(III) Part of the capital that the company has demanded for payment.
(D) Called-Up Capital	(IV) Part of authorised capital offered to public.

Choose the correct answer from the options given below:

2025: 27 May Shift 2

On the basis of the number of members, companies can be divided into:

(A) Unlimited Company

(B) Public Company

(D) One Person Company (OPC)

Choose the correct answer from the options given below:

2025: 24 May Shift 1

The balance of the share forfeiture account is shown in the balance sheet under:

2026: 21 May Shift 1

The credit amount on share forfeiture account relating to shares yet to be reissued :

2025: 16 May Shift 1

Balance of share forfeiture account is shown in the balance sheet under which item :

Solution