Due to non-payment of call money, a company has forfeited shares which were issued at premium earlier and the premium amount has been received on those shares. How securities premium reserve account will be shown in the journal entry of forfeiture of shares ?

Securities Premium Reserve can be used to:

A. Issue new shares to existing shareholders

B. Write off Preliminary expenses

C. Writing off of Goodwill

D. Premium on Redemption of debentures

E. Issue fully paid Bonus Shares

Choose the correct answer from the options given below:

Shubham, a share holder, 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 of Rs. 100 per share). His shares were forfeited after the second and final call. What will be the journal entry for forefeiture of shares in this case?

Who are entitled to share the distributable profits of the company after satisfying the dividend rights of the preference shareholders?

In the case of under subscription of shares.

Before forfeiture of Rahul's shares, who are required to issue notice in this regard.

If the value of purchase consideration payable to the vendor is less than the value of the net assets taken over by the company, the difference will be credited to: