Company Accounts

Share Capital

Medium

common

A shareholder holding 2500 shares of Rs. 10 each, did not pay the allotment money of Rs. 6 per share (including a premium of Rs. 2) and the first call of Rs.1 and final call of Rs. 2. Her shares were forfeited after the final call. What will be the amount of share forfeited account?

Rs 2,500

Rs 5,000

Rs 7,500

Rs 10,000

✅ Correct Option: 3

Capital portion per share $= 10 =$ application $+ 4$ (allotment less Rs 2 premium) $+ 1 + 2$ , so application money $= 3$ . Only application money was received, so Share Forfeiture A/c $= 2,500 \times 3 = 7,500$ .

2026: 21 May Shift 2

Correct sequence of steps in the procedure of share issue are :

A. Receipt of applications

B. Issue of prospectus

C. Forfeiture of shares

D. Allotment of shares

Choose the correct answer from the options given below:

2022: 16 July Shift 2

When the purchase consideration is more than net assets taken over, the difference will be debited to

2025: 3 June Shift 2

Match List-I with List-II

List-I	List-II
(A) Calls in Arrears	(I) This is the case when applications for more shares of a company are received than the number offered to the public for subscription.
(B) Calls in Advance	(II) This is a situation where the number of shares applied for is less than the number for which applications have been invited for subscription.
(C) Over Subscription	(III) The amount due that shareholders fail to pay on allotment or on any of the calls.
(D) Under Subscription	(IV) The amount sometimes received from the shareholders as a part or the whole of the amount of the calls not yet made.

Choose the correct answer from the options given below:

2025: 16 May Shift 1

The amount of Security Premium Reserve shown under the sub-head 'Reserves and Surplus' will be:

2025: 22 May Shift 2

Which company must have at least two members?

2026: 29 May Shift 1

In case of issue of shares, the company has to get minimum subscription within__________ from the date of the issue of the prospectus.

A shareholder holding 2500 shares of Rs. 10 each, did not pay the allotment money of Rs. 6 per share (including a premium of Rs. 2) and the first call of Rs.1 and final call of Rs. 2. Her shares were forfeited after the final call. What will be the amount of share forfeited account?

Solution

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