Sahil, a shareholder, failed to pay the money for second and final call of Rs. 30 on 2,000 shares issued to him at Rs. 220 (face value of Rs. 200 per share). His shares were forfeited after the second and final call. Share Forfeiture A/c will be credited with:

When a company reserve a portion of its uncalled capital to be called in the event of winding up, such uncalled capital is known as:-

When a company issues shares in open market and the amount is payable in instalments. What is the sequence of amount demanded by the company?

A. Money received on calls

B. Money due on calls

C. Allotment money received

D. Application money transferred to Share Capital A/c

E. Allotment money due.

Choose the correct answer from the options given below:

Select the features from the following which are related to Calls in Arrears:

(A) It reduces the paid-up capital

(B) It is debited where a company maintains its account.

(C) It increases liability

(D) It is shown on Asset side of the Balance Sheet

Choose the correct answer from the options given below:

According to Sec 2 (62) of Companies Act, 2013,the maximum amount of paidup share capital of an OPC is:

Identify the correct sequence of steps in the process of Issue of Shares:

A. Making allotment of shares

B. Issue of Prospectus

C. Forfeiture of shares

D. Receiving applications for shares

E. Making calls

Choose the correct answer from the options given below:

Record journal entry for forfeiture of Rahul's shares.