Company Accounts

Share Capital

Medium

common

At the time of forfeiture of shares, Share Capital A/c will be debited with:

Issued Price

Uncalled Up Amount

Called Up Amount

Paid Up Amount

✅ Correct Option: 3

Share Capital A/c carries the called up value of the shares, so on forfeiture it is debited with the called up amount. The paid up portion is credited to Share Forfeiture A/c and the unpaid portion to Calls in Arrears.

2025: 15 May Shift 1

What is the amount of excess application money credited to share allotment and money refunded on rejected application in totality?

2025: 3 June Shift 1

Match List-I with List-II

List–I	List–II
(A) Authorized capital	(I) Mentioned in Prospectus.
(B) Issued capital.	(II) Mentioned in Memorandum of Association.
(C) Subscribed capital.	(III) called up capital–calls in arrears.
(D) Paid up capital.	(IV) Capital for which application is received.

Choose the correct answer from the options given below:

2026: 13 May Shift 2

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 ________.

2026: 29 May Shift 2

Rabi Ltd. purchased building from Tiwari Ltd. for Rs. 6,40,000 out of which Rs. 40,000 is paid immediately and the balance is to be paid by the issue of shares of Rs. 100 each at a premium of 20%. How many shares will be issued ?

2025: 2 June Shift 2

Match List-I with List-II

List-I	List-II
(A) Authorized capital.	(I) Mentioned in Prospectus.
(B) Issued capital.	(II) Mentioned In Memorandum Of Association.
(C) Subscribed capital.	(III) called up capital-calls in arrears.
(D) Paid up capital.	(IV) Capital for which application is received.

Choose the correct answer from the options given below:

2024

Match List-I with List-II

At the time of forfeiture of shares, Share Capital A/c will be debited with:

Solution

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