Manser Company Ltd., New Delhi, has registered its capital as Rs. 40,00,000, divided into 4,00,000 shares of Rs. 10 each. The company offered the public a subscription of 2,00,000 shares of Rs. 10 each. The company received applications for 2,00,000 shares. The company did not make the final call of Rs.2 per share. The company received all the amount except 2,000 shares where share first call money of Rs 3 per share has not been received. Share capital to be shown in balance sheet of Manser Company Ltd. will be:

Raj Ltd. purchased a machine from Anuj Tech Ltd. for Rs.1,90,000. As per purchase agreement, Rs. 10,000 were paid in cash and balance by issue of shares of Rs.100 each. Find the number of shares issued to Anuj Tech Ltd., if the shares issued at 20% premium.

A company forfeited 8,000 shares of 20 each on which application money Rs. 6 has been paid. Out of these, 4,000 shares were reissued as fully paid up and Rs. 16,000 has been transferred to capital reserve. Calculate the rate at which these shares were reissued.

Shares can be forfeited :

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:

A company forfeits 200 shares of Rs. 10 each on which Rs. 600 had been received. It can allow a maximum discount of Rs. 600 on their reissue. Assuming that the company reissues these shares for Rs. 1,800 as fully paid up. What will be the journal entry for the treatment of remaining forfeited amount after adjustment of discount ?

Securities Premium can be used only for the following purposes:

A. To issue fully paid bonus shares to the extent not exceeding unissued share capital of the company;

B. To issue partly paid bonus shares to the extent not exceeding unissued share capital of the company;

C. To write-off the expenses of, or commission paid, or discount allowed on any securities of the company; and

D. Purchase of its own shares (i.e., buy back of shares)

Choose the correct answer from the options given below: