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Under which sub-head in the balance sheet does the balance of share forfeiture account appear?

Identify the sequence of journal entries with regard to transfer of shares application money and allotment of shares:

(A) Share Allotment A/c Dr.

To Share Capital A/c

(B) Share Application A/c Dr.

To Share Capital A/c

(C) Bank A/c Dr.

To Share Allotment A/c

(D) Share Application A/c Dr.

To Bank A/c

Choose the correct answer from the options given below:

Match List-I with List-II

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1. (A) - (II), (B) - (III), (C) - (IV), (D) - (I)
2. (A) - (II), (B) - (III), (C) - (I), (D) - (IV)
3. (A) - (II), (B) - (I), (C) - (IV), (D) - (III)
4. (A) - (III), (B) - (IV), (C) - (I), (D) - (II)

Cronic Limited issued 10,000 equity shares of Rs. 10 each payable as Rs. 2.50 on application, Rs. 3 on allotment, Rs. 2 on first call, and the balance of Rs. 2.50 on second and final call. All the shares were fully subscribed and paid except by a shareholder having 100 shares who could not pay for second and final call. Call in Arrears A/c will be debited with-

The balance in the securities premium account can not be used ------------?

Match List-I with List-II

Choose the correct answer from the options given below:

1. (A) - (IV), (B) - (III), (C) - (I), (D) - (II)
2. (A) - (IV), (B) - (III), (C) - (II), (D) - (I)
3. (A) - (II), (B) - (I), (C) - (IV), (D) - (III)
4. (A) - (III), (B) - (IV), (C) - (I), (D) - (II)

Arrange the following in correct order for issue of shares-

(A) Share forfeiture

(B) Share Application

(C) Share Allotment

(D) Unpaid Call

Choose the correct answer from the options given below:

1. (B), (A), (C), (D)
2. (B), (C), (D), (A)
3. (B), (A), (D), (C)
4. (C), (B), (D), (A)

Balance of share forfeiture account is shown in the balance sheet under the item:

Which of the following statement is incorrect -

A private company is one which by its articles of association:

1. Restricts the right to transfer its shares
2. A private company must have at least 2 persons, except in case of one person company
3. Its paid up share capital is not more than Rs. 50 Lakhs
4. Limits the number of its members to 200 (excluding its employees)

The director of Poly Plastic Limited resolved that 200 equity shares of Rs.100 each be forfeited for non-payment of the second and final call of Rs.30 per share. Out of these, 150 shares were re-issued at Rs.60 per share to Mohit. Profit on reissue of forfeited shares transferred to capital reserve. Amount credited to capital reserve account is-

Choose the wrong statements about company-

(A) A company is an artificial person.

(B) The company's shares are generally transferable.

(C) Shareholders of a company are liable for the acts of the company

(D) Every member of a company is entitled to take part in its management.

Choose the correct answer from the options given below:

1. (B) and (D) only
2. (A), (B) and (D) only
3. (B), (C) and (D) only
4. (C) and (D) only

Match List-I with List-II

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Match List-I with List-II

Choose the correct answer from the options given below:

Identify the false statement with regard to a company:

Rs 50,000 were received in advance for second and final call along with first call. The second and final call was due after two months from the first call. Table II provides for interest on calls in advance at the rate not exceeding _____ per annum and interest on calls in advance amounted to Rs ...........

Balance of share forfeiture account is shown in the balance sheet under the sub-head-

Sahil, 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. Which is correct about share forfeiture:

The company has to get minimum subscription within how many days?

The Profit on reissue of forfeited shares is transferred to-

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

Match List-I with List-II

Choose the correct answer from the options given below:

Match List-I with List-II

Choose the correct answer from the options given below:

Identify the steps of the procedure of share issue:

(A) Allotment of Shares

(B) Receipt of Applications

(C) Issue of Prospectus

(D) Share Call

Choose the correct answer from the options given below:

Which of the following statements about share capital is TRUE?

(A) A company's shares are generally transferable.

(B) Share application account is a personal account.

(C) The part of capital which is called up only on winding up of a company is called reserve capital.

(D) Paid up capital can exceed called up capital.

Choose the correct answer from the options given below:

Equity shareholders are..................of the company:

The period of how many month/months must elapse between two calls.

Arrange the following in the correct sequence:

(A) Called-up capital

(B) Subscribed capital

(C) Issued capital

(D) Paid-up capital

Choose the correct answer from the options given below:

A share having a face value of Rs.12, on which Rs. 10 is called-up and Rs. 8 is paid, is forfeited. State the amount with which the Share Capital account will be debited

Match List-I with List-II

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According to 'Table F', interest on calls-in-arrears is charged at: