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Moon Company Ltd., New Delhi, has registered its capital as Rs. 50,00,000, divided into 5,00,000 shares of Rs. 10 each. The company offered to the public for subscription 3,00,000 shares of Rs. 10 each, to be received as Rs. 2 on application, Rs. 3 on allotment, Rs. 3 on first call, and the balance on final call,. The company received applications for 3,50,000 shares. The company finalized the allotment of 3,00,000 shares and rejected applications for 50,000 shares. The company did not make the final call. The company received all amounts except on 2,000 shares where first call money has not been received. What will be the Authorised share capital and issued share capital amounts to be shown in the Notes to Accounts of the balance sheet of Moon Company Ltd.

Amit, a shareholder holding 1,000 shares of Rs. 10 each, did not pay the allotment money of Rs. 4 per share (including a premium of Rs. 2) and the first and final call of Rs. 3. His shares were forfeited after the first and final call. The amount of Share Forfeiture A/c will be:

Choose the correct order regarding issue of shares process.

A. Receipt of Applications

B. Issue of Prospectus

C. Allotment of Shares

D. Forfeiture of share

Choose the correct answer from the options given below:

Rule 3 of the Companies (Incorporation) Rules, 2014 provides the following information regarding One Person Company:

A. Only a natural person being an Indian citizen and resident in India can form one person company,

B. It can carry out non-banking financial investment activities.

C. Its paid up share capital is not more than Rs. 50 Lakhs.

D. Its average annual turnover of three years does not exceed Rs. 2 Crores.

Choose the correct answer from the options given below:

The Profit on reissue of forfeited shares is transferred to :

Select the correct statements with regard to accounting for Share Capital from the following:

A. Provisions of 'Table F' authorise the directors to forfeit the shares.

B. The maximum number of members in a private company is 200.

C. The minimum subscription of capital can not be less than 10% of issued capital.

D. Subscribed capital is also called nominal capital.

Choose the correct answer from the options given below:

Discount allowed on reissue of forfeited shares is debited to

Applications Supported by Blocked Amount (ASBA) is a process developed by ..............to apply for subscribing to IPOs and Rights Issue etc. of securities.

JK Limited purchased building from Sumit Ltd. for Rs.6,60,000 and the payment is to be made by the issue of shares of Rs.100 each at a premium of Rs.20. The number of shares to be issued to Sumit Ltd. will be:

The journal entry for the amount due on allotment is:

Employees Stock Option Plan (ESOP) can be offered by a company to:

Interest on calls in arrears is charged according to "Table F" not exceeding _______ p.a:

The amount of security premium reserve cannot be used for:

The rule contained in Table F shall be applicable which states that interest at a rate not exceeding ______ shall have to be paid on all unpaid amounts on shares for the period intervening between the day fixed for payment and the time of actual payment thereof.

If the value of purchase consideration payable to the vendor is less than the value of the net assets taken over by the company, the difference will be credited to:

Company can issue its shares to public:

A. For cash

B. Either at par or at a premium

C. For consideration other than cash

D. At discount

Choose the correct answer from the options given below:

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:

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:

Match the LIST-I with LIST-II

Choose the correct answer from the options given below:

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:

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:

In case of over subscription, three alternatives are available to the directors to deal with the situation:. Find the odd alternative.

At the time of forfeiture of shares, the company

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

Securities Premium cannot be used for the following purpose:

A holds 300 shares of Rs.10 each on which he has paid Re.1 per share on application. B holds 300 shares of Rs.10 each on which he has paid Re.1 on application and Rs.2 on allotment. C holds 300 shares of Rs.10 each, who has paid Re.1 on applications, Rs.2 on allotment and Rs.3 on first call. They all failed to pay their arrears and the second call of Rs.4 per share as well. All the shares of A, B and C were forfeited and subsequently reissued at Rs.11 per share as fully paid-up. The journal entries for the reissue of shares and transfer to capital reserve would be:

Match List-I with List-II

Choose the correct answer from the options given below:

Mukesh Ltd. offered 4,00,000 shares, of Rs. 10 each to the public for subscription, to be received as Rs. 2 on application, Rs. 3 on allotment, Rs. 3 on first call and the balance on final call. The company received applications for 4,50,000 shares. The company finalised the allotment of 4,00,000 shares and rejected applications for 50,000 shares. The company did not make the final call. The company received all the amount except on 20,000 shares where call money has not been received. The amount of share capital that will be shown in the balance sheet of Mukesh Ltd. as:

The correct order of the following events is:

(A) Forfeiture of shares

(B) Capital Reserve

(C) Calls in arrears

(D) Reissue of shares

Choose the correct answer from the options given below:

The credit amount on share forfeiture account relating to shares yet to be reissued :