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Due to non-payment of call money, a company has forfeited shares which were issued at premium earlier and the premium amount has been received on those shares. How securities premium reserve account will be shown in the journal entry of forfeiture of shares ?

Vijeta Limited took over assets worth Rs. 10,00,000 and liabilities of Rs. 3,00,000 from Gupta Ltd. for a purchase consideration of Rs. 12,00,000. Vijeta Ltd. has given a bill of Rs. 2,00,000 and agreed to settle the remaining purchase consideration by issuing shares at a premium of 25% on face value of Rs. 100 per share. How much amount will be credited to the securities premium reserve account in this case?

Which of the following indicate the correct meaning of Reserve Capital?

Aryan Ltd took over assets worth Rs. 30,00,000 and liabilities of Rs. 9,00,000 for a purchase consideration of Rs. 36,00,000, which was paid as follows: For Rs. 6,00,000 bills were accepted and remaining was paid by issuing shares of Rs 100 each at a premium of 25 %. Find the amount which will be credited to securities premium account?

Taxman Ltd had allotted 40,000 equity shares to the applicant of 48,000 shares on pro rata basis. The amount payable on application is Rs. 4. Manorama applied for 450 shares. The number of shares allotted and the amount carried forward for adjustment against allotment money due from her are:

Consider the given steps below related to forfeiture of shares due to non receipt of allotment money and their re-issue and arrange them in correct sequence :-

(A) Reissue of forfeited shares and transfer of gain on reissue of forfeited shares.

(B) Notice to shareholder regarding non-payment of allotment money and call money.

(C) Non-payment of allotment money and call money by shareholder.

(D) Forfeiture of shares for non-payment of allotment and call money.

Choose the correct sequence of the above steps from the options given below:

Choose the odd items from the below :-

Purna Ltd. forfeited 16,000 equity shares of Rs. 200 each issued at a premium of 10% for non-payment of first and final call of Rs. 60 per share. The minimum amount at which all forfeited shares can be reissued will be :-

Which of the following given statements are true ?

(A) Share Capital is not shown under Equity & Liabilities in the Balance Sheet.

(B) Forfeited shares cannot be re-issued at a discount.

(C) Securities Premium Reserve can be used for issuing bonus shares.

(D) Capital reserve account has a credit balance.

Choose the correct answer from the options given below:

Consider the given steps below for Issue of Shares :-

(A) Receipt of Applications

(B) Allotment of Shares

(C) Issue of Prospectus

(D) Receipt of Minimum Subscription

Choose the correct sequence of above steps from the options given below:

Varun Ltd. forfeited 40,000 equity shares of Rs. 100 each for non-payment of first and final call of Rs. 40 per share. The maximum amount of discount per share at which these shares can be re-issued will be :-

At the time of purchase of a business, if net assets are in excess of purchase consideration, the excess money will be ...... ?

Select the correct statements related to shares and share capital :

(A) Authorized Share Capital and Nominal Share Capital are different from each other.

(B) Equity shares cannot be redeemed during the lifetime of the company.

(C) Preference shares are not the real owner of the company.

(D) Equity shares cannot be issued to the public at a discount.

Choose the correct statements from the options given below:

Amount forfeited on shares is shown under which head of the balance sheet?

The premium amount collected from issue of shares can be used for the following purposes:

(A) To purchase own shares.

(B) To issue fully paid bonus shares to the extent not exceeding unissued share capital of the company.

(C) To write-off preliminary expenses of the company.

(D) To write-off fixed assests from books.

Choose the correct answer from the options given below:

Shubham, 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. What will be the journal entry for forefeiture of shares in this case?

Which of the following is not classified as a category of share capital of the company?

In case of different types of share capital, match List-I with List-II.

Choose the correct answer from the options given below:

A per Rule 3 of the Companies (Incorporation) Rules, 2014 which of the following is not true in respect of One Person Company (OPC)?

As per Section 68 of The Companies Act, 2013, the company cannot buy their own shares from which of the following source:

If the company fails to receive the minimum subscription within the stipulated time period, the company cannot proceed for the allotment of shares and application money should be returned within how many days of the date of issue of prospectus?

Arrange the following related to issue of shares in the correct sequence:

(A) Allotment of Shares

(B) Issue of Prospectus

(C) Receipt of Applications

(D) Remaining amount of shares on call (if any)

Choose the correct answer from the options given below:

There are instances when applications for more shares of a company are received than the number offered to the public for subscription. In such a condition, what are the alternatives available to the directors to deal with the situation?

(A) They can accept some applications in full and totally reject the others.

(B) They can make a pro-rata allotment to all.

(C) They can adopt a combination-accept some applications in full, pro-rata allotment to some and totally reject the remaining.

(D) They can totally reject all applications and come up with fresh issue.

Choose the correct answer from the options given below:

On the basis of liability of its members, the company cannot be classified into which of the following category:

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 ?

The Articles of Association of a company may empower the directors to charge interest at a stipulated rate on calls in arrears. If the articles are silent in this regard, the rule contained in Table F shall be applicable which states that the interest at a rate not exceeding ......... p.a.

The company has to get minimum subscription within how many days from the date of the issue of the prospectus?

If company has not received minimum subscription , the company shall forthwith refund the entire subscription amount received. If a delay occurs

The directors of Roly Paper Limited decided that 400 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.50 per share to Mohita. Necessary journal entry for Profit on reissue forfeited shares transferred to capital reserve will be?

The balance in 'Calls in Advance' account is shown as a separate item under the title Equity and Liabilities in the company's balance sheet, identify the same.