1.
When discount is allowed on re-issue of forfeited shares, then the amount of discount is calculated using the formula
1 out of 10
2.
A Ltd forfeited 300 shares of Rs. 10 each, fully called-up, held by B for non-payment of allotment money of Rs. 3 per equity share and final call money of Rs. 4 per share. Out of these, 250 shares were re-issued to C for a total payment of Rs. 1,800. Calculate the amount to be transferred to capital reserve account?
2 out of 10
3.
The portion of the capital which can be called-up only on the winding up of the Company is called
3 out of 10
4.
Which of the following statements is true?
4 out of 10
5.
Which of the following will define, when appropriation of a certain number of shares is made to an applicant in response to his application?
5 out of 10
6.
For what purpose securities premium reserve account cannot be utilized?
6 out of 10
7.
Metacaf Ltd. issued 50,000 shares of ₹100 each payable ₹20 on application (on 1st May 2012); ₹30 on allotment (on 1st January 2013); ₹20 on first call (on 1st July 2013) and the balance on final call (on 1st February 2014). Shankar, a shareholder holding 5,000 shares did not pay the first call on the due date. The second call was made and Shankar paid the first call amount along with the second call. All sums due were received. Total amount received on 1st February was :
7 out of 10
8.
At the time of forfeiture of shares the share capital account is debited with
8 out of 10
9.
If the Premium on the forfeited shares has already been received, then Securities Premium A/c should be :
9 out of 10
10.
Balance of share forfeiture account is shown in the balance sheet under the head ……………
10 out of 10
