Question : A company forfeited the following shares: 

200 shares of Rs. 10 each forfeited, called up Rs. 9 per share, paid up Rs. 7 per share. Journal entry for forfeiture will be:

Option 1: Share Capital Alc       Dr     2,000

     To Share Forfeiture A/c              200

     To Calls in Arrears A/c             1,800

Option 2: Share Capital Alc             Dr.  2000

    To Share Forfeiture A/c               1,800 

    To Calls in Arrears A/c                    200

Option 3: Share Capital A/c      Dr             1,800 

        To Share Forfeiture A/c                1,400

        To  call in arrears A/c                    400

Option 4: Share Capital A/c        Dr  1,800

     To Share Forfeiture A/c               400

     To Calls in Arrears A/c                1,400

Question : A shareholder allotted to whom 450 shares of Rs. 10 per share failed to pay the first & final of Rs. 2 per share. Rs. 900 to be recorded in the books of a company with_____________.

Option 1: Dr. to Calls-in Arrears A/c

Option 2: Dr. to Share Forfeiture A/c

Option 3: Cr. to Calls-in Arrears A/c

Option 4: Cr. to Share Forfeiture A/c

Question : A company forfeited 700 shares of Rs. 10 each, on which only Rs. 5 per share was paid. Of these 200 shares were re-issued at Rs. 9 per share. Amount from share forfeiture account to capital reserve will be transferred-

Option 1: Rs. 800

Option 2: Rs. 200

Option 3: Rs. 3,500

Option 4: Rs. 2,500

Question : A company forfeited 700 shares of Rs. 10 each, on which only Rs. 5 per share was paid. Of these 200 shares were re-issued at Rs. 9 per share. Amount from share forfeiture account to capital reserve will be transferred-

Option 1: Rs. 800

Option 2: Rs. 200

Option 3: Rs. 3,500

Option 4: Rs. 2,500

Question : A shareholder failed to pay share allotment money on 10,000 shares @ Rs. 30 per share. Which one of the following account will be taken into account?

Option 1: Debited to Share Capital A/c

Option 2: Debited to Calls-in Arrears A/c

Option 3: Credited to Calls-in in Arrears A/c

Option 4: Credited to Share Capital A/c