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

Question : Alok a shareholder of a company allotted shares to whom 5000 of Rs. 100 each, failed to pay allotment Rs. 30 per share and first & final call Rs. 30 per share. Alok had paid only application money. Pro-rata allotment proportion is 5: 6. What will be the amount of calls-in arrears on allotment, from the following:-

Option 1: Rs. 3,30,000

Option 2: Rs 2,64,000

Option 3: Rs 2,60,000

Option 4: None of these

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 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 : 6000 shares of Rs. 100 each forfeited due to nonpayment of allotment of Rs. 40 per share and first & final call of Rs. 30 per share. Out of the forfeited shares, 4500 shares were reissued at Rs. 80 per share fully paid. Which of the following amount of share forfeiture account will be transferred to Capital Reserve Account?

Option 1: Rs 1,80,000

Option 2: Rs 45,000

Option 3: Rs 6,60,000

Option 4: Rs 2,70,000