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 : 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 : Received share application money towards application & allotment of shares will be credited to which of the following account?

Option 1: Share Application & Allotment A/c

Option 2: Share Application A/c

Option 3: Share Capital A/c

Option 4: None of these

Question : C's Capital Account has a credit balance of Rs.2,00,000; C's Loan Account is showing a debit balance of Rs.40,000. Bank Balance is Rs.3,00,000. Show the treatment of C's Loan Account.

Option 1: Debited C's capital Rs 40,000 and credited C's Loan account Rs 40,000

Option 2: Debited C's capital Rs 1,60,000 and credited C's loan Rs 1,60,000

Option 3: Credited C's capital Rs 40,000 and debited C's loan Rs 40,000

Option 4: None of the above

Question : SK Ltd. invited applications for 3,20,000 equity shares of  Rs. 10 each at a premium of  Rs. 5 per share. The amount was payable as follows:

On application— Rs. 3 per share (including premium  Rs. 1 per share),

On allotment— Rs. 5 per share (including premium  Rs. 2 per share),

On first and final call—Balance.

Applications for 4,00,000 shares were received. Applications for 40,000 shares were rejected and application money refunded. Shares were allotted on pro rata basis to the remaining applicants. Excess money received with applications was adjusted towards sums due on allotment. Jeevan holding 800 shares failed to pay the allotment money and his shares were immediately forfeited. Afterwards, final call was made. Ganesh who had applied for 2,700 shares failed to pay the final call. His shares were also forfeited. Out of the forfeited shares, 1,500 shares were reissued at  Rs. 8 per share fully paid-up. The reissued shares included all the forfeited shares of Jeevan

Question:-  At the time of forfeiture of 800 shares forfeited shares account will be 

Option 1: Credited with Rs. 1,900

Option 2: Debited with Rs. 1,900

Option 3: Credited with Rs. 3,700

Option 4: Debited with Rs. 1,600