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 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 :

S  Ltd. issued 40,000 Shares of  Rs. 10 each, for  Rs. 12 each payable as under:

On application  Rs. 2 per share, on allotment  Rs. 5 per share (including premium), on first call  Rs. 2 per share and on second and final call  Rs. 3 per share.

Applications were received for 60,000 shares. Allotment was made on pro rata basis to the applicants for 48,000 shares, remaining applications being refused. Money overpaid on application was applied towards amount due on allotment.

A, to whom 1,600 shares were allotted, failed to pay the allotment money and B, to whom 2,000 shares were allotted, failed to pay two calls. These were subsequently forfeited after the second and final call.

Question:- Money received on application is __________.

Option 1: Rs. 1,20,000

Option 2: Rs. 80,000

Option 3: Rs. 96,000

Option 4: Rs. 24,000

Question : S  Ltd. issued 40,000 Shares of  Rs. 10 each, for  Rs. 12 each payable as under:

On application  Rs. 2 per share, on allotment  Rs. 5 per share (including premium), on first call  Rs. 2 per share and on second and final call  Rs. 3 per share.

Applications were received for 60,000 shares. Allotment was made on pro rata basis to the applicants for 48,000 shares, remaining applications being refused. Money overpaid on application was applied towards amount due on allotment.

A, to whom 1,600 shares were allotted, failed to pay the allotment money and B, to whom

2,000 shares were allotted, failed to pay two calls. These were subsequently forfeited after the second and final call.

Question:-  Amount Received at the time of allotment _______.

Option 1: Rs. 1,76,640

Option 2: Rs. 1,86,000

Option 3: Rs. 2,00,000

Option 4: None of the above

Question : S  Ltd. issued 40,000 Shares of  Rs. 10 each, for  Rs. 12 each payable as under:

On application  Rs. 2 per share, on allotment  Rs. 5 per share (including premium), on first call  Rs. 2 per share and on second and final call  Rs. 3 per share.

Applications were received for 60,000 shares. Allotment was made on pro rata basis to the applicants for 48,000 shares, remaining applications being refused. Money overpaid on application was applied towards amount due on allotment.

A, to whom 1,600 shares were allotted, failed to pay the allotment money and B, to whom

2,000 shares were allotted, but failed to pay two calls. These were subsequently forfeited after the second and final call.

Question:- Excess money adjusted against amount due on the allotment is ____.

Option 1: Rs. 16,000

Option 2: Rs. 40,000

Option 3: Rs. 24,000

Option 4: None of these