Question : If a shareholder does not pay his dues on allotment, for the amount due, there will be a:

Option 1: Calls-in-advance

Option 2: Reissue

Option 3: Share Forfeiture

Option 4: Calls-in-arrears

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 : 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 : Apollo Hospitality Ltd. issued 10,000 equity shares of  Rs. 10 each at a premium of  Rs. 2 per share. The amount is payable as:

On Application —  Rs. 4 per share,

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

On First and Final Call —  Rs. 3 per share.

Gaurav was allotted 200 shares.

Question:- If Gaurav did not pay allotment money and on his subsequent failure to pay the first and final call, his shares were forfeited. At the time of forfeiture of shares, share forfeited account will be credited with _____. 

Option 1: Rs. 800

Option 2: Rs. 1,100

Option 3: Rs. 1,600

Option 4: None of the above 

Question : Apollo Hospitality Ltd. issued 10,000 equity shares of  Rs. 10 each at a premium of  Rs. 2 per share. The amount is payable as:

On Application —  Rs. 4 per share,

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

On First and Final Call —  Rs. 3 per share.

Gaurav was allotted 200 shares.

Question:- If Gaurav did not pay allotment money and on his subsequent failure to pay the first and final call, his shares were forfeited. At the time of forfeiture of shares, share forfeited account will be credited with _____. 

Option 1: Rs. 800

Option 2: Rs. 1,100

Option 3: Rs. 1,600

Option 4: None of the above