Question : Mohar Ltd. forfeited 160 shares of Rs. 10 each on which the holder had paid only the application money of Rs. 2 per share. Out of these, 40 shares were reissued to Gaurav as fully paid for Rs. 9 per share. The gain on reissue Is

Option 1: Rs. 320

Option 2: Rs. 160

Option 3: Rs. 40

Option 4:

None of these

 

Question : Mohar Ltd. forfeited 160 shares of Rs. 10 each on which the holder had paid only the application money of Rs. 2 per share. Out of these, 40 shares were reissued to Gaurav as fully paid for Rs. 9 per share. The gain on reissue Is

Option 1: Rs. 320

Option 2: Rs. 160

Option 3: Rs. 40

Option 4:

None of these

Question : Krishna Ltd. forfeited 2,000 shares of Rs. 20 each, fully called up, on which only application money of RS. 6 has been paid. Out of these 1,000 shares were reissued and Rs. 4,000 has been transferred to capital reserve. Calculate the rate at which these shares were reissued.

Option 1: Rs 20 per share

Option 2: Rs 18 per share

Option 3: Rs 22 per share

Option 4: Rs 8 per share

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:- Application money received is __________.

Option 1:  Rs. 12,00,000

Option 2: Rs. 10,60,000

Option 3: Rs. 6,40,000

Option 4: Rs. 10,00,000

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:- Application money received is __________.

Option 1:  Rs. 12,00,000

Option 2: Rs. 10,60,000

Option 3: Rs. 6,40,000

Option 4: Rs. 10,00,000

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