Question : Share Capital Account is debited with which amount at the time of forfieture of shares?

Option 1: the amount of face value of the shares

Option 2: the amount called up on the shares forfeited till the date of forfeiture

Option 3: paid-up value of shares as on the date of forfeiture

Option 4: market value of the shares as on the date of forfeiture of shares

Question : Vibhuti Ltd. Forfeited 40 shares of Rs. 10 each, Rs. 8 called up, on which Jhanvi had paid application and allotment money of Rs. 5 per share, 15 shares were reissued to Parker as fully paid up for Rs. 6 per share.

What is the balance in the share Forfeiture Account after the relevant amount has been transferred to Capital Reserve Account?

Option 1: Rs 0

Option 2: Rs 5

Option 3: Rs 25

Option 4: Rs 125

Question : Share Capital Suspense Account is opened when-

Option 1: The share capital suspense account is opened when the Balance Sheet is not called.

Option 2: When Balance Sheet is not tallied

Option 3: When dividend is declared but not paid

Option 4: When shares are forefeited

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 : Minimum subscription amount of 90% is related to which share capital..........

Option 1: Authorised Capital, Nominal capital

Option 2: Issued Capital and subscribed capital

Option 3: Called up and Paid up Capital

Option 4: Reserve Capital