Self Studies

Accounting for ...

TIME LEFT -
  • Question 1
    1 / -0

    Vivek holds 30 shares of Rs. 10.00 each at a premium of 10%10\%. He paid Rs. 2.00 per share on application. Rs. 3.00 per share on allotment (including premium) but could not pay the first call of Rs. 2.00 per share. his shares are forfeited. The journal entry to record forfeiture is :

  • Question 2
    1 / -0

    Any balance in the share forfeiture account after all the forfeited share are re-issued should be:

  • Question 3
    1 / -0

    Yogeshwar Ltd. forfeited 5 shares of Rs. 10 each issued at 10%10\% premium to umpire (Rs.9 called up) on which he did not pay allotment money (including premium) of Rs. 3 and call money of Rs. 2 per share. What amount is transferred to Share Forfeiture Account?

  • Question 4
    1 / -0

    Abin was allotted 50 shares of Rs. 10.00 each at a premium of 10%10\%. He paid Rs. 2.00 per share on application but did not pay money due to allotment (including premium) of Rs. 3.00 per share. The journal entry to record forfeiture is : 

  • Question 5
    1 / -0

    Bhaskar Ltd. forfeited 10 shares of Rs. 10 each, (Rs. 6 called up) issued at a discount of 10%10\% to Dibendu on which he had paid Rs. 2 per share. Out of these, 8 shares were re-issued to Neeraj as Rs. 8 called up for Rs. 6 per share. What amount is transferred to capital reserve account after re-issue of shares?

  • Question 6
    1 / -0

    Uncle frenchie Ltd. forfeited 20 shares of Rs. 10 each, Rs. 8 called up on which Satya Narayan Bhati had paid application and allotment money of Rs. 5 per share. Of these 15 shares were re-issued to Akshay Sahoo as fully paid up for Rs. 6 per share. What amount will be balance in the share forfeiture account after the relevant amount has been transferred to Capital Reserve Account?

  • Question 7
    1 / -0

    Akshay Ltd. forfeited 20 shares of Rs. 10 each, Rs. 7 called up on which Rajesh had paid application and allotment money of Rs. 5 per share. Of these 15 shares were re-issued to Harishankar as fully paid up for Rs. 6 per share. What amount should be transferred to Capital Reserve Account?

  • Question 8
    1 / -0

    Balance of shares forfeiture account (before re-issue) is a:

  • Question 9
    1 / -0

    Share premium received by a company can be used for:

  • Question 10
    1 / -0

    30 shares of a company on which application money of Rs. 3 per share has been duly paid are forfeited for non payment of allotment money of Rs. 3 each and first and final call of Rs. 4 each. These shares are then re-issued at Rs.8 per share fully paid. How much money should be transferred to capital reserve?

Submit Test
Self Studies
User
Question Analysis
  • Answered - 0

  • Unanswered - 10

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
Submit Test
Self Studies Get latest Exam Updates
& Study Material Alerts!
No, Thanks
Self Studies
Click on Allow to receive notifications
Allow Notification
Self Studies
Self Studies Self Studies
To enable notifications follow this 2 steps:
  • First Click on Secure Icon Self Studies
  • Second click on the toggle icon
Allow Notification
Get latest Exam Updates & FREE Study Material Alerts!
Self Studies ×
Open Now