Accounting for ...

A company cannot issue shares at a discount more than ________ % of its face value.

If minimum subscription is not received, then the company is required to refund the amount so received from the applicants within ________ days of issue of prospectus.

X Ltd. purchased an automatic bottling machine from a vendor for $$Rs. 165,000$$. The company allotted him equity shares at a premium of $$10$$% instead of paying him in cash. How many equity shares will be allotted to the vendor if the company allotted the shares at $$10$$% discount?

When a company receives application for subscriptions to the shares of the company much more than the issued capital, the issue is called __________.

Calls in advances attracts interest at _________.

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

ABC Ltd. invited applications for public issue of $$20,000$$ equity shares of $$Rs. 10$$ each at premium of $$Rs. 2$$, payable as under $$Rs. 2$$ on application, $$Rs. 3$$ on allotment, $$Rs. 5$$ on first call (including premium) and balance on second and final call. Applications were received for $$30,000$$ shares, pro rata allotment was made for $$24,000$$ applications and the remaining applications were rejected, Gopal who applied for $$4800$$ shares failed to pay second call consequently his shares were forfeited and reissued at $$Rs. 6$$. Find the number of shares allotted to Gopal on pro rata basis.

XYZ Ltd. invited application for issue of $$100,000$$ shares of $$Rs. 10$$ each at a premium of $$Rs. 2, Rs. 5$$ called at the time of application, $$Rs. 5$$ (including premium) at the time of allotment and balance $$Rs. 2$$ at the time of $$1st$$ call. Applications were received for $$1,30,000$$ shares. Application money was returned to the extent to $$10,000$$ shares and pro rate allotment was made to the remaining applicants of $$120,000$$. PQR to whom $$500$$ shares were allotted failed to pay allotment and call money. These shares were subsequently re-issued at $$Rs. 8$$ full paid. Based on the above facts, $$PQR$$ must have applied for _________.

Select the false statement.

Limit on managerial remuneration under the Companies Act, $$2013$$ is ______________.