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
Correct Answer: Dr. to Calls-in Arrears A/c
Solution : Answer = Dr. to Calls-in Arrears A/c
(450 x 10) Shareholder's Capital A/c Dr 4500
(450 x 2) To Call-in-Arrears 900
(450 x 8) To Share forteited A/c 3600 Hence, the correct option is 1.
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?
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
Question : A company forfeited the following shares:
200 shares of Rs. 10 each forfeited, called up Rs. 9 per share, paid up Rs. 7 per share. Journal entry for forfeiture will be:
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
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