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?
Option 1: Debited to Share Capital A/c
Option 2: Debited to Calls-in Arrears A/c
Option 3: Credited to Calls-in in Arrears A/c
Option 4: Credited to Share Capital A/c
Correct Answer: Debited to Calls-in Arrears A/c
Solution : Answer = Debited to Calls-in Arrears A/c
When a shareholder fails to pay the share allotment money, it is recorded by debiting the Calls-in Arrears account. This account represents the amount of money that shareholders owe the company for their shares but have not yet paid. Hence, the correct option is 2.
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_____________.
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 : C's Capital Account has a credit balance of Rs.2,00,000; C's Loan Account is showing a debit balance of Rs.40,000. Bank Balance is Rs.3,00,000. Show the treatment of C's Loan Account.
Question : Received share application money towards application & allotment of shares will be credited to which of the following account?
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
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