When 500 shares of Rs. 10 each on which Rs.3 on final call is not paid, share forfeited account is credited with ‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐

Related MCQs

• Gross assets are 1,01,000, fictitious assets 350 are included in the gross assets. External liabilities are 7,500. 6% preference share capital is 45,000. Equity capital is 4,500 equity shares of 10 each fully paid. Average expected profit is 8,500. Transfer to reserves is 10% preference dividend is payable. NRR is 9%. The Net Asset Value Per share is ___________.
• Capital Redemption Reserve Account and Securities Premium Account can be only for issuing fully paid Bonus Shares and not for making partly paid shares into ‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐
• When shares are forfeited the share capital account is debited by ‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐
• On forfeiture of shares, which of the following account is credited with the amount of money already received on such shares?
• On an equity share of Rs. 20, the company has called up Rs. 16 but Rs.14 has been received by the company, the share capital account should be credited by ……
• Share forfeited Account is shown on the liabilities side of the balance sheet‐‐‐‐‐‐‐‐‐‐‐‐
• Profit on the re‐issue of forfeited shares is transferred to ‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐ account.
• Once the share premium account is credited the same, if the premium is not received.
• When company converts its equity shares into capital stock, the account to be credited is …
• When 8,00,000 shares of Rs.10 each is converted in to 80,000 shares of Rs.100 each, it is a case of ………