When forfeited shares (which were originally issued at a discount ) are reused at a premium, the amount of such premium will be credited to

Related MCQs

• Madhu Ltd. forfeited 800 shares of `10 each issued at 10% premium to Shyam (` 9 called up) on which he did not pay ` 3 of allotment (including premium) and first call of `2. Out of these, 600 shares were re-issued to Ram as fully paid up for `9 per share. What is to amount to be transferred to capital Reserve?
• If 500 shares of 10 issued at a premium of 1 on which 9 (including premium) have been called and 7 including premium have been paid are forfeited, the forfeiture account should be credited by :
• ABC Ltd. makes payments to its Sundry Creditors through cheques and the Cash Discount received on these payments is recorded in the Triple-columnar Cash Book. In the event of dishonour of any such cheques, the discount so received should be written back through (i) A debit to discount column of the Cash Book (ii) A credit to discount column of the Cash Book (iii) A credit to bank column of the Cash Book (iv) A debit to Discount Account through Journal Proper (v) A credit to Creditor‘s Account through Journal Proper
• The balance of the forfeited shares account after re-issue of forfeited shares is transferred to :
• The balance of the forfeited shares account after reissue of forfeited shares account is transferred to:
• When shares issued at premium which of the following account is credited?
• Preference shares, in case the holders of these have a right to convert their preference shares into equity shares at their option according to the terms of issue, such shares are called :
• Discount allowed on re-issue of forfeited shares is debited to :
• Discount allowed on reissue of forfeited shares is debited to:
• A company issued 2000 equity shares which were underwritten by A. The company received applications for 2400 shares. Hence A will get his commission on the issue price of