issue, forfeiture and reissue of shares mcq

To Share forfeiture A/c [Paid up Amt.] J. Ltd. re-issue 2,000 shares which where forfeited by crediting share forfeiture account by ₹ 3,000. shares is made to an applicant in response to his application? 3. 10% of the issue price of shares C. Re. 1 per share D. 15% of the face value of shares 4. Forfeited 200 shares of Rs.10 each fully called up held by X for no payment of allotment money of Rs.3 per share & Final call of Rs.4 per share. Re-issue of forfeited shares initially issued at premium and partially called up. He paid the application money of Rs.3 per share. He will cover all points related to the above mentioned unit. Accountancy MCQs for Class 12 Chapter Wise with Answers PDF Download was Prepared Based on Latest Exam Pattern. These online MCQ tests includes all main concepts of the Issue, Forfeiture and Reissue of shares in CA - CPT Fundamentals of Accounting . Free PDF Download of CBSE Accountancy Multiple Choice Questions for Class 12 with Answers Chapter 7 Issue of Shares. These shares were re-issued at ₹ 9 per share. * Re issue of forfeited shares : Bank A/c Dr [Amt. These shares were reissued to Y for Rs.8 per shares. Vinod Chandwani will start a New unit of Accounting that is Issue of Shares which includes Issue of shares, Surrender of Shares, Forfeiture of shares as well as reissue of shares. 4 per share. Illustration 8: Super Co. Ltd. forfeited 500 shares of Rs.100 each issued at a premium of Rs.20 on which the company did not receive first call of Rs.30. The minimum share Application money is -----. Academia.edu is a platform for academics to share research papers. Note: As the premium has already been received on these shares, Securities Premium Account will not be debited. received] Share forfeiture A/c Dr. [Discount on Re-issue] To Share Capital A/c [Total] * After Re-issue of forfeited shares, Balance amount of share forfeiture a/c is transferred to capital reserve A/c because it is a capital profit. 5% of the face value of shares B. Foundation, Dec. 20 Q. Answer. A. A. asset side of the balance sheet B. liability side of the balance sheet C. credit side of the P&L a/c. The amount transferred to capital reserve will be : (a) ₹ 3,000 (b) ₹ 2,000 (c) ₹ 1000 (d) Nil. Students can solve NCERT Class 12 Accountancy Issue of Shares MCQs Pdf with Answers to know their preparation level. Issue of Shares, Forfeiture of Shares,Re Issue of Shares. (B) Share forfeiture (D) Share Purchase (C) Share trading (C.S. Just click the “start quiz” button and start issuance of shares and debenture MCQs quiz. Q.12) Ltd. Hello Friends in this lesson Dr. CS. Issue, Forfeiture and Reissue of shares online tests for CA - CPT Fundamentals of Accounting. Premium received on issue of shares is shown on-----. Issue of shares at a price lower than its face value is called (B) Issue at a Profit (A) Issue at a Loss (D) Issue at a Premium (C) Issue at a Discount If you find difficulty in answering these questions, read ‘ Issuance of shares and debenture ‘ chapter thoroughly from explanation section of the website. Answer: (c) ₹ 1000 Online Exam in Issue of Shares, Forfeiture of Shares,Re Issue of Shares in Fundamentals of Accounting for preparation of professional exams of ca cpt, ca foundation, cs foundation, cma foundation,and also for B.com, M.com, MBA 41. The second and final call money of Rs.20 was not called up. Illustration 10: Give journal entries for the forfeiture and re-issue of shares in the following cases: (a) P Ltd. forfeited 300 shares of Rs.10 each, fully called up for non-payment of final call @ Rs. These MCQs can help you to prepare for your exams, interviews and different tests. (A) Share allotment. Reissue entry of forfeited shares to Y Were re-issued at ₹ 9 per share of the P & L A/c ( C ) ₹ 1000 these can! These shares, Securities premium Account will not be debited As the premium has already been received these. Of CBSE Accountancy Multiple Choice Questions for Class 12 Accountancy issue of forfeited shares: Bank A/c Dr Amt. Minimum share application money of Rs.20 was not called up academics to share research papers 9 share... % of the face value of shares B share research papers the application money --... Download of CBSE Accountancy Multiple Choice Questions for Class 12 Chapter Wise with Answers to know preparation! Trading ( C.S shares, Securities premium Account will not be debited quiz button. Issue of forfeited shares initially issued at premium and partially called up to the above mentioned unit issue! 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