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प्रश्न
Z Ltd. forfeited 1000 equity shares of Rs 10 each for the non-payment of the final call of Rs 2 per share. Calculate the maximum amount of discount at which these shares can be reissued.
उत्तर
The maximum discount at which these shares can be re-issued is the credit balance in the Share Forfeiture A/c i.e. Rs 8,000 (1,000 × 8).
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संबंधित प्रश्न
Scooters India Ltd' is registered with an authorized capital of Rs 50,00,000, divided into 5,00,000 shares of Rs 10 each. The company issued 1, 00,000 shares for subscriptions to the public at par. The amount was payable as follows :
On application and allotment - Rs 3 per share
On 1st call - Rs 2 per share
On 2nd and final call - Rs 5 per share
The issue was fully subscribed. All calls were made and were duly received except 2nd and the final call on 1,000 shares held by Rohan. His shares were forfeited and afterwards re-issued at Rs 8 per share as fully paid up. Present 'Share Capital' in the Balance Sheet of the company as per Schedule VI of the Companies Act, 1956. Also, prepare Notes to accounts for the same.
Y Ltd. forteited 100 equity shares of Rs 10 each for the non-payment of first call of Rs 2 per share. The final call of Rs 2 per share was yet to be made.
XXL Ltd. converted its 500, 9% debentures of Rs 100 each issued at a dsicount of 8% into equity shares of Rs 10 each issued at a premium of 25%. Discount on issue of debentures has not yet been written off.
Showing your workings clearly pass necessary Journal Entries on conversion of 9% debentures into equity shares.
Y Ltd. invited applications for issuing 2000, 9% debentures of Rs 100 each at a discount of 10%. The whole amount was payable at the time of application. Applications for 2400 debentures were received and pro-rata allotment was made to all the applicants.
Pass necessary journal entries for the issue of debentures.
List the categories of individuals other than the minors who cannot become the members of a partnership firm
Give one word/term/phrase for the following statement.
Amount called-up on shares by the company but not received.
Give one word/term/phrase for the following statement.
Issue of share at its face value
Give one word/term/phrase for the following statement.
The capital which is subscribed by the public.
State whether you agree or disagree with following statement:
When the issued price of share is ₹ 12 and face value is ₹ 10, the share is said to be issued at premium.
Answer in one sentence only.
Which account is debited when share first call money is received?
Answer in one sentence only.
What do you mean by Shares Issued at Premium?
____________ shareholders are the real owners of the company.
The part of Authorised Capital which is not issued to the public is known as ___________ Capital.
10000 equity shares of ₹ 10 each issued at 10% premium. Calculate the total amount of share premium.
Sucheta Company Limited issued ₹ 20,00,000 new capital divided into ₹ 100 equity shares at a Premium of ₹ 20 per share payable as ₹ 10 on Application ₹ 40 on Allotment and ₹ 10 premium ₹ 50 on Final call and ₹ 10 premium.
The issue was oversubscribed to the extent of 26000 equity shares. The applicants on 2000 shares were sent letter of regret and their application money was refunded. Remaining applicants were alloted share on pro-rata basis. All the money due on Allotment and Final call was duly received.
Make necessary Journal entries in the books of Sucheta Company Ltd.
Krishan Ltd has Issued Capital of 20, 00,000 Equity shares of ₹10 each. Till Date ₹8 per share have been called up and the entire amount received except calls of ₹4 per share on 800 shares and ₹3 per share from another holder who held 500 shares. What will be amount appearing as ‘Subscribed but not fully paid capital’ in the balance sheet of the company?
Radhey Ltd. took over assets of ₹ 14,00,000 and liabilities of ₹ 6,00,000 of Krishna Ltd. Radhey Ltd. paid the purchase consideration by issuing 10,000, 8% Debentures of 100 each at a premium of 10%.
Pass necessary journal entries in the books of Radhey Ltd.
Reliance company Limited invited applications for 50,000 Equity Shares of ₹ 100 each at par, payable as follows:
| On Application | ₹ 30 |
| On Allotment | ₹ 40 |
| On First & Final Call | ₹ 30 |
The public applied for 35,000 shares and all these were allotted. All money due were collected with an exception of first & final call on 4000 shares, these were forfeited. All forfeited shares were re-issued by the Directors at ₹ 80 per share.
Pass Journal Entries in the Books of Reliance Company Limited.
Amar Ltd. issued 1000 equity shares of ₹ 100 each at par payable ₹ 30 on Application, ₹ 40 on Allotment and ₹ 30 on First and Final call. The company received applications for 1,200 shares. The Board of Directors rejected 200 applications and application money was refunded. All the money was duly received. Show journal entries in the books of Amar Ltd.
Ananya Limited invited applications for 50,000 equity shares of ₹ 10 each payable as ₹ 2.50 on Application ₹ 5 on Allotment ₹ 2.50 on Final call.
Applications were received for 60,000 equity shares and pro-rata allotment were made to all. All the money was duly received except Final call on 5,000 equity shares.
Pass journal entries in the books of Ananya Limited and show it in the Balance sheet.
