1 out of 10
Kiran Limited purchased machinery for12,00,000 from Rohan Limited. The company paid the amount by issue of equity shares of 10 each at a premium of 20%. The number of shares to be issued to Rohan Limited will be
2 out of 10
What will be the correct sequence of events? (i) Forfeiture of shares. (ii) Default on Calls. (iii) Re-issue of shares. (iv) Amount transferred to capital reserve. Options:
3 out of 10
Apaar Ltd forfeited 4,000 shares of ₹20 each, fully called up, on which only application money of ₹6 has been paid. Out of these 2,000 shares were reissued and ₹8,000 has been transferred to capital reserve. Calculate the rate at which these shares were reissued.
4 out of 10
Which of the following statement is/are true? (i) Authorized Capital < Issued Capital (ii) Authorized Capital ≥ Issued Capital (iii) Subscribed Capital ≤ Issued Capital (iv) Subscribed Capital > Issued Capital
5 out of 10
Vishnu Ltd. forfeited 20 shares of ₹10 each, ₹8 called up, on which John had paid application and allotment money of ₹5 per share, of these, 15 shares were reissued to Parker as fully paid up for ₹6 per share. What is the balance in the share Forfeiture Account after the relevant amount has been transferred to Capital Reserve Account?
6 out of 10
If 10,000 shares of ₹ 10 each were forfeited for non-payment of final call money of ₹ 3 per share and only 7,000 shares were re-issued @ ₹ 11 per share as fully paid up, then what is the amount of maximum possible discount that company can allow at the time of re-issue of the remaining 3,000 shares?
7 out of 10
A company forfeited 4,000 shares of ₹10 each on which application money of ₹3 has been paid. Out of these 2,000 shares were reissued as fully paid up and ₹4,000 has been transferred to capital reserve. Calculate the rate at which these shares were reissued.
8 out of 10
Attire Ltd, issued a prospectus inviting applications for 12,000 shares of ₹ 10 each payable ₹ 3 on application, ₹ 5 on allotment and balance on call. Public had applied for certain number of shares and application money was received. Which of the following application money, if received restricts the company to proceed with the allotment of shares, as per SEBI guidelines?
9 out of 10
Anish Ltd, issued a prospectus inviting applications for 2,000 shares. Applications were received for 3,000 shares and pro- rata allotment was made to the applicants of 2,400 shares. If Dhruv has been allotted 40 shares, how many shares he must have applied for?
10 out of 10
As per Section 52 of Companies Act 2013, Securities Premium Reserve cannot be utilised for: