The director of Poly Plastic Limited resolved that 200 equity shares of Rs.100 each be forfeited for non-payment of the second and final call of Rs.30 per share. Out of these, 150 shares were re-issued at Rs.60 per share to Mohit. Journal entry for creating capital reserve will be:
Held on 4 Jun 2025 · Verified 13 Jul 2026.
Shares Forfeiture A/c Dr. 3,500
To Capital Reserve A/c 3,500
Shares Forfeiture A/c Dr. 6,500
To Capital Reserve A/c 6,500
Shares Forfeiture A/c Dr. 4,500
To Capital Reserve A/c 4,500
Shares Forfeiture A/c Dr. 10,500
To Capital Reserve A/c 10,500
Sign in to track your attempts and accuracy.
Sign in to keep a private note on this question. Nothing you write is ever public.
Amount of discount allowed on the reissue of forfeited shares cannot exceed the amount that has:-
The period of how many month/months must elapse between two calls.
Which of the following statements are true with reference to a "company"? (A) The directors of the company are the owners of the company. (B) A company is an artificial person. (C) A company has its common seal. (D) The liability of the members of the company is limited to the extent of shares held by them Choose the correct answer from the options given below:
A share having a face value of Rs.12, on which Rs. 10 is called-up and Rs. 8 is paid, is forfeited. State the amount with which the Share Capital account will be debited
Match List-I with List-II | List-I | List-II | |---|---| | (A) Calls in advance | (I) The maximum number of members is 200. | | (B) Calls in arrears | (II) 12 % | | (C) Private company | (III) 10 % | | (D) Public company | (IV) No limit on the maximum number of members. | Choose the correct answer from the options given below:
Work through every CUET UG Company Accounts PYQ, year by year.