Question 1 :
X Ltd. forfeited $30$ shares of $Rs. 10$ each fully called-up for non-payment of allotment of $Rs. 3$ per share and call money of $Rs. 4$ per share. These shares are reissued for $Rs. 8$ per share fully paid. What is the amount to be transferred to Capital Reserve Account?

Question 2 :
Consider the following information pertaining to the issue of shares of a company. The company issued shares of $Rs. 10$ each at a premium of $Rs. 2$ payable as:<br/>On application $Rs. 3$; On allotment $Rs. 4$ (including premium); On first call $Rs. 3$; On second and final call $Rs. 2$.<br/>Mrs. A who holds $200$ shares failed to pay the first call money. The company has forfeited these shares after the first call. On forfeiture, the amount debited to share capital account is ______________.

Question 3 :
D Ltd. forfeited $200$ shares of $Rs. 10$ each, $Rs. 7$ called up on which Ram had paid only application money $Rs. 3$ per share. Of these, $125$ shares was reissued to Shyam for $Rs. 9$ per share fully paid. What will be balance in the Share Forfeited A/c after reissue of $125$ shares?

Question 4 :
The directors of a company resolve to forfeit $1000$ Equity Shares of $Rs. 10$ each, $Rs. 7.50$ paid up. $700$ of these shares were reissued at $Rs. 7.00$ per share. The amount to be transferred to Capital Reserve would be ______________.

Question 5 :
A Ltd. issued shares of $Rs. 10$ each at a discount of $10$%. Mr. B purchased $60$ shares and paid $Rs. 2$ on application but did not pay the allotment money of $Rs. 3$. If the company forfeited his entire shares, the forfeiture account will be credited by _____________.

Question 6 :
A company forfeited $1,000$ shares of $Rs. 10$ each (which were issued at par) held by Mr. John for non-payment of allotment money of $Rs. 4$ per share. The called-up value per share was $Rs. 9$. On forfeiture, the amount debited to share capital will be ________________.

Question 8 :
Z Ltd. Forfeited $20$ shares of $Rs. 10$ each, on which $Rs. 4$ per share were paid. What is the minimum price of reissue of these shares are fully paid up?

Question 9 :
When shares are issued to promoters for their services, the account that will be debited is ______________.

Question 10 :
The discount allowed on reissue of forfeited shares is debited to _________________.

Question 11 :
A company forfeited $100$ shares of $Rs. 10$ each owing to the default in the payment of share call money of $Rs. 5$ each. These shares were issued at $Rs. 10$ each, payable at $Rs. 2$ on application, $Rs. 5$ on allotment and the balance of $Rs. 5$ on call. The shares were then reissued to another shareholder at a price of $Rs. 7$ per share.<br/>The amount to be debited to forfeited shares account on account of discount on re-issue of shares would be ______________.

Question 12 :
Which one of the following statements regarding forfeiture of shares is not correct?

Question 13 :
X Ltd. forfeited 10 shares of Rs 10 each issued at a discount of 10% to Y on which a second &amp; financial call of Rs 4 was not yet called and a first call of Rs 4 was not received. 8 of these shares were reissued as Rs 8 called up for Rs&#160;7.50 per share. On reissue, the Share Capital will be ____________.<span><br/></span>

Question 14 :
A company forfeited $30$ equity shares of $Rs.10$ each fully called up, for non-payment of allotment money of $Rs. 4$ each. If these shares are reissued at $Rs. 7$ per share fully paid, the amount transferable to Capital Reserve will be _______________.

Question 16 :
Y Ltd. forfeited 50 shares of Rs 100 each issued at 10% premium on which allotment money of Rs 30 per share (including premium) and first call of Rs 30 per share were not received and the second and final call of Rs 20 per share was not yet called. 20 of these shares as Rs 80 paid up for Rs 70 per share.<br/>On re-issue, the Share Capital Account will be ___________________.

Question 17 :
Use the following information for questions given ahead:<br/>B Ltd. was registered with a share capital of $Rs. 2,00,00,000$ divided into equity shares of $Rs. 10$ each. It issued $Rs. 1,80,00,000$ equity shares to the general public at par payable as to $Rs. 3$ on application, $Rs. 3$ on allotment and balance in $2$ equal calls. The public had subscribed for $17,00,000$ shares. Till $31st$ March, $2006$, only first call had been made. All the shareholders had paid up except Mr. C, a holder of $50,000$ shares, who did not pay the call money.<br/>B Ltd.'s Called-up Capital will be _______________.

Question 18 :
A Company forfeited 20 shares of Rs.10 each, Rs.7 called up, on which application money of Rs.5 per share was paid. The entry for forfeiture is ___________.

Question 19 :
The journal entry for the issue of shares at a premium to be recorded at the time of allotment is:

Question 20 :
On a share of Rs. 10 on which Rs 8 has been called up but Rs. 5 has been paid forfeited. The share capital account should be debited by:

Question 21 :
Deepthi, a shareholder holding $800$ shares of Rs.$10$ each, did not pay the allotment money of Rs. $4$ per share (including a premium of Rs. $2$) and the first and final call of Rs. $3$. Her shares were forfeited after the first and final call. Give journal entry for forfeiture of the shares. <br>

Question 22 :
B Ltd. issued 1,00,000 equity shares of Rs. 10 each to the public at par. The details of the amount payable are as follows:<br/>Application&#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; Rs. 2.00<br/>Allotment&#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160;Rs. 3.00<br/>First &amp; final call &#160; &#160; &#160; &#160; Rs. 5.00<br/>Applications were received for 1,20,000 shares. Excess application monies were refunded. All other amount was received excepting final call on 1,000 shares. These shares were forfeited and reissued at Rs. 8 per share.<br/><span>On reissue of&#160;forfeited shares, discount debited to share forfeiture account will be ______.</span><br/>

Question 23 :
Any balance in the share forfeiture account after all the forfeited share are re-issued should be:

Question 24 :
M/s. ABC Ltd. forfeited $20$ shares of $Rs. 10$ each, $Rs. 8$ called up, on which $X$ has paid application an allotment money of $Rs. 2$ and $Rs. 3$ respectively. These shares were reissued to Y at $Rs. 6$ each fully paid. What was the balance in share forfeiture account before the shares were reissued?

Question 25 :
X Ltd. made a final call on equity share @Rs. 20 each. face value of share is Rs. 100. one share holder holding 300 shares paid the final call after 2.5 months after it has become due.the company had adopted Table F of schedule I to the companies Act 2013 , the amount of interest on Calls-in-Arrear=?

Question 26 :
If forfeited shares are re-issued at a premium, the amount of such premium should be creted to ______________.

Question 28 :
<span>A Ltd. acquired&#160;assets worth Rs. 71,25,000 from H Ltd. by issue of shares of Rs. 10 @ premium of&#160;25%. The number of shares issued to settle the purchase consideration will be ____.</span>

Question 29 :
Statement $1$: Discount on issue of shares should be shown on the asset side of the balance sheet.<br>Statement $2$: The discount has to be written off even through profit and loss account<br>Choose the correct.

Question 30 :
A company forfieted 1,000 shares on 10 each (which ere issued at par) held by Saurabh for non-payment of allotment money of Rs. 4 per share. The called-up value per share was t 8. On forfeiture, the amount debited to share capital account will be _____________.

Question 31 :
F Ltd. forfeited 50 shares of Rs 100 each issued at 10% premium (to be paid at the time of allotment) on which first call of Rs 30 per share was not received, the second &amp; final call of Rs 20 per share was not yet called. If 20 of these shares were re-issued as Rs 80 paid-up for Rs 90 per share, the Profit on re-issue is-<span><br></span>

Question 32 :
On an equity share of $Rs. 20$, the company has called up $Rs. 18$ but actually received $Rs. 16$ only. The difference of $Rs. 2$ will be debited to ________.

Question 33 :
A limited company forfeited 300 shares of Mr. X who had applied for 500 shares on account of non-payment of allotment money Rs 3 + 2 (premium) and first call Rs 2. Only Rs 3 per share was received with application. Out of these 200 shares were re-issued to Mr. Y as fully paid shares for Rs 8 per share. The profit on re-issue is __________.

Question 34 :
Large Ltd. issued 25,000 equity shares of Rs.100 each at a premium of Rs.15 each payable as Rs.25 on application, Rs.40 on allotment and balance in the first call. The applications were received for 75,000 equity shares. The above is the case of ____________.