#share capital

Financial Statements 1

Under which of the following head/ sub-head is ‘forfeited shares’ presented in the balance sheet of a company?

Share capital financial statements correct; Schedule III format Companies Act 2013.

Ref: NCERT Accountancy Class XI Chapter 9 Financial Statements explains trading profit loss balance sheet preparation format Schedule III.

View Details

Company Accounts 1

600 shares of ₹ 10 each were forfeited for non-payment of ₹ 2 per share on first call and ? 5 per share on final call. S

₹ 1,800 company accounts correct; share issue forfeiture pro-rata per Companies Act.

Ref: NCERT Accountancy Class XII Chapter 6 Company Accounts explains company formation share capital issue accounting treatment Companies Act 2013 provisions.

View Details

Company Accounts 1

A company issued 10,000 shares of ₹10 each. Amount is payable as ₹ 2 on application, ₹ 5 on allotment and ₹ 3 on first a

₹ 92,000 company accounts correct; share issue forfeiture pro-rata per Companies Act.

Ref: NCERT Accountancy Class XII Chapter 6 Company Accounts explains company formation share capital issue accounting treatment Companies Act 2013 provisions.

View Details

Company Accounts 1

When a company issues shares at a premium, the amount of premium may be received by the company:

Along with any of the above company accounts correct; share issue forfeiture pro-rata per Companies Act.

Ref: NCERT Accountancy Class XII Chapter 6 Company Accounts explains company formation share capital issue accounting treatment Companies Act 2013 provisions.

View Details

Company Accounts 1

On forfeiture, the amount so far paid by the shareholder is forfeited is credited to _____

Forfeited shares A/c company accounts correct; share issue forfeiture pro-rata per Companies Act.

Ref: NCERT Accountancy Class XII Chapter 6 Company Accounts explains company formation share capital issue accounting treatment Companies Act 2013 provisions.

View Details

Share Capital

A company forfeited 3,000 shares of ₹10 each (which were issued at par) held by Kishore for non-payment of allotment mon

₹ 24,000 company accounts correct; share issue forfeiture pro-rata per Companies Act.

Ref: NCERT Accountancy Class XII Chapter 6 Share Capital explains issue forfeiture reissue pro-rata allotment calls arrears accounting treatment Schedule III.

View Details

Accounts of Not-for-Profit Organisations

Minimum subscription should be 95% of the issued capital.

False correct NPO treatment; receipt payment cash, income expenditure accrual basis.

Ref: NCERT Accountancy Class XII Chapter 1 Not-for-Profit Organisation explains receipt payment income expenditure account subscription calculation treatment.

View Details