Class XII

Entry for reissue of forfeited shares at discount will be
  1. Bank A/c Dr. Share Forfeiture A/c Dr. To Share Capital A/c
  2. Share Capital A/c Dr. Share Forfeited A/c Dr. To Bank A/c
  3. Bank A/c Dr. To Share Capital A/c
  4. Bank A/c Dr. Share Capital A/c Dr. To Share Forfeited A/c
Which capital is to be stated in the Memorandum of Association of a company?
  1. Called up capital
  2. Subscribed capital
  3. Issued Capital
  4. Authorised Capital
Discount on Reissue of shares cannot be more than the _________
  1. Called up amount
  2. Forfeited Amount
  3. Amount not received on allotment
  4. Face value of share
Following Entry takes place when: Bank A/c Dr. To Share Application A/c
  1. Application money is refunded
  2. Application money is received
  3. Application money is adjusted
  4. Both Application money is adjusted and Application money is refunded
Share Capital Account should be debited (at the time of forfeiture) with:
  1. Paid up amount
  2. Premium Amount
  3. Face Value
  4. Called up amount
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LKG - 12th

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