ABC Limited is a company with an authorized share capital of Rs 1,00,00,000 on equity shares of Rs 10 each, of which 6,00,000 shares had been issued and fully paid on 30th June,2016. The company proposed to make a further issue of Rs 1,00,000 of these Rs 10 shares at a price of Rs 14 each, the arrangements for payment being: (a) Rs 2 per share payable on application, to be received by 1st July 2016 (b) Allotment to be made on 10th July, 2016 and a further Rs 5 per share ( including premium) to be payable; (c) The final call for the balance to be made, and the money received by 30th April 2017. Applications were received for 3,55,000 shares and were dealt with as follows :- (i) Applicants for 55,000 shares were rejected on allotment. (ii) Balance shares were allotted pro rata basis. Excess application money adjusted towards share allotment account. Mr. Thomas who had applied for 1500 shares failed to pay allotment money and call money. His shares were forfeited after the final call. Later all the forfeited shares were reissued at Rs 9 per share.
1. The authorized capital of ABC consist of _____ number of shares
2. Total issued capital of the company is Rs________
3. The Amount of Premium on each of the 1,00,000 shares issued is Rs_______________
4. Total application money received by the company Rs___________
5. Company refunded Rs ___________ to the applicants of shares
6. Rs _________is adjusted towards allotment account from application account
7. Number of shares forfeited from Mr Thomas is _________
8. Allotment money unpaid by Mr Thomas is Rs ___________
9. Total allotment money received by the company is Rs____________
10. Amount credited to share forfeiture account is Rs _______
11. The discount allowed on re issue of all the forfeited shares is Rs _________
12.The amount transferred from share forfeiture account to capital reserve is Rs ___________