Talent sports Club is engaged in the activity of identifying and promoting sports talent from rural and tribal areas of the country. Identifying with this Noble cause Mr Manohar a renowned industrialist donated Rs. 50,00,000 on 1stJuly 2020, for the construction of a new hostel and mess for upcoming sportsmen.
Besides this Mr Manohar offered the services of his personal chartered accountant,free of charge, to streamline the account of Total Sports Club. The chartered accountant visited the office of the NPO on 31st March 2021 and found that till date rupees 35,00,000 had been spent on construction of hostel and mess building. he also noted that the NPO had a capital fund of Rs.1,20,00,000 in the beginning of the year. Other important points that he noted were that NPO had 2000 regular members each having an annual subscription of Rs.2000 per annum.
On 1st April 2020, 180 members had not paid for subscription of previous year and 20 members had paid for 2020-2021 in advance (out of which 5 had paid advance of 2021- 2022 as well) 31st March 2021, 110 Members he had outstanding balance (hey including 50 who had not paid for 2019-20 as well) and 25 members had paid for 2021- 2022 in advance (including all 5 who had paid in advance in 2019-20) Since the accountant of NPO was not clear about how to deal with all the above information he drafted a set of questions for guidance. Considering that you are the Chartered Accountant of Mr. Manohar answer the following questions based on the information detailed above.
1.The amount of Rs. 50,00,000 received from Mr Manohar towards building and mess should be transferred to

2.The amount of Rs. 35,00,000 spent on construction of building should be:
I. reflected on debit side of income and expenditure account as an expense.
II. reflected on asset side of balance sheet.
III. reflected as a deduction from Building fund and addition to capital fund.
IV. Not be recorded till the building is complete.
On basis of given information choose which of the following stands true

3.The amount of subscription in arears on 1st April 2020 is:

4.The amount of subscription in arears on 31^st March 2021 is

5.The amount of subscription in advance on 31st March 2021 is:

6.The amount of subscription to be transferred to income and expenditure account for the year ended 31st March 2021 is:

Nidiya limited was incorporated on 1st April 2017 with registered office in Mumbai. The capital clause of memorandum of Association reflected a registered capital of 8,00,000 equity shares of Rs.10 each and 1,00,000 preference shares of Rs.50 each.
Since some large investments were required for building and machinery the company in consultation with vendors,Ms.VPS Enterprises, issued 1,00,000 equity shares and 20,000 preference shares at par to them in full consideration of assets acquired. Besides this the company issued 2,00,000 equity shares for cash at par payable as Rs 3 on application, 2 on allotment, 3 on first call and 2 on second call.
Till date second call has not yet been made and all the shareholders have paid except Mr. Ajay who did not pay allotment and calls on his 300 shares and Mr. Vipul who did not pay first call on his 200 shares. Shares of Mr. Ajay were then forfeited and out of them 100 shares were reissued at Rs.12 per share.
Based on above information you are required to answer the following questions.
1.Shares issue to vendors of building and machinery, Ms. VPS Enterprises, would be classified as:

2.How many equity shares of the company have been subscribed?

3.What is the amount of security premium reflected in the balance sheet at the end of the year?

4.What amount of share forfeiture would be reflected in the balance sheet?