Company Accounts PYQ

Steps for Forfeiture of Shares- (A) Issue of Prospectus (B) Shares Forfeiture (C) Receipt of Application (D) Allotment of Shares Choose the correct answer from the options given below:

Amount recieved on allotment:

Rohan to whom 600 shares were allotted must have applied for:

Money received on First Call is

Choose journal entries in the books of High Light India Ltd on receiving Application money :

Allotment money received in advanced alongwith application is _______________

Hari, the holder of 1200 shares paid the amount due on first call @ Rs 2/- per share along with second and final call which became due after 1 month from the due date of first call. What interest will be charged from Hari on calls in arrears:

Match List-I with List-II | List-I | List-II | |---|---| | (A) Authorised Capital | (i) It is that part of the subscribed capital which has been called up on the shares. | | (B) Issued Capital | (ii) It is that part of the issued capital which has been actually subscribed by the public. | | (C) Subscribed Capital | (III) It is that part of the authorised capital which is actually issued to the public for subscription. | | (D) Called up Capital | (IV) The amount of share capital which a company is authorised to issue by its Memorandum of Association | Choose the correct answer from the options given below:

Match List-I with List-II | List-I | List-II | |---|---| | (A) For Transfer of Application Money | (I) Share Allotment A/c Dr. To Share Capital A/c | | (B) For Money Refunded on Rejected Application | (II) Share Application A/c Dr. To Share Capital A/c | | (C) For Amount Due on Allotment | (III) Share Application A/c Dr. To Bank A/c | | (D) For Receipt of Allotment Money | (IV) Bank A/c Dr. To Share Allotment A/c | Choose the correct answer from the options given below:

Match List-I with List-II | List-I | List-II | |---|---| | (A) Unsecured Debentures | (I) These debentures are issued with a specified rate of interest. | | (B) Redeemable Debentures | (II) These debentures do not have a specific charge on the assets of the company. | | (C) Specific Coupon Rate Debentures | (III) These are those which are payable on the expiry of the specific period either in lump sum or in instalments during the life-time of the company. | | (D) Bearer Debentures | (IV) The debentures which can be transferred by way of delivery and the company does not keep any record of the debentures. | Choose the correct answer from the options given below:

Correct steps in the procedure of issue of shares are- (A) Allotment of Shares (B) Calls in Arrears (C) Issue of Prospectus (D) Receipt of Applications Choose the correct answer from the options given below:

XYZ Ltd. purchased assets worth Rs. 3,00,000 from Blue Prints Ltd., and took over its liabilities worth Rs. 20,000 for a purchase consideration of Rs. 3,15,000. XYZ Ltd. paid the purchase consideration by issuing 12% debentures of Rs. 100 each at a premium of 5%. How many debentures would be issued, if debentures were issued at par?

Which of the following is not a feature of a Company:

Which of the following is called Registered capital of a company?

Jain and Co. purchased a machine from Young Life Machine Limited for Rs. 3,80,000. As per the purchase agreement, Rs. 20,000 were paid in cash and balance by issue of shares of Rs. 100 each. How many shares are issued if the shares are issued at 20% premium.

Blue Prints Ltd., account will be :

Number of debentures issued are :

Which situation is not true about Issue of Debentures-

Which account, and with what amount, will be debited for the excess amount of the net assets over purchase consideration at the time of the purchase of the business by XYZ Ltd,.

While issuing the share capital for public subscription where there is no articles of association of its own, the following provisions of Table A will apply: (A) A period of one month must elapse between two calls. (B) The amount of call should not exceed 25% of the face value of the share. (C) A minimum of 7 days' notice is given to the shareholders to pay the amount. (D) Calls must be made on a uniform basis on all shares within the same class. Choose the correct answer from the options given below:

G.S. Rai company ltd. purchased assets of the book value of Rs. 98,000 from another firm. It was agreed that purchase consideration be paid by issuing 11% debentures of Rs. 100 each. Assume debentures have been issued at discount of 20% Identify the number of debentures issued by the company to the vendor

If a company issue Rs. 1,00,000, 9% debentures of Rs. 100 each at discount of 5% but redeemable at premium of 5% then what amount will be debited to Loss on Issue of Debentures Account?