Company Accounts PYQ

Nominal share capital is :

Sahil, a share holder, failed to pay the money for second and final call of Rs. 20 on 1,000 shares issued to him at Rs. 120 (face value of Rs. 100 per share). His shares were forfeited after the second and final call. Which is correct about share forfeiture:

ABC Ltd., Issued 3,000, 14% Debentures of Rs. 100 each at a discount of 5% on April 1, 2023. Interest on these debentures is payable annually on March 31 each year. The debentures are redeemable at par in three equal instalments at the end of the third, fourth and fifth year. Discount on issue of debentures is-

Which company doesn't restricts the right to transfer its shares?

A private company is one which. (A) restricts the right to transfer share.. (B) limits the number of members to 200. (C) must have at least 2 persons. (D) inculde a company which is subsidiary of public company. Choose the correct answer from the options given below:

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,.

The maximum number of members in a private company can be .......

The Profit on reissue of forfeited shares is transferred to:

__________ is that portion of the subscribed capital which has not been demanded by the company. The company may collect this amount any time when it needs further funds :-

Debenture Application & Allotment A/c Dr. 95,000 Loss on Issue of Debentures A/c Dr. 10,000 To 9% Debenture A/c 1,00,000 To Premium on Redemption of Debentures A/c 5,000 On the basis of the above entry, determine the rate of discount at which Rs. 1,00,000, 9% debentures of Rs. 100 each were issued if they were to be redeemed at a premium of 5%.

Which combination of following statements are Incorrect (False) about debentures- (A) Debenture is a part of owned capital. (B) The payment of interest on debentures is a charge on the profits of the company. (C) The debentures cannot be issued at a discount of more than 10% of the face value. (D) Debentures cannot be converted into shares. (E) Redeemable debentures are those debentures, which are payable on the expiry of the specific period. Choose the correct answer from the options given below:

Match List-I with List-II | List-I | List-II | |---|---| | (A) Authorized capital. | (I) Mentioned in Prospectus. | | (B) Issued capital. | (II) Mentioned In Memorandum Of Association. | | (C) Subscribed capital. | (III) called up capital-calls in arrears. | | (D) Paid up capital. | (IV) Capital for which application is received. | Choose the correct answer from the options given below:

Reserve capital is

Arrange the following steps in the procedure of share issues in the correct sequence: (A) Receipt of Applications (B) Allotment of Shares (C) Issue of Prospectus (D) Listing on the stock exchange Choose the correct answer from the options given below:

From an accounting point of view, arrange the following share capital of the company in the correct sequence: (A) Subscribed Capital (B) Authorized Capital (C) Called up Capital (D) Issued Capital Choose the correct answer from the options given below:

Match List-I with List-II | List–I | List–II | | ----------------------- | ----------------------------------------------- | | (A) Authorized capital | (I) Mentioned in Prospectus. | | (B) Issued capital. | (II) Mentioned in Memorandum of Association. | | (C) Subscribed capital. | (III) called up capital–calls in arrears. | | (D) Paid up capital. | (IV) Capital for which application is received. | Choose the correct answer from the options given below:

Which among the following debentures are the debentures which can be transferred by way of delivery and the company does not keep any record of the debentures. Interest on the debentures is paid to a person who produces this interest coupon attached to such debentures?

When debentures are issued at par and are redeemable at a premium, the loss on such issue is debited to :

Interest on calls in arrears is charged according to "Table F" at :

Which of the following is not the characteristics of company-

Nominal share capital is-

Which of the following debentures do not have a specific charge on the assets of the company.

Match List-I with List-II | List-I | List-II | |---|---| | (A) Companies Limited by Shares | (I) When the company's property is not sufficient to pay off its debts, the private property of its members can be used for the purpose. | | (B) Companies Limited by Guarantee | (II) Restricts the right to transfer its shares | | (C) Unlimited Companies | (III) If a member has paid the full amount of the shares, there is no liability on his part whatsoever for the debts of the company. | | (D) Private Company | (IV) The liability of its members is limited to the amount they undertake to contribute in the event of the company being wound up. | Choose the correct answer from the options given below:

There must be an interval of how many months between the making of two calls unless otherwise provided by the articles of association of the company.