CUET UG 2023 — Company Accounts

When a company reserve a portion of its uncalled capital to be called in the event of winding up, such uncalled capital is known as:-

A company can buy its own shares when-

Debentures that will be redeemed only at the time of winding up of the company are known as :

Determine the amount to be transferred to Capital Reserve on reissue of Rahul's Shares

Match List - I with List - II. | List - I | List - II | |----------|-----------| | (A) Application money should be at least ____% of the face value of the share | (I) 25% | | (B) The amount of Call should not exceed ____% of the face value of the share | (II) 90% | | (C) Minimum subscription of capital cannot be less than ____ of the issued amount according to SEBI guidelines | (III) 10% | | (D) Interest charged on call-in-arrears is @ ______ p.a. | (IV) 5% | Choose the correct answer from the options given below :

Debentures issued for consideration other than cash includes, debentures : (A) Issued to bank as additional security (B) Issued to vendor (C) Issued to Public (D) Issued to creditor (E) Issued for cash Choose the correct answer from the options given below :

How much amount is to be debited in statement of profit and Loss to write off loss on Issue of Debentures ?

Identify the amount by which bank account would be debited/credited on refund of rejected applications

The paid up share capital of "One Person Company" cannot be more than :

Calculate the amount of Dividend paid during the year 2022 from the following information : Balance of Proposed Dividend as on 31st March, 2021 was Rs. 40,000 and on 31st March, 2022 Rs. 60,000. Interim Dividend was paid @20% on share capital. Share capital was Rs. 4,00,000.

The process of receiving minimum subscription of 90% of the entire issue must be completed within ______ days from date of issue of prospectus

Balance of Share Forfeiture account is shown in the Balance Sheet under the item:-

Under which Sub head we show the Security Premium in Balance Sheet ?

Find the correct sequence of procedure of issue of shares : (A) Receipt of Applications (B) Issue of prospectus (C) Allotment of Shares (D) Making call money due (E) Receiving Call money Choose the correct answer from the options given below :

Identify those debentures on which no interest will be paid/provided.

What will be the amount of premium on Redemption of Debentures.

While issuing 10% debenture of Rs. 12,00,000 at 10% discount. What amount should be transferred to "Discount on issue of debenture A/c" if all amount is received in one instalment ?

Company raised a loan of Rs. 5,00,000 from PNB against 5% debenture of Rs. 8,00,000 of Rs. 100 each as a collateral security. The "Debenture suspense A/c" will be debited with :

Securities premium cannot be used:

Arrange the following steps in correct sequence with regard to Shares of a company. (A) Making Calls (B) Forfeiture of Shares (C) Issue of Prospectus (D) Calls in Arrears (E) Reissue of Shares Choose the correct answer from the options given below :

State the correct order of categories of Share Capital as shown in 'Notes to Accounts' of Balance Sheet of a company. (A) Subscribed and Fully paid up Capital (B) Issued Capital (C) Subscribed but not fully paid up Capital (D) Authorised Capital (E) Share forfeited Account Choose the correct answer from the options given below :

XYZ Ltd. issued another category of debenture which are perpetual in nature. What type of debentures they are called :

Select the amount received on Share Allotment Account -

Match List - I with List - II. | List - I | List - II | |----------|-----------| | (A) Over Subscription | (I) Minimum amount that must be raised by issue of shares | | (B) Minimum subscription | (II) Application received is more than shares issued | | (C) Under Subscription | (III) Allotment of shares without issue of prospectus | | (D) Private Placement | (IV) Application received is less than shares issued | Choose the correct answer from the options given below :

Match List - I with List - II. | List - I | List - II | |----------|-----------| | (A) Authorised Capital | (I) A portion of uncalled share capital will be called at the time of winding up | | (B) Reserve Capital | (II) Maximum amount of share capital a company could raise during its life time | | (C) Issued Capital | (III) Capital issued to public for subscription | | (D) Subscribed but not fully paid capital | (IV) Amount called up and received but not fully | Choose the correct answer from the options given below :

AB&Co. purchased assets worth Rs. 28,80,000 from vendor. It issued debentures of Rs. 100 each at a discount of 4% in full satisfaction of the purchase consideration. The number of debentures issued to vendor is :

XYZ Ltd. issues 10% debentures of Rs. 12,00,000 of Rs. 100 each at a discount of 10% which will be repayable after 6 years. What type of debenture it is ?

Identify the number of shares with which A ltd is registered.

The balance, if any, left in the share forfeited account relating to reissued shares, should be transferred to _______

Redemption of Debenture can be done by many ways. Identify the wrong option.

Match List - I with List - II. | List - I | List - II | |---|---| | (A) Equity Share | (I) Fixed Dividend | | (B) Preference Share | (II) No hold over Assets | | (C) Secured Loan | (III) Hold over Assets | | (D) Unsecured Loan | (IV) Voting Right | Choose the correct answer from the options given below :

Arrange the following in the context of "Buy Back of Shares". A. Articles of Association must authorise Buy Back of share B. Buy Back should be completed within 12 months C. Maintaining debt equity ratio of not more than 2:1 after Buy Back D. Passing Special Resolution in annual general meeting E. Filing solvency declaration with registrar and SEBI Choose the correct answer from the options given below:

Identify the ratio in which shares are issued on Pro-rata basis.

Read the following facts about shares and debentures. (A) Both shares and debentures can be issued by a company for raising long term funds. (B) Both shares and debentures can be issued for consideration other than cash. (C) Both shares and debentures can be issued at premium (D) Debentures can be converted into shares and shares can be converted into debentures (E) Dividend is paid on shares and debentures both Choose the correct answer from the options given below :

Interest payable on the Debentures issued for the year ended Mar, 31st 2023 will be :

Before forfeiture of Rahul's shares, who are required to issue notice in this regard.

On 1st July/22, Centaur Ltd. issued Rs. 25,00,000 8% debentures of Rs. 100 each as collateral security to first Level Bank against loan dues of Rs. 20,00,000. How much amount will be shown in the Balance sheet?

When a company issues shares in open market and the amount is payable in instalments. What is the sequence of amount demanded by the company? A. Money received on calls B. Money due on calls C. Allotment money received D. Application money transferred to Share Capital A/c E. Allotment money due. Choose the correct answer from the options given below:

If 5% debenture of Rs. 8,00,000 of Rs. 100 were issued at 15% premium. Amount is payable as Rs. 25 on applications, Rs. 50 on allotment and Rs. 40 on 1st and final call. How much amount should be credited to "Security Premium Reserve A/c".

Record journal entry for forfeiture of Rahul's shares.

Which of the following option regarding issue and redemption of debenture is not possible in general?

Select the amount that is received from Hari's reissued shares -

Determine the number of Debentures to be issued.

Identify the account to which the discount allowed on reissue of forfeited shares should be debited.