Company Accounts PYQ — Page 10

Discount allowed on reissue of forfeited shares should be debited to:

Discount allowed on re-issue of forfeited shares, will be:-

Disclosure of shares (specifying the number of shares held) in a company is required for each shareholder holding _________ shares.

Debentures which are transferable by mere delivery are:

Debentures which are transferable by mere delivery are:

Debentures can be issued at (A) Par (B) Premium (C) Discount (D) Transaction value Choose the correct answer from the options given below:

Debentures are issued at a discount. In which of the following the difference between their nominal value and the issue price is treated as the amount of interest.

Debentures are convertible into which of the following?

Debenture suspense is shown in the balance sheet as

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%.

Cronic Limited issued 10,000 equity shares of Rs. 10 each payable as Rs. 2.50 on application, Rs. 3 on allotment, Rs. 2 on first call, and the balance of Rs. 2.50 on second and final call. All the shares were fully subscribed and paid except by a shareholder having 100 shares who could not pay for second and final call. Call in Arrears A/c will be debited with-

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:

Convertible debentures cannot be issued at a discount if:

Choose the wrong statements about company- (A) A company is an artificial person. (B) The company's shares are generally transferable. (C) Shareholders of a company are liable for the acts of the company (D) Every member of a company is entitled to take part in its management. Choose the correct answer from the options given below: 1. (B) and (D) only 2. (A), (B) and (D) only 3. (B), (C) and (D) only 4. (C) and (D) only

Choose the correct statement:-

Choose the correct statement :-

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

Calls in arrears are shown in the balance sheet as.

Blue Prints Ltd., purchased building worth Rs.1,50,000, machinery worth Rs.1,40,000 and furniture worth Rs.10,000 from XYZ Co., and took over its liabilities of Rs. 20,000 for a purchase consideration of Rs. 3,15,000. Blue Prints Ltd., paid the purchase consideration by issuing 12% debentures of Rs.100 each at a premium of 5%. Number of debentures issued are-

Blue Prints Ltd., account will be :

Balance of share forfeiture account is shown in the balance sheet under the item:

Balance of share forfeiture account is shown in the balance sheet under the sub-head-

Balance of share forfeiture account is shown in the balance sheet under which item :

At the time of forfeiture, share capital account is