CUET UG Accountancy — Company Accounts previous year questions with solutions.
As a general rule, a company cannot ordinarily issue shares at ..................?
Sunena, a shareholder holding 500 shares of Rs. 10 each, did not pay the allotment money of Rs. 4 per share (including a premium of Rs. 2) and the first and final call of Rs. 3. Her shares were forfeited after the first and final call. Choose the correct journal entry for forfeiture of the shares.
Money received in advance from shareholders before it is actually called-up by the directors is :
Arrange Categories of Share Capital into correct order- (A) Subscribed Capital (B) Authorised Capital (C) Issued Capital (D) Called up Capital Choose the correct answer from the options given below:
State which of the following combination of statements are true about the Company- (A) A company is an artificial person. (B) Capital reserves are created from capital profits. (C) Shareholders of a company are liable for the acts of the company. (D) A company's shares are generally transferable. Choose the correct answer from the options given below:
Securities premium can be utilized for (A) Writing of preliminary expenses. (B) Issue of bonus share. (C) Payment of dividends. (D) Buy back of shares. Choose the correct answer from the options given below:
Calls in arrears are shown in the balance sheet as.
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:
A share of Rs.10. Issued at a premium of Rs.3. On which Rs.3 was payable on application and Rs.5 was payable on allotment including premium. A shareholder who had applied for 100 shares was Allotted Only 50 Shares and due to non payment of allotment his shares were forfeited. In this case the amount to be debited to securities premium A/c on forfeiture of these shares are
A share of Rs. 10 on which Rs.8 was called up was forfeited for non-payment of Rs.5. This share can be reissued at a minimum price of Rs.
Choose the correct statement:-
Arrange the following events in proper order. (A) Transfer to capital reserve. (B) Forfeiture of share. (C) Calls in arrears. (D) Re issue of share. Choose the correct answer from the options given below:
Reserve capital is
In the case of under subscription of shares.
Which of the following statements are true with reference to a company? (A) The directors of the company are the owners of the company. (B) A company is an artificial person. (C) A company has its common seal. (D) The liability of the members of the company is limited to the extent of shares held by them Choose the correct answer from the options given below:
Match List-I with List-II | List–I | List–II | | ------------------------ | -------------------------------------------------------------------------------------------------------------------------------------------------- | | (A) Calls in Arrears | (I) Shares are taken back by the company as shareholders failed to pay one or more installments, viz. allotment money and/or call money. | | (B) Calls in Advance | (II) This is a situation where the number of shares applied for is less than the number for which applications have been invited for subscription. | | (C) Forfeiture of Shares | (III) This is the amount which any shareholder fails to pay on allotment or on any of the calls. | | (D) Under Subscription | (IV) Table 'F' of the Companies Act provides for the payment of interest on this call at a rate not exceeding 12% per annum. | Choose the correct answer from the options given below:
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:
Identify the true statement in respect of Reserve Capital :-
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:
R Ltd purchased a building from X Infra for Rs 6,00,000 and the payment is to be made by the issue of shares for Rs 100 each at a premium of 20%. Calculate the number of shares to be issued.
The following are the features of Debentures: (A) The payment of interest is a charge on profits and is to be paid even if there is no profit. (B) The debentures, which are issued for a specified period are repayable on the expiry of that period. (C) If the debentures are generally secured, they carry a fixed or floating charge over the assets of the company. (D) Debentures can not be converted into shares in any case. Choose the correct answer from the options given below:
Issue of 8% debentures is shown under which sub-head in the balance sheet of a company:
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?