CUET UG Accountancy — Company Accounts previous year questions with solutions.
Arrange the following in the correct order:
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:-
What will be the amount of premium on Redemption of Debentures.
Determine the number of Debentures to be issued.
Record journal entry for forfeiture of Rahul's shares.
Balance of Share Forfeiture account is shown in the Balance Sheet under the item:-
The process of receiving minimum subscription of 90% of the entire issue must be completed within ______ days from date of issue of prospectus
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 :
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 :
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 :
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 ?
XYZ Ltd. issued another category of debenture which are perpetual in nature. What type of debentures they are called :
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 ?
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".
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 :
A company can buy its own shares when-
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:
Identify those debentures on which no interest will be paid/provided.
Identify the number of shares with which A ltd is registered.