Company Accounts PYQ — Page 15

The amount received on allotment was

The Balance Sheet of the company will show authorised capital of the company as _______ .

Who from the following regularly attends the office of a company?

As per the Companies Act, 2013, in general, the maximum time gap specified between two annual general meetings of a company is:

The following journal entry is recorded in the books of RST Ltd. on issue of debentures : Bank a/c Dr 18,00,000 Loss on issue of Debentures a/c Dr 6,00,000 To 14% Debentures 20,00,000 To Premium on Redemption of Debentunes 4,00,000 Debentures have been issued at a discount of :

The portion of capital which the company does not issue to the public is known as :

When shares are forfeited, capital account is debited by:

Romi 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. They paid the purchase consideration by issuing 12% debentures of Rs. 100 each at a premium of 5%. What will be the number of debentures issued by Romi Ltd.

When own debentures are cancelled, any profit on cancellation is transferred to:

The Directors of Tivoli Plastics Ltd. resolved that 200 equity shares of Rs. 100 each be Forfeited for non-payment of the second and final call of Rs. 30 per share. Out of these, 150 shares were reissued at Rs. 60 per share as fully paid-up. How much amount will be transferred to Capital Reserve Account?

Correct sequence of issue of shares is - A. Receipt of Application B. Issue of Prospectus C. Letter of Allotment of Shares D. Letter of Regret Choose the correct answer from the options given below:

An issue of shares made by the company to the public in general for subscription is called :

The process of issuing shares to a vendor in exchange of any asset is known as:

The amount of forfeiture left over after reissue will be

After the debentures are redeemed, the balance in the Sinking Fund Account is transferred to:

Uncalled capital that can be called up only in event of winding up of the company is called :

Bajaj Sales Ltd. issues 20,000 equity shares of Rs. 20 each to the public. The amount is payable as, On application Rs. 4 per share On allotment Rs. 4 per share On first call Rs. 6 per share On final call Rs. 6 per share All money has been received on shares. Only one shareholder, who has 200 shares could not pay allotment money and his shares have been forfeited before making first call. Forfeited shares have been re-issued at Rs. 18 fully paid-up. What is the amount of capital reserve?

Loss on issue of Debenture is a _______

Securities premium Reserve can be utilised ___ A. to return excess money received on application B. to write off preliminary expenses C. to issue partly paid bonus shares D. for premium paid on Redemption of Debentures or preference shares E. for buy back of shares Choose the correct answer from the options given below:

When the number of Debentures applied for is more than the number of debentures offered to public, the issue is said to be:

Securities Premium Reserve can be used to: A. Issue new shares to existing shareholders B. Write off Preliminary expenses C. Writing off of Goodwill D. Premium on Redemption of debentures E. Issue fully paid Bonus Shares Choose the correct answer from the options given below:

If a share of Rs. 100 on which Rs. 45 has been paid is forfeited at what minimum price can it be reissued :

Amount of Security Premium Reserve credited at the time of allotment of Shares will be

Identify the statement that is/are not true from the following. (a) Shares can be forfeited for non payment of call money. (b) The profit on forfieted shares is transferred to capital reserve. (c) Balance of share forfeiture account is shown is the balance sheet under reserves and surplus. (d) Application money should be at least 10% of the face value of the share. Choose the correct answer from the options given below :