Company Accounts PYQ — Page 16

Amalgamation is a form of:

Identify the correct sequence of steps in the process of Issue of Shares: A. Making allotment of shares B. Issue of Prospectus C. Forfeiture of shares D. Receiving applications for shares E. Making calls Choose the correct answer from the options given below:

Premium on issue of shares can be used for:

Security Premium Reserve can be used by Hero Ltd. for

MNO Ltd. forfeited 1,000 shares of Rs. 10 each on which shareholders had paid only application money of Rs. 3 per share. Out of these, 400 equity shares were reissued as fully paid for Rs. 9 per share. The gain on reissue of shares transferred to Capital reserve is :

The amount to be adjusted with the call of allotment will be :

A company has to redeem redeemable preference shares of the value of Rs. 1,00,000 at a premium of 10% for which the company has issued 5,000 equity shares of Rs. 10 each at a premium of 20%. The amount to be transferred to capital redemption reserve account would be:

What are different types of debentures from the view point of registration A. Convertible B. Bearer C. Redeemable D. Secured E. Registered Choose the correct answer from the options given below:

Amount to be returned to the applicants due to non-allotment of shares will be :

Amount of Securities Premium Reserve to be debited at the time of forfeiture of shares will be

Amount transferred to Capital Reserve will be

All of them are shown under the sub-heading 'Reserve and Surplus' except :

When debentures are issued at premium with the term of redeeming them at par. The amount of premium received at the time of issue will be:

X Ltd. purchased assets from Y Ltd. for Rs.98,10,000. X Ltd. issued 12% Debentures of Rs.100 each at 10% discount against the payment. The number of debentures issued to Y Ltd. is:

Blue Prints Ltd. purchased a 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. Calculate the Goodwill/Capital Reserve to be recorded by Blue Print Ltd.

Calculate the amount of yearly interest payable on 9% debentures (10,000 debentures of Rs. 100) issued as collateral security.

As per the Companies Act, 1956, a company shall hold the first meeting of board of directors within how many days of the date of its incorporation?

Identify the methods of Redemption of Debenture from the following. (A) By conversion into shares or new debenture (B) Purchase in open market (C) Sinking fund (D) Payment in instalments (E) Payment in lump-sum Choose the correct answer from the options given below :

Securities Premium Reserve as per section 52(2) of the companies Act 2013 can be used : (A) To write-off preliminary expenses of the company (B) To issue fully paid bonus shares to the extent not exceeding unissued share capital of the company (C) To pay premium on the redemption of preference shares or debentures (D) To write off discount allowed on the goods sold on credit Choose the correct answer from the options given below :

The directors of a company forfeited 400 equity shares of Rs. 10 each fully called up on which Rs. 1,600 had been paid. All the forfeited shares were reissued upon payment of Rs. 3,000. Calculate the amount transferred to Capital Reserve

In order to raise money by issuing the shares in the market the company must get applications for at least ____.

Discount on Issue of Debentures A. Is not a capital gain B. Can be written off in any year C. Can be written off from securities premium Reserve D. Can be written off from General Reserve Choose the correct answer from the options given below:

From Coupon Rate Point of view, Debentures are classified into:

The amount received on First and Final call is