Company Accounts PYQ — Page 5

Match List-I with List-II | List-I | List-II | |---|---| | (A) Under Subscription | (I) Issue of Shares at an amount more than the nominal or par value of shares. | | (B) Issue of Shares at a Premium | (II) It is a situation where the number of shares applied for is less than the number for which applications have been invited for subscription. | | (C) Over Subscription | (III) The amount so received from the shareholders when shareholders pay a part or the whole of the amount of the calls not yet made. | | (D) Calls in Advance | (IV) when applications for more shares of a company are received than the number offered to the public for subscription. | Choose the correct answer from the options given below:

Match List-I with List-II | List-I | List-II | |---|---| | (A)The maximum amount of share capital which a company is authorized to issue is known as : | (I) Capital reserve | | (B) Shares can be forfeited for: | (II) Share capital | | (C) The profit on the reissue of forfeited shares is transferred to : | (III) Nominal share capital | | (D) Balance of share forfeiture account is shown in the balance sheet under the item : | (IV) Non-payment of call money | Choose the correct answer from the options given below:

Which of the following is the correct statement in respect of Forfeited Shares :-

In a Journal Entry of Forfeiture of Shares, Securities Premium Account may be debited, when :-

A company failed to receive Rs 2,00,000 on First and final Call. Interest on calls in arrears is charged according to 'Table F' at:

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.

When there's no Article of Association of its own, the following provision of table A will apply at the time of issue of shares...

After forfeiture of share, the amount transferred to capital reserve is

In a Journal Entry of Forfeiture of Shares, Share Capital Account will be :-

Arrange the following in correct order for issue of shares- (A) Share forfeiture (B) Share Application (C) Share Allotment (D) Unpaid Call Choose the correct answer from the options given below: 1. (B), (A), (C), (D) 2. (B), (C), (D), (A) 3. (B), (A), (D), (C) 4. (C), (B), (D), (A)

In which order, the share capital of the Company is shown on the balance sheet: (A) Authorized Capital (B) Subscribed and fully paid up Capital (C) Issued Capital (D) Subscribed but not fully paid up Choose the correct answer from the options given below:

Select the TRUE statement related to the issue/re-issue of equity shares.

What does 'E' stand for in ESOP?

Blue Prints Ltd., account will be :

If a delay occurs beyond 8 days from the date of closure of the subscription list in refunding the amount received due to non-fulfilment of the criteria of minimum subscription, the company shall be liable to pay the amount with interest at the rate of:

A debenture which is transferable merely by delivery is:

What is the amount of Profit on reissue of Forfeited Shares Accounts transferred to capital reserve?

On Forfeiture of 500 shares for non-payment of call money, what amount will be credited to Shares Forfeiture Account?

Match List-I with List-II | List-I | List-II | |---|---| | (A) Companies Limited by Shares | (I) A company which has only one person as a member. | | (B) Companies Limited by Guarantee | (II) There is no limit on the liability of its members. | | (C) Unlimited Companies | (III) The liability of its members is limited to the amount they undertake to contribute in the event of the company being wound up. | | (D) One Person Company | (IV) The liability of its members is limited to the extent of the nominal value of shares held by them. | Choose the correct answer from the options given below:

Amount to be credited to Calls-in Arrears account at the time of forfeiture is:

The following are the features of Debenture: (A) Debentures can be converted into shares if the terms of issue are so provided, and in that case these are known as convertible debentures. (B) Debentures are generally secured and carry a fixed or floating charge over the assets of the company. (C) The rate of interest on debentures may vary from year to year depending upon the profits of the company. (D) The debentures are issued for a specified period and repayable on the expiry of that period. Choose the correct answer from the options given below:

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:

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

Match List-I with List-II | List-I | List-II | |---|---| | (A) Calls in advance | (I) The maximum number of members is 200. | | (B) Calls in arrears | (II) 12 % | | (C) Private company | (III) 10 % | | (D) Public company | (IV) No limit on the maximum number of members. | Choose the correct answer from the options given below: