CUET UG Accountancy — Company Accounts previous year questions with solutions.
When a company issues shares at a premium, the company can collect Securities Premium along with the :-
A company purchase its own shares of Rs 5,00,000 from the market. What this process is called ?
On the basis of the number of members, companies can be divided into: (A) Unlimited Company (B) Public Company (C) Private Company (D) One Person Company (OPC) Choose the correct answer from the options given below:
Which of the following statements are correct in relation to the issue of share capital for public subscription? (A) The application money should be at least 5% of the face value of the share. (B) Calls are to be made as per the provisions of the articles of association. (C) Where there is no articles of association of its own, the provisions of Table A will apply. (D) Calls need not be made on a uniform basis on all shares within the same class. Choose the correct answer from the options given below:
In the Journal Entry of forfeiture of shares issued at a premium, the Share Capital Account is :-
Shares can be forfeited:
Under which sub-head in the balance sheet does the balance of share forfeiture account appear?
Identify the sequence of journal entries with regard to transfer of shares application money and allotment of shares: (A) Share Allotment A/c Dr. To Share Capital A/c (B) Share Application A/c Dr. To Share Capital A/c (C) Bank A/c Dr. To Share Allotment A/c (D) Share Application A/c Dr. To Bank A/c Choose the correct answer from the options given below:
The number of shares to be issued to a vendor for consideration other than cash is calculated as follows:
Choose the correct statement :-
When Calls in Advance Account is adjusted _______ is credited and _______ is debited.
Match List-I with List-II | List-I | List-II | |---|---| | (TYPES OF COMPANY..) | (CHARACTERISTICS..) | | (A) unlimited company. | (I) liability arises only in the event of winding up | | (B) one person company | (II) limits the number of members to 200. | | (C) private company | (III) paid up capital is not more than 50 lakhs. | | (D) company limited by guarantee. | (IV) creditors can claim their dues from the members. | Choose the correct answer from the options given below:
After forfeiture of share, the amount transferred to capital reserve is
Which is not a type of Debenture :-
In case of over subscription, the directors may (A). Accept some applications in full and reject excessive applications. (B). They can make pro-rata allotment to all. (C). They can adopt a combination of the above two alternatives. (D). They can make preferential allotment to some applicants.
In a Journal Entry of Forfeiture of Shares, Share Capital Account will be :-
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...
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.
In a Journal Entry of Forfeiture of Shares, Securities Premium Account may be debited, when :-
Which of the following is the correct statement in respect of Forfeited Shares :-
__________ is that portion of the subscribed capital which has not been demanded by the company. The company may collect this amount any time when it needs further funds :-
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:
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:
Suvidha Ltd. purchased machinery worth Rs.1,98,000 from Suppliers Ltd. The payment was made by issue of 12% debentures of Rs.100 each. How many debentures will be issued at a 10% discount?