Company Accounts PYQ — Page 9

A share of Rs.10. Issued at a premium of Rs.3. On which Rs.3 was payable on application and Rs.5 was payable on allotment including premium. A shareholder who had applied for 100 shares was Allotted Only 50 Shares and due to non payment of allotment his shares were forfeited. In this case the amount to be debited to securities premium A/c on forfeiture of these shares are

Convertible debentures cannot be issued at a discount if:

Arrnge the following in proper order: (A) Issued Capital (B) Subscribed and fully paid (C) Subscribed and not fully paid (D) Authorised capital Choose the correct answer from the options given below:

In what condition the amount is shown under the head of 'Subscribed and Fully Paid up Share Capital' in Balance Sheet of a Company-

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:

Arrange the following steps related to the issue of shares in proper sequence. (A) Allotment of Shares (B) Receipt of Applications (C) Issue of Prospectus (D) Share calls Choose the correct answer from the options given below:

Choose the correct statement:-

Under which sub-head in the balance sheet does the balance of share forfeiture account appear?

Debentures can be issued at (A) Par (B) Premium (C) Discount (D) Transaction value Choose the correct answer from the options given below:

Shares can be forfeited:

Choose journal entries in the books of High Light India Ltd on receiving Application money :

Number of debentures issued are :

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?

The debentures which are payable on the expiry of the specific period are

Match List-I with List-II | List-I | List-II | |---|---| | (A) Separate Legal Entity | (I) A company being a legal person can enter into contracts and can enforce the contractual rights against others. | | (B) Perpetual Succession | (II) It can hold and deal with any type of property, It can enter into contracts and even open a bank account in its own name. | | (C) Common Seal | (III) The company being an artificial person created by law continues to exist irrespective of the changes in its membership. | | (D) May Sue or be Sued: | (IV) The company being an artificial person, cannot sign its name by itself. | Choose the correct answer from the options given below: 1. (A) - (II), (B) - (III), (C) - (IV), (D) - (I) 2. (A) - (II), (B) - (III), (C) - (I), (D) - (IV) 3. (A) - (II), (B) - (I), (C) - (IV), (D) - (III) 4. (A) - (III), (B) - (IV), (C) - (I), (D) - (II)

The company has to get minimum subscription within how many days?

Match List-I with List-II | List-I | List-II | |---|---| | (A) Authorised Capital | (I) Capital which is actually issued to the public for subscription including the shares allotted to vendors and the signatories to the company's memorandum. | | (B) Issued Capital | (II) It is that part of the subscribed capital which has been called up on the shares, i.e., what the company has asked the shareholders to pay. | | (C) Subscribed Capital | (III) The amount of share capital which a company is authorised to issue by its Memorandum of Association. | | (D) Called up Capital | (IV) It is that part of the issued capital which has been actually subscribed by the public. | Choose the correct answer from the options given below:

According to Sec 2 (62) of Companies Act, 2013,the maximum amount of paidup share capital of an OPC is:

The rate of interest on calls in arrears as per Table F can not exceed.

Match List-I with List-II | List-I | List-II | |---|---| | (A) Redeemable Debentures | (I) The company does not give any undertaking for the repayment of money borrowed by issuing such debentures | | (B) Convertible Debentures | (II) Which are payable on the expiry of the specific period either in lump sum or in installments during the life time of the company. | | (C) Irredeemable Debentures | (III) Which are convertible into equity shares or in any other security either at the option of the company or the debenture holders. | | (D) Unsecured Debentures | (IV) These do not have a specific charge on the assets of the company. | Choose the correct answer from the options given below:

Part of the subscribed capital which has been called up on the shares, i.e., what the company has asked the shareholders to pay is known as ……….

A company has issued 10% Debentures of Face Value of Rs. 5,00,000 as Collateral Security against Rs. 6,00,000, 12% Bank Loan. What amount of total interest will be paid by company for the whole year:-

The account which is not used in journal entry of the forfeiture of shares is:

Shares can be forfeited :