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CUET Accountancy 2022 PYQs8 Aug Shift 2. Free, no login required.

Company Accounts

past year questions, CUET Accountancy 2022 8 Aug Shift 2

Share Capital

past year questions, Company Accounts, CUET Accountancy 2022 8 Aug Shift 2

Medium

A company issues a share of Rs. 10 on which Rs. 8 is called-up and a shareholder has not paid the call of Rs. 2. The amount credited to share capital in respect of such shares will be:

Solution

✅ Correct Option: 2

Share Capital Account is credited with the called-up amount. Here the called-up amount is Rs. 8 per share. The unpaid Rs. 2 is shown separately under Calls-in-Arrears and deducted from share capital on the balance sheet. Hence Rs. 8 is credited to share capital.

Related questions:

2022: 20 July Shift 1

Arrange the following steps as per the procedure of issue of shares :

(a) Receipt of applications

(b) Allotment of shares

(c) Reissue of forfeited shares

(d) Issue of prospectus

(e) Forfeiture of shares

Choose the correct answer from the options given below :

2025: 31 May Shift 1

Jindal and Company purchased a machine from High Life Machine Limited for Rs.3,80,000. As per purchase agreement, Rs. 20,000 were paid in cash and balance by issue of shares of Rs.100 each. Find the number of shares issued, if they are issued at par:

2022: 15 July Shift 2

The amount received on allotment was

2025: 30 May Shift 1

Match List-I with List-II

List-IList-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:

2026: 24 May Shift 1

Abhay, a shareholder, failed to pay the money for second and final call of Rs. 20 on 1,000 shares issued to him at Rs. 120 (face value Rs. 100 per share). His shares were forfeited after the second call. Share capital A/c would be debited by:

2025: 29 May Shift 2

The number of shares to be issued to a vendor for consideration other than cash is calculated as follows:

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