Company Accounts

Share Capital

Easy

common

Interest on calls in advance is provided at a rate not exceeding ........ as per "Table F":

12%

10%

✅ Correct Option: 1

According to Table F of the Companies Act, when a shareholder pays any amount on shares in advance (before the company actually calls for it), the company may pay interest on such advance payment.

The maximum rate at which this interest can be provided is 12% per annum.

This is a statutory provision to ensure that shareholders who voluntarily pay amounts in advance are compensated reasonably for the early payment, but the compensation is also capped to prevent excessive interest payments by the company.

Correct Option: 1 (12%)

2025: 29 May Shift 2

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

2025: 4 June Shift 2

Preference Shares are defined under section ________ of the Companies Act, 2013.

2025: 24 May Shift 1

According to 'Table F', interest on calls-in-arrears is charged at:

2023: 20 June Shift 2

Identify the ratio in which shares are issued on Pro-rata basis.

2026: 12 May Shift 1

The premium amount collected from issue of shares can be used for the following purposes:

(A) To purchase own shares.

(B) To issue fully paid bonus shares to the extent not exceeding unissued share capital of the company.

(D) To write-off fixed assests from books.

Choose the correct answer from the options given below:

2025: 15 May Shift 1

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

Interest on calls in advance is provided at a rate not exceeding ........ as per "Table F":

Solution

Related questions:

Keyboard Shortcuts

CUET Accountancy Past Year Questions (Topic-Wise)