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CUET Accountancy 2025 PYQs14 May Shift 1. Free, no login required.

Company Accounts

past year questions, CUET Accountancy 2025 14 May Shift 1

Share Capital

past year questions, Company Accounts, CUET Accountancy 2025 14 May Shift 1

Easy

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:

Solution

✅ Correct Option: 3

When a shareholder fails to pay a call amount on the due date, it becomes calls in arrears. The company can charge interest on such unpaid amounts.

According to Table F of the Companies Act (which provides model articles of association), the interest rate charged on calls in arrears is 10% per annum.

In this case, the company failed to receive Rs 2,00,000 on First and Final Call. As per Table F provisions, interest will be charged at 10% p.a. on this unpaid amount from the due date until actual payment is received.

The journal entry for recording such interest would be:

Calls in Arrears Interest A/c Dr.

To Interest on Calls in Arrears A/c

The interest amount would be calculated as: Rs 2,00,000 × 10% × (Period in months/12)

Correct Option: 3 (10% p.a.)

Related questions:

2022: 23 Aug Shift 2

Amount to be returned to the applicants due to non-allotment of shares will be :

2025: 14 May Shift 1

Rahul Limited purchased building from Handa Limited for Rs.5,40,000 and the payment is to be made by the issue of shares of Rs.100 each. The number of shares to be issued at premium of 20% is:

2022: 8 Aug Shift 2

Bajaj Sales Ltd. issues 20,000 equity shares of Rs. 20 each to the public. The amount is payable as,

On application Rs. 4 per share

On allotment Rs. 4 per share

On first call Rs. 6 per share

On final call Rs. 6 per share

All money has been received on shares. Only one shareholder, who has 200 shares could not pay allotment money and his shares have been forfeited before making first call. Forfeited shares have been re-issued at Rs. 18 fully paid-up. What is the amount of capital reserve?

2022: 15 July Shift 2

The amount transferred to Capital Reserve would be

2025: 27 May Shift 1

Match List-I with List-II

List-IList-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)

2025: 30 May Shift 2

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

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