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CUET Accountancy 2026 PYQs23 May Shift 2. Free, no login required.

Company Accounts

past year questions, CUET Accountancy 2026 23 May Shift 2

Share Capital

past year questions, Company Accounts, CUET Accountancy 2026 23 May Shift 2

Medium

common

The amount of security premium reserve cannot be used for:

Solution

✅ Correct Option: 3

Section 52(2) restricts the use of securities premium to issuing bonus shares, writing off preliminary expenses and share or debenture issue expenses, paying premium on redemption of preference shares or debentures, and buyback. Purchasing fixed assets is not a permitted use.

Related questions:

2025: 13 May Shift 2

Match List-I with List-II

List-IList-II
(A) Reserve Capital(I) That portion of the subscribed capital which has not yet been called up.
(B) Uncalled Capital(II) It is that part of the issued capital which has been actually subscribed by the public.
(C) Paid up Capital(III) A company may reserve a portion of its uncalled capital to be called only in the event of winding up of the company.
(D) Subscribed Capital(IV) It is that portion of the called up capital which has been actually received from the shareholders.

Choose the correct answer from the options given below:

2026: 21 May Shift 1

A holds 300 shares of Rs.10 each on which he has paid Re.1 per share on application. B holds 300 shares of Rs.10 each on which he has paid Re.1 on application and Rs.2 on allotment. C holds 300 shares of Rs.10 each, who has paid Re.1 on applications, Rs.2 on allotment and Rs.3 on first call. They all failed to pay their arrears and the second call of Rs.4 per share as well. All the shares of A, B and C were forfeited and subsequently reissued at Rs.11 per share as fully paid-up. The journal entries for the reissue of shares and transfer to capital reserve would be:

2025: 27 May Shift 1

Which of the following statement is incorrect -

A private company is one which by its articles of association:

  1. Restricts the right to transfer its shares
  2. A private company must have at least 2 persons, except in case of one person company
  3. Its paid up share capital is not more than Rs. 50 Lakhs
  4. Limits the number of its members to 200 (excluding its employees)

2025: 2 June Shift 2

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

2026: 29 May Shift 2

If a Share of Rs. 10 on which Rs. 8 is called-up and Rs. 6 is paid is forfeited. By what amount the Share Capital account will be debited at the time of forfeiture:

2022: 20 Aug Shift 2

Match List I with List II

List IList II
A. Share forfeitureI. Reserve Capital
B. Uncalled CapitalII. Pro-rata allotment
C. Over-subscriptionIII. Capital Reserve
D. Discount on issue of sharesIV. Reissue of shares

Choose the correct answer from the options given below:

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