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CUET Accountancy 2026 PYQs19 May Shift 1. Free, no login required.

Company Accounts

past year questions, CUET Accountancy 2026 19 May Shift 1

Share Capital

past year questions, Company Accounts, CUET Accountancy 2026 19 May Shift 1

Medium

common

Which of the following statements are true in relation to securities premium resreve ?

(A) 'Securities Premium Account' is shown under the title 'Assets' of the company's balance sheet under the head 'Reserves and Surplus'.

(B) Securities Premium Account balance can be used to write-off preliminary expenses of the company;

(C) Securities Premium Account balance can be used to pay premium on the redemption of preference shares or debentures of the company.

(D) Securities Premium Account balance can be used to issue partly paid bonus shares to the extent not exceeding unissued share capital of the company;

Choose the correct answer from the options given below:

Solution

✅ Correct Option: 4

(B) and (C) are permitted uses under Section 52(2). (A) is wrong because securities premium is shown under Reserves and Surplus on the Equity and Liabilities side, not under Assets. (D) is wrong since the balance may be used only for issuing fully paid bonus shares.

Related questions:

2025: 3 June Shift 1

Match List-I with List-II

List–IList–II
(A) Calls in Arrears(I) Shares are taken back by the company as shareholders failed to pay one or more installments, viz. allotment money and/or call money.
(B) Calls in Advance(II) This is a situation where the number of shares applied for is less than the number for which applications have been invited for subscription.
(C) Forfeiture of Shares(III) This is the amount which any shareholder fails to pay on allotment or on any of the calls.
(D) Under Subscription(IV) Table 'F' of the Companies Act provides for the payment of interest on this call at a rate not exceeding 12% per annum.

Choose the correct answer from the options given below:

2026: 20 May Shift 1

200 shares of Rs.100 each issued at a premium of Rs.10 were forfeited for the non-payment of allotment money of Rs.60 per share including premium. The first and final call of Rs.20 per share on these shares were not made. The forfeited shares were reissued at Rs.70 per share as fully paid-up. Find the amount of capital reserve.

2025: 30 May Shift 2

Select the INCORRECT statement from the below given statements:-

2025: 16 May Shift 1

Amount to be credited to Calls-in Arrears account at the time of forfeiture is:

2026: 23 May Shift 2

Amit, a shareholder holding 1,000 shares of Rs. 10 each, did not pay the allotment money of Rs. 4 per share (including a premium of Rs. 2) and the first and final call of Rs. 3. His shares were forfeited after the first and final call. The amount of Share Forfeiture A/c will be:

2022: 8 Aug Shift 2

When shares are forfeited, capital account is debited by:

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CUET Accountancy Past Year Questions (Topic-Wise)