CUET Accountancy Company Accounts > Share Capital PYQs

Discount on issue of shares account.

Loss on issue of shares account.

Share Forfeiture Account.

Premium on issue of shares account.

Will be debited by the issue price of the shares forfeited.

Will be debited by the face value of the shares forfeited.

Will be debited by the called up value of the shares forfeited.

Will be credited by the issue price of the shares forfeited.

preliminary expenses payable by the company and any commission payable in connection with the issue of shares

working capital

personal needs of shareholders

any other expenditure required for the usual conduct of business operations.

Rs. 4,800

Rs. 8,400

Rs. 7,200

Zero

41

42

43

44

Revenue profit

Capital profit

Income

Operating profit

Shares Forfeiture A/c Dr. 3,500

To Capital Reserve A/c 3,500

Shares Forfeiture A/c Dr. 6,500

To Capital Reserve A/c 6,500

Shares Forfeiture A/c Dr. 4,500

To Capital Reserve A/c 4,500

Shares Forfeiture A/c Dr. 10,500

To Capital Reserve A/c 10,500

100

200

300

unlimited

General Reserve

Capital Redemption Reserve

Capital Reserve

Reserve Capital

(A) and (B) only

(A) and (C) only

(A), (B), and (C)

(C) only

Rs. 60,000

Rs. 30,000

Zero

Rs. 15,000

Separate legal entity

Common seal

Limited Liability

Unlimited Liability

for failure to repay the loan to the bank

for failure to attend meetings

for non-payment of call money

for issue of shares for consideration other than cash

(A) - (I), (B) - (II), (C) - (III), (D) - (IV)

(A) - (I), (B) - (III), (C) - (II), (D) - (IV)

(A) - (I), (B) - (II), (C) - (IV), (D) - (III)

(A) - (III), (B) - (IV), (C) - (I), (D) - (II)

(A) - (I), (B) - (II), (C) - (III), (D) - (IV)

(A) - (II), (B) - (I), (C) - (III), (D) - (IV)

(A) - (I), (B) - (II), (C) - (IV), (D) - (III)

(A) - (III), (B) - (IV), (C) - (I), (D) - (II)

1. For Call Amount Due

Share Call A/c Dr.

 To Share Call A/c

(Call money due on __Shares @ Rs. ___ per share)

2. For Receipt of Call Amount

Bank A/c Dr.

 To Share Capital A/c

(Call money received)

1. For Call Amount Due

Share Call A/c Dr.

 To Share Capital A/c

(Call money due on __Shares @ Rs. ___ per share)

2. For Receipt of Call Amount

Bank A/c Dr.

 To Share Call A/c

(Call money received)

1. For Call Amount Due

Bank A/c Dr.

 To Share Capital A/c

(Call money due on __Shares @ Rs. ___ per share)

2. For Receipt of Call Amount

Share Call A/c Dr.

 To Share Call A/c

(Call money received)

1. For Call Amount Due

Share Capital A/c Dr.

 To Share Call A/c

(Call money received)

2. For Receipt of Call Amount

Bank A/c Dr.

 To Share Call A/c

(Call money due on __Shares @ Rs. ___ per share)

15 days

Atleast three months

Atleast two months

Atleast one month

Adjusted towards the amount due on the allotment of shares allotted

Refunded or credited to calls in advance.

Refunded money in full

Refunded or credited to Calls in Arrears

Subscribed and fully paid up Share Capital

Subscribed but not fully paid up Share Capital

Issued Share Capital and Un-issued Share Capital

Registered Share Capital and Issued Share Capital

Current liabilities and provisions

Reserves and surpluses

Share capital

Unsecured loan

General Reserve

Capital redemption reserve

Capital reserve

Preference shares

(A), (B), (C), (D), (E)

(A), (C), (B), (E), (D)

(B), (A), (D), (C), (E)

(C), (E), (B), (D), (A)

(A), (B) and (D) only

(A), (B) and (C) only

(A), (B), (C) and (D)

(B), (C) and (D) only

(A) - (I), (B) - (II), (C) - (III), (D) - (IV)

(A) - (II), (B) - (I), (C) - (III), (D) - (IV)

(A) - (I), (B) - (II), (C) - (IV), (D) - (III)

(A) - (III), (B) - (IV), (C) - (I), (D) - (II)

(A), (B), (C), (D)

(C), (A), (B), (D)

(B), (A), (D), (C)

(C), (B), (D), (A)

It is a portion of uncalled share capital and can be called only in the event of winding up of a company.

It is a portion of uncalled share capital and can be called at any time during the lifetime of a company.

It is a portion of un-paid share capital and can be called only in the event of winding up of a company.

It is a portion of un-subscribed share capital and can be called at any time during the lifetime of a company.

(A), (B), (C), (D)

(B), (D), (A), (C)

(B), (A), (D), (C)

(C), (B), (D), (A)

That part of the authorised capital which is issued by the company.

The amount of capital which is actually applied for by the prospective shareholders.

The maximum amount of share capital which a company is authorized to issue.

The amount actually paid by the shareholders.

(A) - (I), (B) - (II), (C) - (III), (D) - (IV)

(A) - (I), (B) - (III), (C) - (II), (D) - (IV)

(A) - (II), (B) - (I), (C) - (IV), (D) - (III)

(A) - (III), (B) - (IV), (C) - (I), (D) - (II)

5000 shares

6000 shares

10000 shares

600000 shares

Authorised Share Capital and Un-issued Share Capital.

Un-issued Share Capital and Un-called up Share Capital.

Authorised Share Capital and Un-called up Share Capital.

Authorized Share Capital and Issued Share Capital.

not been called-up on forfeited shares at the time of initial issue.

been called-up on forfeited shares at the time of initial issue.

not been received on forfeited shares at the time of initial issue.

been received on forfeited shares at the time of initial issue.

(A) - (I), (B) - (II), (C) - (III), (D) - (IV)

(A) - (II), (B) - (I), (C) - (III), (D) - (IV)

(A) - (I), (B) - (II), (C) - (IV), (D) - (III)

(A) - (III), (B) - (IV), (C) - (I), (D) - (II)

10%

12%

14.5%

11%

for non-payment of call money

for failure to attend meetings

for failure to repay the loan to the bank

for which shares are pledged as a security

Current assets.

A deduction from the paid up capital.

Current liability.

Reserve and surplus.

(A) - (I), (B) - (II), (C) - (III), (D) - (IV)

(A) - (I), (B) - (III), (C) - (II), (D) - (IV)

(A) - (II), (B) - (I), (C) - (IV), (D) - (III)

(A) - (III), (B) - (IV), (C) - (I), (D) - (II)

5000 shares

6000 shares

10000 shares

60000 shares

Rs.250.

Rs.50.

Rs.100.

Rs.150.

If shares are fully called up and there are Calls in Arrears

If shares are fully called up and there are no Calls in Arrears

If shares are partly called up and there are no Calls in Arrears

If shares are partly called up and there are Calls in Arrears

10

8

11

7

(A), (B), (C), (D)

(A), (B), (D), (C)

(B), (A), (D), (C)

(C), (B), (D), (A)

A kind of capital reseve.

Part of called up capital.

Part of the subscribed capital decided not to be called up except in the event of winding up.

Part of capital not yet issued.

(A), (B) and (D) only

(A), (B) and (C) only

(A), (B), (C) and (D)

(B), (C) and (D) only

Shares are allotted only when the company receives the subscription and application money on minimum subscription as stated in the prospectus.

Shares are allotted to all applicants without considering anything.

All the issued shares are allotted to all applicants proportionally.

The Issue Is Closed And Application Money Is Refunded.

(A), (B) and (D) only

(A), (B) and (C) only

(A), (B), (C) and (D)

(B), (C) and (D) only

12%

6%

10%

8%

3000 Shares

3500 Shares

3600 Shares

3200 Shares

(A) - (II), (B) - (I), (C) - (III), (D) - (IV)

(A) - (IV), (B) - (III), (C) - (II), (D) - (I)

(A) - (II), (B) - (I), (C) - (IV), (D) - (III)

(A) - (III), (B) - (IV), (C) - (I), (D) - (II)

Share Capital

Reserve and Surplus

Non-current Liabilities

Current Liabilities

Par

Premium

Discount

Amount higher then its face value.

Will be debited by the issue price of the shares forfeited.

Will be debited by the face value of the shares forfeited.

Will be debited by the called up value of the shares forfeited.

Will be credited by the issue price of the shares forfeited.

General reserve

Capital redemption reserve

Capital reserve

Reserve capital

Share Capital A/c Dr. 5, 000

Securities Premium A/c Dr. 1,000

To Share Allotment A/c 2,000

To Share first and final Call A/c 2,500

To Share Forfeiture A/c 1,500

Share Capital Reserve A/c Dr. 5,000

Securities Premium A/c Dr. 1,000

To Share Allotment A/c 4,000

To Share Forfeiture A/c 2,000

Share Capital A/c Dr. 5, 000

Securities Premium A/c Dr. 1,000

To Share Allotment A/c 2,000

To Share Forfeiture A/c 4,000

Share Capital A/c Dr. 5, 000

Securities Premium A/c Dr. 1,000

To Share Allotment A/c 2,000

To Share first and final Call A/c 1,500

To Share Forfeiture A/c 2,500

Debited to calls in advance account

Credited to calls in advance account

Debited to calls account

Credited to calls account

(B), (C), (A), (D)

(B), (D), (A), (C)

(B), (A), (D), (C)

(C), (B), (D), (A)

(A), (B) and (D) only

(A), (B) and (C) only

(A), (B), (C) and (D)

(B), (C) and (D) only

for non-payment of call money

for failure to attend meetings

for failure to repay the loan to the bank

for which shares are pledged as a security

3600

3200

3000

3800

(A), (B), (C), (D)

(D), (C), (A), (B)

(B), (A), (D), (C)

(C), (B), (D), (A)

Debited to the 'Discount on issue of Share Account'

Credited to the 'Share Forfeiture Account'

Credited to the 'Discount on issue of Share Account'

Debited to the 'Share Forfeiture Account'

(A), (B) and (C) only

(A), (B) and (D) only

(A), (B), (C) and (D)

(B), (C) and (D) only

Equity Shares cannot be issued at Discount.

Equity Shares can be re-issued at Discount.

Equity Shares cannot be issued at premium.

Equity Shares cannot be re-issued at premium

(A), (B) and (D) only

(A), (C) and (D) only

(A), (B), (C) and (D)

(B), (C) and (D) only

(A), (B), (C), (D)

(A), (B), (D), (C)

(D), (A), (B), (C)

(C), (B), (D), (A)

The amount already called up at the time of forfeiture.

The amount of calls in arrear at the time of forfeiture.

The amount of calls in advance at the time of forfeiture.

The amount already received at the time of forfeiture.

Nominal Share Capital is a part of Authorized Share Capital

Un-issued Share Capital is a part of Authorized Share Capital

Un-Subscribed Share Capital is a part of Issued Share Capital

Called up Share Capital is a part of Subscribed Share Capital

Bank A/c Dr.

Calls in Arrears A/c Dr.

To Share First Call A/c

Bank A/c Dr.

To Calls in Arrears A/c

Calls in Arrears A/c Dr.

To Share First Call A/c

Share First Call A/c Dr.

To Calls in Arrears A/c

The amount actually paid by the shareholders

The maximum amount of share capital which a company is authorised to issue.

The amount of capital which is actually applied for by the prospective shareholders.

That part of the authorized capital which is issued by the company.

These shares can only be re-issued at a premium.

These shares can only be re-issued at par.

These shares can only be re-issued at a discount.

These shares can either be cancelled or can be re-issued.

Un-issued Share Capital

Un-subscribed Share Capital

Un-paid Share Capital

Uncalled Share Capital

(A) - (I), (B) - (II), (C) - (III), (D) - (IV)

(A) - (III), (B) - (I), (C) - (III), (D) - (IV)

(A) - (I), (B) - (II), (C) - (IV), (D) - (III)

(A) - (III), (B) - (IV), (C) - (I), (D) - (II)

(A) - (I), (B) - (II), (C) - (III), (D) - (IV)

(A) - (II), (B) - (I), (C) - (IV), (D) - (III)

(A) - (I), (B) - (II), (C) - (IV), (D) - (III)

(A) - (III), (B) - (IV), (C) - (I), (D) - (II)

Participating Preference Shares

Cumulative Preference Shares

Irredeemable Preference Shares

Convertible Preference Shares

10% per annum.

12% per annum.

11% per annum.

15% per annum.

(A), (B), (C), (D)

(D), (C), (B), (A)

(B), (A), (D), (C)

(C), (B), (D), (A)

The amount already called up at the time of forfeiture.

The amount of calls in arrear at the time of forfeiture.

The amount of calls in advance at the time of forfeiture.

The amount already received at the time of forfeiture.

Share application account is a personal account.

The director of a company must be a shareholder.

Paid up capital can exceed called up capital.

Capital reserves are created from capital profits.

5,500 shares

5,400 shares

4,400 shares

4,500 shares

The amount actually paid by the shareholders

The maximum amount of share capital which a company is authorised to issue.

The amount of capital which is actually applied for by the prospective shareholders.

That part of the authorized capital which is issued by the company.

(C), (D), (B), (A)

(A), (B), (C), (D)

(B), (A), (D), (C)

(C), (B), (D), (A)

Unsecured loans

Share capital

Reserves and surpluses

Current liabilities and provisions

Amount Payable / Application money

Amount Receivable / Allotment price

Amount Payable / Issue Price

Amount Receivable / Issue Price

Security premium account

Statement of profit and loss

General reserve

Capital reserve

Subscribed Share Capital is shown in Balance Sheet, and included in the total with Authorised share capital of the company.

Subscribed Share Capital is shown in Notes to Accounts, and included in the total of Balance Sheet.

Subscribed Share Capital is shown in Balance Sheet, but not included in the total of Balance Sheet.

Subscribed Share Capital is shown in Notes to Accounts, but not included in the total of Balance Sheet.

Respective call A/c, Calls in Advance A/c

Share Capital A/c, Respective Call A/c

Calls in Advance A/c, Bank A/c

Calls in Advance A/c, Respective Call A/c

(A) - (I), (B) - (II), (C) - (III), (D) - (IV)

(A) - (IV), (B) - (III), (C) - (II), (D) - (I)

(A) - (I), (B) - (II), (C) - (IV), (D) - (III)

(A) - (III), (B) - (IV), (C) - (I), (D) - (II)

Profit on forfeiture plus loss on reissue of forfeited share.

Amount of securities premium debited on forfeiture.

Profit on forfeiture minus loss on reissue of forfeited share,

Balance of amount not yet called.

Only (A)

Only (A), (B) and (C)

Only (A) and (B)

Only (B)

Debited by the issue price of the number of the shares forfeited.

Debited by the face value of the number of the shares forfeited.

Debited by the called up value of the number of the shares forfeited.

Credited by the issue price of the number of the shares forfeited.

Share capital account.

Capital reserve account.

Securities premium account.

Calls in arrears account.

period of 3 months must elapse between two calls

a minimum of 21 days notice is given to the shareholders to pay the amount.

a minimum of 14 days notice is given to the shareholders to pay the amount

the amount of call should be more than 25% of the face value of the share.

Share are issued at premium and calls in arrears include premium.

Share are issued at premium and calls in arrears do not include premium.

Shares are issued at par and calls in arrears include premium.

Share are issued at par and calls in arrears do not include premium.

11%, p.a.

10% p.m.

10% p.a

12% p a.

(A), (B) and (D) only

(A), (B) and (C) only

(A), (B), (C) and (D)

(B), (C) and (D) only

Allotment Money

Call Money

Application Money

Any of these

Re-issue of Shares

Buy-back of Shares

Bonus Issue of Shares

Forfeiture of Shares.

(A), (B) and (D) only

(A), (B) and (C) only

(A), (B), (C) and (D)

(B), (C) and (D) only

(A), (B), (C), (D)

(A), (B), (D), (C)

(B), (A), (D), (C)

(C), (B), (D), (A)

(A), (B) and (C) only

(A), (B) and (D) only

(A), (B), (C) and (D)

(B), (C) and (D) only

Debited with the called up amount (including premium)

Debited with the face value amount (including premium)

Debited with the face value amount (excluding premium)

Debited with the called up amount (excluding premium)

For failure to attend meetings

For failure to repay the loan to the bank

For which shares are pledged as a security

For non-payment of call money

Share capital

Reserves and surpluses

Unsecured loans

Current liabilities and provisions

(A), (B), (C), (D)

(A), (D), (C), (B)

(B), (D), (A), (C)

(C), (B), (D), (A)

(A) - (II), (B) - (III), (C) - (IV), (D) - (I)

(A) - (II), (B) - (III), (C) - (I), (D) - (IV)

(A) - (II), (B) - (I), (C) - (IV), (D) - (III)

(A) - (III), (B) - (IV), (C) - (I), (D) - (II)

Rs 300

Rs 150

Rs 200

Rs 250

To write-off the expenses of preliminary expenses of the company

To issue fully paid bonus shares

To pay off the purchase consideration.

To write off discount on issue of debentures.

(A) - (IV), (B) - (III), (C) - (I), (D) - (II)

(A) - (IV), (B) - (III), (C) - (II), (D) - (I)

(A) - (II), (B) - (I), (C) - (IV), (D) - (III)

(A) - (III), (B) - (IV), (C) - (I), (D) - (II)