CUET Accountancy Company Accounts > Share Capital PYQs

Discount allowed on reissue of forfeited shares should be debited to:

When journal entry for forfeiture of shares is recorded in the Company's Accounts Books, the Share Capital Account -

Which of the following is incorrect about the minimum subscription: Minimum subscription is the minimum amount that, in the opinion of directors, must be raised to meet the needs of business operations of the company relating to:

Ashoka Limited Company, which had issued equity shares of Rs.20 each at a premium of Rs. 4 per share, forfeited 1,000 shares for non-payment of final call of Rs.2 per share. 400 of the forfeited shares were reissued at Rs.14 per share out of the remaining shares of 200 shares reissued at Rs.20 per share. Balance of Share Forfeiture Account after reissue of shares will be:

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

Profit on reissue of forfeited shares should be treated as:

The director of Poly Plastic Limited resolved that 200 equity shares of Rs.100 each be forfeited for non-payment of the second and final call of Rs.30 per share. Out of these, 150 shares were re-issued at Rs.60 per share to Mohit. Journal entry for creating capital reserve will be:

The maximum number of members in a private company can be .......

The Profit on reissue of forfeited shares is transferred to:

Shares except ESOP can be issued: (A) at Premium (B) at Par (C) for other than cash Choose the correct answer from the options given below:

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 (including premium) per share. 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. Capital reserve created after reissue will be:

Which of the following is not a feature of a company?

Shares can be forfeited:

Match List-I with List-II | List-I | List-II | |---|---| | (A) Calls in Arrears | (I) This is the case when applications for more shares of a company are received than the number offered to the public for subscription. | | (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) Over Subscription | (III) The amount due that shareholders fail to pay on allotment or on any of the calls. | | (D) Under Subscription | (IV) The amount sometimes received from the shareholders as a part or the whole of the amount of the calls not yet made. | Choose the correct answer from the options given below:

Match List-I with List-II | List-I | List-II | |---|---| | (A) Companies Limited by Shares | (I) When the company's property is not sufficient to pay off its debts, the private property of its members can be used for the purpose. | | (B) Companies Limited by Guarantee | (II) Restricts the right to transfer its shares | | (C) Unlimited Companies | (III) If a member has paid the full amount of the shares, there is no liability on his part whatsoever for the debts of the company. | | (D) Private Company | (IV) The liability of its members is limited to the amount they undertake to contribute in the event of the company being wound up. | Choose the correct answer from the options given below:

What will be the journal entries when a call is due and the amount of the same is received?

There must be an interval of how many months between the making of two calls unless otherwise provided by the articles of association of the company.

When the directors opt to make a proportionate allotment to all applicants, the excess application money received is normally adjusted towards the amount due on allotment. In case, the excess application money received is more than the amount due on allotment of shares, such excess amount may either be:

Identify the type of Share Capital, which is clearly shown in Notes to Accounts, but not included in the total of Notes to Account under SHARE CAPITAL head

The balance of the share forfeiture account is shown in the balance sheet under the item:

The profit on the reissue of forfeited shares is transferred to

Arrange the following in order with respect to the issue of shares (A) Application received (B) Issue of prospectus (C) Forfeiture of shares (D) Allotment of Shares (E) Reissue of forfeited shares Choose the correct answer from the options given below:

Which of the following statements are true with reference to a company? (A) The directors of the company are the owners of the company. (B) A company is an artificial person. (C) A company has its common seal. (D) The liability of the members of the company is limited to the extent of shares held by them Choose the correct answer from the options given below:

Match List-I with List-II | List–I | List–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:

Arrange the following steps in the procedure of share issues in the correct sequence: (A) Receipt of Applications (B) Allotment of Shares (C) Issue of Prospectus (D) Listing on the stock exchange Choose the correct answer from the options given below:

Identify the true statement in respect of Reserve Capital :-

From an accounting point of view, arrange the following share capital of the company in the correct sequence: (A) Subscribed Capital (B) Authorized Capital (C) Called up Capital (D) Issued Capital Choose the correct answer from the options given below:

Nominal share capital is :

Match List-I with List-II | List–I | List–II | | ----------------------- | ----------------------------------------------- | | (A) Authorized capital | (I) Mentioned in Prospectus. | | (B) Issued capital. | (II) Mentioned in Memorandum of Association. | | (C) Subscribed capital. | (III) called up capital–calls in arrears. | | (D) Paid up capital. | (IV) Capital for which application is received. | Choose the correct answer from the options given below:

R Ltd purchased a building from X Infra for Rs 6,00,000 and the payment is to be made by the issue of shares for Rs 100 each at a premium of 20%. Calculate the number of shares to be issued.

Identify which of the following will be shown in Notes to Accounts under SHARE CAPITAL head :-

Amount of discount allowed on the reissue of forfeited shares cannot exceed the amount that has:-

Match **List-I** with **List-II** | List-I | List-II | | :--- | :--- | | (A) For the amount of calls received in advance | (I) Calls in Advance A/c &nbsp; Dr.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; To Particular Call A/c | | (B) Interest on Calls in Advance is due | (II) Sundry Shareholder's A/c &nbsp; Dr.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; To Bank A/c | | (C) The amount of 'Calls in Advance' is adjusted | (III) Bank A/c &nbsp; Dr.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; To Calls in Advance A/c | | (D) Interest on Calls in Advance, For Interest Paid | (IV) Interest on Calls in Advance A/c &nbsp; Dr.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; To Sundry Shareholder's A/c | Choose the **correct** answer from the options given below:

Interest on calls in arrears is charged according to "Table F" at :

Shares can be forfeited :

Calls in arrears are shown in the balance sheet as.

Match List-I with List-II | List-I | List-II | |---|---| | (A) Authorized capital. | (I) Mentioned in Prospectus. | | (B) Issued capital. | (II) Mentioned In Memorandum Of Association. | | (C) Subscribed capital. | (III) called up capital-calls in arrears. | | (D) Paid up capital. | (IV) Capital for which application is received. | Choose the correct answer from the options given below:

R Ltd purchased a building from X Infra for Rs 6,00,000 and the payment is to be made by the issue of shares for Rs 100 each at a premium of 20%. Calculate the number of shares to be issued.

A share of Rs.10. Issued at a premium of Rs.3. On which Rs.3 was payable on application and Rs.5 was payable on allotment including premium. A shareholder who had applied for 100 shares was Allotted Only 50 Shares and due to non payment of allotment his shares were forfeited. In this case the amount to be debited to securities premium A/c on forfeiture of these shares are

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

A share of Rs. 10 on which Rs.8 was called up was forfeited for non-payment of Rs.5. This share can be reissued at a minimum price of Rs.

Arrange the following events in proper order. (A) Transfer to capital reserve. (B) Forfeiture of share. (C) Calls in arrears. (D) Re issue of share. Choose the correct answer from the options given below:

Reserve capital is

Securities premium can be utilized for (A) Writing of preliminary expenses. (B) Issue of bonus share. (C) Payment of dividends. (D) Buy back of shares. Choose the correct answer from the options given below:

In the case of under subscription of shares.

Which of the following statements are true with reference to a "company"? (A) The directors of the company are the owners of the company. (B) A company is an artificial person. (C) A company has its common seal. (D) The liability of the members of the company is limited to the extent of shares held by them Choose the correct answer from the options given below:

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

Jindal and Company purchased a machine from High Life Machine Limited for Rs.3,80,000. As per purchase agreement, Rs. 20,000 were paid in cash and balance by issue of shares of Rs.100 each. Find the number of shares issued, if they are issued at par:

Match List-I with List-II | List-I | List-II | |---|---| | (A) Companies Limited by Shares | (I) A company which has only one person as a member. | | (B) Companies Limited by Guarantee | (II) There is no limit on the liability of its members. | | (C) Unlimited Companies | (III) The liability of its members is limited to the amount they undertake to contribute in the event of the company being wound up. | | (D) One Person Company | (IV) The liability of its members is limited to the extent of the nominal value of shares held by them. | Choose the correct answer from the options given below:

The balance of the Share Forfeiture Account will be shown in the Balance Sheet of the Company, under the head of :

As a general rule, a company cannot ordinarily issue shares at ..................?

When journal entry for forfeiture of shares is recorded in the Company's books, the Share Capital Account -

The Profit on reissue of forfeited shares is transferred to :

Sunena, a shareholder holding 500 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. Her shares were forfeited after the first and final call. Choose the correct journal entry for forfeiture of the shares.

Money received in advance from shareholders before it is actually called-up by the directors is :

Arrange Categories of Share Capital into correct order- (A) Subscribed Capital (B) Authorised Capital (C) Issued Capital (D) Called up Capital Choose the correct answer from the options given below:

State which of the following combination of statements are true about the Company- (A) A company is an artificial person. (B) Capital reserves are created from capital profits. (C) Shareholders of a company are liable for the acts of the company. (D) A company's shares are generally transferable. Choose the correct answer from the options given below:

Shares can be forfeited:

Jain and Co. purchased a machine from Young Life Machine Limited for Rs.3,80,000. As per the purchase agreement, Rs. 20,000 were paid in cash and balance by issue of shares of Rs.100 each. How many shares are issued if the shares are issued at 20% premium.

In which order, the following types of share capital are shown in the balance sheet of a company? (A) Subscribed Capital (B) Called up Capital (C) Issued Capital (D) Authorized Capital Choose the correct answer from the options given below:

Discount allowed on re-issue of forfeited shares, will be:-

Which statements among the following are CORRECT? (A) A public company's shares are generally transferable. (B) Share application account is a personal account. (C) The director of a company may be a shareholder. (D) Paid up capital can exceed called up capital. Choose the correct answer from the options given below:

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

The following are the features of a Company: (A) Separate Legal Entity (B) Unlimited Liability (C) Perpetual Succession (D) Common Seal Choose the correct answer from the options given below:

Arrange the important steps in the correct sequence in the procedure of share issue: (A) Receipt of Applications (B) Allotment of Shares (C) Listing of Shares on the Stock Exchange (D) Issue of Prospectus Choose the correct answer from the options given below:

The maximum amount of discount on the re-issue of forfeited shares will be:-

Select the INCORRECT statement from the below given statements:-

A company maintains 'Calls in Arrears' Account. What entry it will be passed on receiving first call money provided whole amount due in it is not received:-

What is the nominal share capital?

Which of the following is the correct statement in respect of Forfeited Shares :-

__________ is that portion of the subscribed capital which has not been demanded by the company. The company may collect this amount any time when it needs further funds :-

Match List-I with List-II | List-I | List-II | |---|---| | (A)The maximum amount of share capital which a company is authorized to issue is known as : | (I) Capital reserve | | (B) Shares can be forfeited for: | (II) Share capital | | (C) The profit on the reissue of forfeited shares is transferred to : | (III) Nominal share capital | | (D) Balance of share forfeiture account is shown in the balance sheet under the item : | (IV) Non-payment of call money | Choose the correct answer from the options given below:

Match List-I with List-II | List-I | List-II | |---|---| | (A) Under Subscription | (I) Issue of Shares at an amount more than the nominal or par value of shares. | | (B) Issue of Shares at a Premium | (II) It is a situation where the number of shares applied for is less than the number for which applications have been invited for subscription. | | (C) Over Subscription | (III) The amount so received from the shareholders when shareholders pay a part or the whole of the amount of the calls not yet made. | | (D) Calls in Advance | (IV) when applications for more shares of a company are received than the number offered to the public for subscription. | Choose the correct answer from the options given below:

Which is not a type of Preference Shares :-

Table F of the Companies Act provides for the payment of interest on calls in advance at a rate not exceeding:

Arrange the following in correct sequence : (A) Paid up Capital (B) Subscribed Capital (C) Issued Capital (D) Authorised Capital Choose the correct answer from the options given below:

The maximum amount of discount on the re-issue of forfeited shares will be :-

Which among the following statements is NOT true

Rahul Limited purchased a 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. What will the number of shares to be issued when shares issued at a premium of 20%?

What is the nominal share capital?

Arrange the journal entries with regard to first call of shares in the correct sequence: (A) For Adjustment of Excess Application Money (B) For Amount Due on Allotment (C) For Allotment money received. (D) For Amount Due on call. Choose the correct answer from the options given below:

The balance of the share forfeiture account is shown in the balance sheet under the item :

The number of shares to be issued to a vendor for consideration other than cash is calculated as follows:

Profit on reissue of shares is transferred to

Choose the correct statement :-

When Calls in Advance Account is adjusted _______ is credited and _______ is debited.

Match List-I with List-II | List-I | List-II | |---|---| | (TYPES OF COMPANY..) | (CHARACTERISTICS..) | | (A) unlimited company. | (I) liability arises only in the event of winding up | | (B) one person company | (II) limits the number of members to 200. | | (C) private company | (III) paid up capital is not more than 50 lakhs. | | (D) company limited by guarantee. | (IV) creditors can claim their dues from the members. | Choose the correct answer from the options given below:

After forfeiture of share, the amount transferred to capital reserve is

In case of over subscription, the directors may (A). Accept some applications in full and reject excessive applications. (B). They can make pro-rata allotment to all. (C). They can adopt a combination of the above two alternatives. (D). They can make preferential allotment to some applicants.

In a Journal Entry of Forfeiture of Shares, Share Capital Account will be :-

The account which is not used in journal entry of the forfeiture of shares is:

When there's no Article of Association of its own, the following provision of table A will apply at the time of issue of shares...

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

The rate of interest on calls in arrears as per Table F can not exceed.

A private company is one which. (A) restricts the right to transfer share.. (B) limits the number of members to 200. (C) must have at least 2 persons. (D) inculde a company which is subsidiary of public company. Choose the correct answer from the options given below:

When a company issues shares at a premium, the company can collect Securities Premium along with the :-

A company purchase its own shares of Rs 5,00,000 from the market. What this process is called ?

On the basis of the number of members, companies can be divided into: (A) Unlimited Company (B) Public Company (C) Private Company (D) One Person Company (OPC) Choose the correct answer from the options given below:

Arrange the following events (in relation to the issue of shares) in a logical order. (A) Transfer to capital reserve. (B) Forfeiture of share. (C) Calls in arrears. (D) Re issue of share. Choose the correct answer from the options given below:

Which of the following statements are correct in relation to the issue of share capital for public subscription? (A) The application money should be at least 5% of the face value of the share. (B) Calls are to be made as per the provisions of the articles of association. (C) Where there is no articles of association of its own, the provisions of Table A will apply. (D) Calls need not be made on a uniform basis on all shares within the same class. Choose the correct answer from the options given below:

In the Journal Entry of forfeiture of shares issued at a premium, the Share Capital Account is :-

Shares can be forfeited:

Under which sub-head in the balance sheet does the balance of share forfeiture account appear?

Identify the sequence of journal entries with regard to transfer of shares application money and allotment of shares: (A) Share Allotment A/c Dr. To Share Capital A/c (B) Share Application A/c Dr. To Share Capital A/c (C) Bank A/c Dr. To Share Allotment A/c (D) Share Application A/c Dr. To Bank A/c Choose the correct answer from the options given below:

Match List-I with List-II | List-I | List-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)

Cronic Limited issued 10,000 equity shares of Rs. 10 each payable as Rs. 2.50 on application, Rs. 3 on allotment, Rs. 2 on first call, and the balance of Rs. 2.50 on second and final call. All the shares were fully subscribed and paid except by a shareholder having 100 shares who could not pay for second and final call. Call in Arrears A/c will be debited with-

The balance in the securities premium account can not be used ------------?

Match List-I with List-II | List-I | List-II | |---|---| | (A) Interest on calls in arrears | (I) Preference Shares | | (B) Interest on calls in advance | (II) OPC | | (C) Sec.2(62) of The Companies Act, 2013 defines | (III) 12% | | (D) Sec.43 of The Companies Act, 2013 defines | (IV) 10% | Choose the correct answer from the options given below: 1. (A) - (IV), (B) - (III), (C) - (I), (D) - (II) 2. (A) - (IV), (B) - (III), (C) - (II), (D) - (I) 3. (A) - (II), (B) - (I), (C) - (IV), (D) - (III) 4. (A) - (III), (B) - (IV), (C) - (I), (D) - (II)

Arrange the following in correct order for issue of shares- (A) Share forfeiture (B) Share Application (C) Share Allotment (D) Unpaid Call Choose the correct answer from the options given below: 1. (B), (A), (C), (D) 2. (B), (C), (D), (A) 3. (B), (A), (D), (C) 4. (C), (B), (D), (A)

Balance of share forfeiture account is shown in the balance sheet under the item:

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)

The director of Poly Plastic Limited resolved that 200 equity shares of Rs.100 each be forfeited for non-payment of the second and final call of Rs.30 per share. Out of these, 150 shares were re-issued at Rs.60 per share to Mohit. Profit on reissue of forfeited shares transferred to capital reserve. Amount credited to capital reserve account is-

Choose the wrong statements about company- (A) A company is an artificial person. (B) The company's shares are generally transferable. (C) Shareholders of a company are liable for the acts of the company (D) Every member of a company is entitled to take part in its management. Choose the correct answer from the options given below: 1. (B) and (D) only 2. (A), (B) and (D) only 3. (B), (C) and (D) only 4. (C) and (D) only

Match List-I with List-II | List-I | List-II | |---|---| | (A) Restricts the right to transfer its shares | (I) OPC | | (B) A company which is a subsidiary of a public company | (II) Private Company | | (C) A company which has only one person as a member | (III) Perpetual Succession | | (D) Members may come and go but the company continues | (IV) Public Company | Choose the correct answer from the options given below:

Match List-I with List-II | List-I | List-II | |---|---| | (A) Calls in Arrears | (I) Sometimes shareholders pay a part or the whole of the amount of the calls not yet made. | | (B) Calls in Advance | (II) When any shareholder fails to pay the amount due on allotment or on any of the calls | | (C) Over Subscription | (III) When number of shares applied for is less than the number for which applications have been invited for subscription | | (D) Under Subscription | (IV) When applications for more shares of a company are received than the number offered to the public for subscription | Choose the correct answer from the options given below:

Identify the false statement with regard to a company:

Rs 50,000 were received in advance for second and final call along with first call. The second and final call was due after two months from the first call. Table II provides for interest on calls in advance at the rate not exceeding _____ per annum and interest on calls in advance amounted to Rs ...........

Balance of share forfeiture account is shown in the balance sheet under the sub-head-

Sahil, a share holder, failed to pay the money for second and final call of Rs. 20 on 1,000 shares issued to him at Rs. 120 (face value of Rs. 100 per share). His shares were forfeited after the second and final call. Which is correct about share forfeiture:

The company has to get minimum subscription within how many days?

The Profit on reissue of forfeited shares is transferred to-

According to Sec 2 (62) of Companies Act, 2013,the maximum amount of paidup share capital of an OPC is:

Match List-I with List-II | List-I | List-II | |---|---| | (Book/Theory proposed/Characteristic, etc.) | (Author/Thinker/Name of Theory, etc.) | | (A) Authorised Capital | (I) Only available to creditors at the time of winding up of a company | | (B) Issued Capital | (II) The amount of capital that a company can raise in its life-time | | (C) Subscribed Capital | (III) Capital that is issued to the public for subscription | | (D) Reserve Capital | (IV) May be equal to or less than issued capital | Choose the correct answer from the options given below:

Match List-I with List-II | List-I | List-II | |---|---| | Allotment of Shares | Journal Entry | | (A) For Transfer of Application Money | (I) Share Application A/c Dr. To Bank A/c | | (B) For Money Refunded on Rejected Application | (II) Bank A/c Dr. To Share Allotment A/c | | (C) For Amount Due on Allotment | (III) Share Application A/c Dr. To Share Capital A/c | | (D) For Receipt of Allotment Money | (IV) Share Allotment A/c Dr. To Share Capital A/c | Choose the correct answer from the options given below:

Identify the steps of the procedure of share issue: (A) Allotment of Shares (B) Receipt of Applications (C) Issue of Prospectus (D) Share Call Choose the correct answer from the options given below:

Which of the following statements about share capital is TRUE? (A) A company's shares are generally transferable. (B) Share application account is a personal account. (C) The part of capital which is called up only on winding up of a company is called reserve capital. (D) Paid up capital can exceed called up capital. Choose the correct answer from the options given below:

Equity shareholders are..................of the company:

The period of how many month/months must elapse between two calls.

Arrange the following in the correct sequence: (A) Called-up capital (B) Subscribed capital (C) Issued capital (D) Paid-up capital Choose the correct answer from the options given below:

A share having a face value of Rs.12, on which Rs. 10 is called-up and Rs. 8 is paid, is forfeited. State the amount with which the Share Capital account will be debited

Match List-I with List-II | List-I | List-II | |---|---| | (A) Calls in advance | (I) The maximum number of members is 200. | | (B) Calls in arrears | (II) 12 % | | (C) Private company | (III) 10 % | | (D) Public company | (IV) No limit on the maximum number of members. | Choose the correct answer from the options given below:

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

The balance of the share forfeiture account is shown in the balance sheet under:

The amount of Securities Premium can be used only for the following purposes: (A) To write off preliminary expenses. (B) To make partly paid shares as fully paid up. (C) To issue fully paid bonus shares. (D) Purchase of its own shares. Choose the correct answer from the options given below:

A minimum of ______ days' notice is to be given to the shareholders to pay the amount of any call :-

While issuing shares, the application money should be atleast ______ of face value.

Disclosure of shares (specifying the number of shares held) in a company is required for each shareholder holding _________ shares.

At the time of forfeiture, share capital account is

It is to be noted that 'minimum subscription' of capital cannot be less than ……… of the issued amount according to SEBI Guidelines (Disclosure and Investor Protection)

If a delay occurs beyond 8 days from the date of closure of the subscription list in refunding the amount received due to non-fulfilment of the criteria of minimum subscription, the company shall be liable to pay the amount with interest at the rate of:

There must be an interval of how many months between the making of two calls unless otherwise provided by the articles of association of the company.

Part of the subscribed capital which has been called up on the shares, i.e., what the company has asked the shareholders to pay is known as ……….

Arrange the following steps related to the issue of shares in proper sequence. (A) Allotment of Shares (B) Receipt of Applications (C) Issue of Prospectus (D) Share calls Choose the correct answer from the options given below:

Which company must have at least two members?

Which of the following will be credited for the excess amount received along with allotment money from the shareholders?

Which of the following is incorrect about the minimum subscription: Minimum subscription is the minimum amount that, in the opinion of directors, must be raised to meet the needs of business operations of the company relating to:

In which order, the share capital of the Company is shown on the balance sheet: (A) Authorized Capital (B) Subscribed and fully paid up Capital (C) Issued Capital (D) Subscribed but not fully paid up Choose the correct answer from the options given below:

Gupta Ltd. issued 1,000 equity shares of Rs. 100 each as fully paid-up, to the vendor, in consideration of the purchase of plant and machinery worth Rs. 1,00,000. Which of the following entry will be recorded in the company's journal for it?

Which of the following indicates the other name of 'Nominal Capital'?

Which statements are correct about capital reserve:- (A) It is necessary to create capital reserves out of capital profits, if any. (B) It cannot be used to issue bonus shares. (C) It can be used to write off capital losses or to issue bonus shares any time during the lifetime of the company. (D) It is not shown on the company balance sheet. Choose the correct answer from the options given below:

Which of the following is not a feature of a company ?

As per Table F, the rate of interest provided on calls in advance can't exceed ...........p.a?

Which of the following company, by its articles, restricts the right to transfer its shares ?

What does 'E' stand for in ESOP?

Interest on calls-in-arrears is charged according to 'Table F' at the rate of .......p.a? :

Which company doesn't restricts the right to transfer its shares?

What is the other name of registered capital?

While issuing the share capital for public subscription, the application money should be at least _____ % of the face value of the share.

Arrnge the following in proper order: (A) Issued Capital (B) Subscribed and fully paid (C) Subscribed and not fully paid (D) Authorised capital Choose the correct answer from the options given below:

Balance of share forfeiture account is shown in the balance sheet under which item :

When a company does not have its own articles of association, provisions of which table will apply:

Steel and Company purchased a machine from Safe Machine Limited for Rs. 4,80,000 and took over its liabilities of Rs. 3,00,000. As per the purchase agreement, Rs. 50,000 was paid in cash and balance by the issue of 2000 shares of Rs.100 each. What will be the amount of goodwill/capital reserve?

Arrange following in correct sequence related to issue of shares (A) Letters of allotment, and letters of regret are sent (B) Prospective investors would make an application along with the application money (C) The company issues the prospectus to the public (D) Sebsequent installment are called Choose the correct answer from the options given below:

It is available only for the creditors on winding up of the company.

High Land India Ltd. invited applications for 50,000 Shares of Rs. 100 each per share. Applications were received for 70,000 shares and pro-rata allotment was made on the application for 50,000 shares. Rohan to whom 600 shares were allotted failed to pay the allotment money and his shares were forfeited immediately after allotment. Of the shares forfeited, 500 share were reissued as fully paid-up for Rs. 80 per share. Order to be followed for recording entries will be (A) Forfeiture of shares (B) Calculation of amount received on allotment (C) Adjustment of excess money received on application towards allotment (D) Reissue of shares Choose the correct answer from the options given below:

Where there is no articles of association of its own, which of the following provisions applies as per Table A.

The amount on any call should not exceed ___ of the face value of shares.

Match List-I with List-II | List-I | List-II | |---|---| | (A) Calls in Advance A/c Dr. To Particular Call A/c | (I) For Interest due on Calls in Advance | | (B) Interest on Calls in Advance A/c Dr. To Sundry Shareholder's A/c | (II) For Interest Paid on Calls in Advance | | (C) Sundry Shareholder's A/c Dr. To Bank A/c | (III) Calls in advance adjusted with the call money due | | (D) Bank A/c Dr. To Calls in Arrears A/c To Interest on Calls in Arrears A/c | (IV) Calls in arrears received with interest | Choose the correct answer from the options given below:

Money received against share warrants' is to be disclosed as a separate item under which head/sub-head

Zomato Ltd. decided to offer 10% of its issued capital to its employees at a price lower than its market value. The scheme adopted by Zomato Ltd. is

If the premium amount has not been received, in respect of the shares forfeited, the Securities Premium Reserve Account

While issuing the share capital for public subscription where there is no articles of association of its own, the following provisions of Table A will apply: (A) A period of one month must elapse between two calls. (B) The amount of call should not exceed 25% of the face value of the share. (C) A minimum of 7 days' notice is given to the shareholders to pay the amount. (D) Calls must be made on a uniform basis on all shares within the same class. Choose the correct answer from the options given below:

The director of Priya polymer Limited resolved that 200 equity shares of Rs. 100 each be forfeited for non-payment of the second and final call of Rs. 30 per share. Out of these, 150 shares were re-issued at Rs. 60 per share to Monit. The amount of capital reserve will be:

The important steps in the procedure of share issue are : (A) The company issues the prospectus to the public. (B) The company has to get minimum subscription within 120 days from the date of the issue of the prospectus. (C) The prospective investors intending to subscribe the share capital of the company would make an application along with the application money. (D) Letters of allotment are sent to those whom the shares have been alloted, and letters of regret to those to whom no allotment has been made. Choose the correct sequence of steps from the options given below:

Minimum subscription is the minimum amount that, in the opinion of directors, must be raised to meet the needs of business operations of the company relating to: (A) The price of any property purchased, or to be purchased, which has to be met wholly or partly out of the proceeds of issue; (B) Preliminary expenses payable by the company and any commission payable in connection with the issue of shares; (C) Working capital; (D) Any other expenditure required for the usual conduct of business operations Choose the correct answer from the options given below:

Securities Premium Account can be used only for the following purposes: (A) To issue partly paid bonus shares to the extent not exceeding unissued share capital of the company; (B). Buy back of own shares. (C). To write-off the expenses of, or commission paid, or discount allowed on any securities of the company; (D). To pay premium on the redemption of preference shares or debentures of the company. Choose the correct answer from the options given below:

The Profit on reissue of forfeited shares is transferred to :

Hari, the holder of 1200 shares paid the amount due on first call @ Rs 2/- per share along with second and final call which became due after 1 month from the due date of first call. What interest will be charged from Hari on calls in arrears:

Match List-I with List-II | List-I | List-II | |---|---| | (A) Authorised Capital | (i) It is that part of the subscribed capital which has been called up on the shares. | | (B) Issued Capital | (ii) It is that part of the issued capital which has been actually subscribed by the public. | | (C) Subscribed Capital | (III) It is that part of the authorised capital which is actually issued to the public for subscription. | | (D) Called up Capital | (IV) The amount of share capital which a company is authorised to issue by its Memorandum of Association | Choose the correct answer from the options given below:

Match List-I with List-II | List-I | List-II | |---|---| | (A) For Transfer of Application Money | (I) Share Allotment A/c Dr. To Share Capital A/c | | (B) For Money Refunded on Rejected Application | (II) Share Application A/c Dr. To Share Capital A/c | | (C) For Amount Due on Allotment | (III) Share Application A/c Dr. To Bank A/c | | (D) For Receipt of Allotment Money | (IV) Bank A/c Dr. To Share Allotment A/c | Choose the correct answer from the options given below:

Correct steps in the procedure of issue of shares are- (A) Allotment of Shares (B) Calls in Arrears (C) Issue of Prospectus (D) Receipt of Applications Choose the correct answer from the options given below:

Which of the following is not a feature of a Company:

Which of the following is called Registered capital of a company?

Jain and Co. purchased a machine from Young Life Machine Limited for Rs. 3,80,000. As per the purchase agreement, Rs. 20,000 were paid in cash and balance by issue of shares of Rs. 100 each. How many shares are issued if the shares are issued at 20% premium.

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: