CUET Accountancy: Company AccountsShare Capital. Free, no login required.

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

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

Which of the following are correct with respect to Rule 3 of the Companies (Incorporation) Rules, 2014 for One Person Company?

A. Only a natural person being an Indian citizen and resident in India can form one person company.

B. It cannot carry out non-banking financial investment activities.

C. Its paid up share capital is not more than Rs. 50 Lakhs.

D. Its average annual turnover of three years does not exceed Rs. 5 Crores.

Choose the correct answer from the options given below:

Arrange the following categories of share capital in the correct sequence to show in the notes to accounts of balance sheet:

A. Authorised Share Capital

B. Subscribed and Fully Paid-Up Capital

C. Issued Capital

D. Subscribed but not fully paid up Capital

Choose the correct answer from the options given below:

The director of Shah Ltd. resolved that 250 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, 180 shares were re-issued at Rs.60 per share. The amount to be transferred to capital reserve account will be:

In share capital, the amount on any call should not exceed ________ of the face value of shares.

Match the LIST-I with LIST-II

Choose the correct answer from the options given below:

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:

Which of the following shares can be issued at discount?

Raghu Ltd. invited applications for 2,50,000 equity shares of Rs. 25 each payable as under: On Application Rs. 5.00 per share, on Allotment Rs. 7.50 per share, on First Call Rs. 7.50 per share; and on Second and Final Call Rs. 5.00 per share. Applications were received for 5,00,000 shares. The directors decided to make a pro-rata allotment to all the applicants and adjust the excess application money towards the amount due on allotment and to refund the amount remaining thereafter. What amount will be adjusted towards sum due on allotment ?

If a company fails to get the minimum subscription of __________ of the issued amount and also fails to return the entire subscription amount within the prescribed time, it shall be liable to pay interest @__________ .

In case a company issued shares of face value Rs 100 in consideration of a building purchased for Rs 10,80,000, at the following issue prices. Match List-I with List-II.

Choose the correct answer from the options given below:

In case of issue of shares, the company has to get minimum subscription within__________ from the date of the issue of the prospectus.

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

X Limited forfeited a share of Rs. 10 on which Rs. 8 is called-up and Rs. 6 is paid and forfeited. By what amount, share capital account will be debited?

Arrange the following in proper sequence, related to issue and forfeiture of shares

(A) Calls in arrears

(B) Shares are re-issued

(C) Call money become due

(D) Shares forfeited for non payment of money

Choose the correct answer from the options given below:

Authorized capital is the amount of share capital a company is authorized to issue by __________ .

Which of the following types of issue of shares is allowed to a company?

(A) Issue of shares of Face Value Rs. 10 at Rs. 11 by Initial Public Offer

(B) Issue of shares of Face Value Rs. 10 at Rs. 10 by Initial Public Offer

(C) Issue of shares of Face Value Rs. 10 at Rs. 9 by Initial Public Offer

(D) Issue of shares of Face Value Rs. 10 at Rs. 9 to its employees

Choose the correct answer from the options given below:

Who has given the following definition of a company?

"A company is a person, artificial, invisible, intangible and existing only in the eyes of law. Being a mere creation of law, it possesses only those properties which the charter of its creation confers upon it, either expressly or as incidental to its very existence".

A company issuing sweat equity shares has to fulfill the following prescribed conditions :

(A) These shares are of the same class of shares already issued.

(B) It is authorized by a special resolution passed by a company.

(C) These shares must not be listed on any recognized stock exchange.

(D) Not less than one year has, at the date of issue, elapsed since the date on which the company had commenced business.

Choose the correct answer from the options given below:

According to _____ of the Companies Act, 2013, an equity share is a share which is not a preference share.

Match List-I with List-II

Choose the correct answer from the options given below:

The equity share capital may be (i) with voting rights; or (ii) with differential rights as to voting, dividend or otherwise in accordance with such rules and subject to such conditions as may be prescribed in the ..................

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

Where there is no articles of association of its own, select the correct provision of Table A of Companies Act.

Accountant of a company provides the following steps regarding issue of shares. Arrange them in proper sequence.

(A) Calls in Arrear

(B) Forfeiture of Shares

(C) Receipt of Share Application Money

(D) Reissue of Shares

Choose the correct answer from the options given below:

Calls in Arrears represent :

(A) The debit balance of allotment or all the calls account.

(B) The credit balance of allotment or all the calls account.

(C) Shareholders failed to pay amount due on allotment or on any of the calls, on due date.

(D) Such amount shall appear as Current Asset.

Choose the correct answer from the options given below:

Abhay, a shareholder, 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 Rs. 100 per share). His shares were forfeited after the second call. Share capital A/c would be debited by:

Find out incorrect statements about Authorised Capital of a company.

(A) It is the amount of share capital which a company is authorised to issue by its Memorandum of Association.

(B) It is the amount of share capital which a company is authorised to issue by its Articles of Association.

(C) It is also called Nominal capital.

(D) It can be increased or decreased as per the procedure decided by the shareholders of a company.

Choose the correct answer from the options given below:

_________ refer to the units into which the total share capital of a company is divided, and _____________includes Bonds and any other securities of a company whether constituting a charge on the assets of the company or not.