CUET Accountancy 2023 29 May Shift 2 PYQs - Free Mock Test (No Login)

Based on the following passage, answer questions from 41 to 45:A Ltd with an Authorised Capital of $\text{Rs. }10,00,000$ is divided into shares of $\text{Rs. }10$ each, issued $50,000$ shares at a premium of $\text{Rs. }2$ per share payable as follows:On Application: $\text{Rs. }3$ per shareOn Allotment: $\text{Rs. }5$ per share (including premium)On First and Final call: Balance amountApplications were received for $60,000$ shares and the directors allotted shares to all on a proportionate (pro-rata) basis. All money was received except the first and final call from Hari who had applied for $1,200$ shares. His shares were forfeited and later half of his forfeited shares were reissued at $\text{Rs. }8$ per share as fully paid up.Question: Identify the total number of shares with which A Ltd is registered.

Based on the following passage, answer questions from 41 to 45:A Ltd with an Authorised Capital of $\text{Rs. }10,00,000$ is divided into shares of $\text{Rs. }10$ each, issued $50,000$ shares at a premium of $\text{Rs. }2$ per share payable as follows:On Application: $\text{Rs. }3$ per shareOn Allotment: $\text{Rs. }5$ per share (including premium)On First and Final call: Balance amountApplications were received for $60,000$ shares and the directors allotted shares to all on a proportionate (pro-rata) basis. All money was received except the first and final call from Hari who had applied for $1,200$ shares. His shares were forfeited and later half of his forfeited shares were reissued at $\text{Rs. }8$ per share as fully paid up.Question: Select the exact net cash amount received on the Share Allotment Account.

Based on the following passage, answer questions from 41 to 45:A Ltd with an Authorised Capital of $\text{Rs. }10,00,000$ is divided into shares of $\text{Rs. }10$ each, issued $50,000$ shares at a premium of $\text{Rs. }2$ per share payable as follows:On Application: $\text{Rs. }3$ per shareOn Allotment: $\text{Rs. }5$ per share (including premium)On First and Final call: Balance amountApplications were received for $60,000$ shares and the directors allotted shares to all on a proportionate (pro-rata) basis. All money was received except the first and final call from Hari who had applied for $1,200$ shares. His shares were forfeited and later half of his forfeited shares were reissued at $\text{Rs. }8$ per share as fully paid up.Question: Select the total gross cash amount received by the bank specifically from the reissue of Hari's shares.

Based on the following passage, answer questions from 41 to 45:A Ltd with an Authorised Capital of $\text{Rs. }10,00,000$ is divided into shares of $\text{Rs. }10$ each, issued $50,000$ shares at a premium of $\text{Rs. }2$ per share payable as follows:On Application: $\text{Rs. }3$ per shareOn Allotment: $\text{Rs. }5$ per share (including premium)On First and Final call: Balance amountApplications were received for $60,000$ shares and the directors allotted shares to all on a proportionate (pro-rata) basis. All money was received except the first and final call from Hari who had applied for $1,200$ shares. His shares were forfeited and later half of his forfeited shares were reissued at $\text{Rs. }8$ per share as fully paid up.Question: Identify the account to which the discount allowed on the reissue of forfeited shares should be debited.

Based on the following passage, answer questions from 41 to 45:A Ltd with an Authorised Capital of $\text{Rs. }10,00,000$ is divided into shares of $\text{Rs. }10$ each, issued $50,000$ shares at a premium of $\text{Rs. }2$ per share payable as follows:On Application: $\text{Rs. }3$ per shareOn Allotment: $\text{Rs. }5$ per share (including premium)On First and Final call: Balance amountApplications were received for $60,000$ shares and the directors allotted shares to all on a proportionate (pro-rata) basis. All money was received except the first and final call from Hari who had applied for $1,200$ shares. His shares were forfeited and later half of his forfeited shares were reissued at $\text{Rs. }8$ per share as fully paid up.Question: The balance, if any, left in the share forfeited account relating strictly to the reissued shares, should be transferred to which account?