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Company Accounts Questions

Practice 393 Company Accounts questions with detailed answers and explanations. Free MCQs, PYQs, and mock test questions for NEET, JEE, GATE, SSC and more.

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Practice by Exam:Accountancy(317)CUET Accountancy(76)

About Company Accounts — practice questions, PYQs & concepts

Company Accounts is a frequently-tested topic on Accountancy, CUET Accountancy. ExamTest.live currently lists 393 Company Accounts questions spanning previous-year papers from 2026 to 2026, each with worked solutions and a step-by-step explanation. Use the filters on this page to focus on a specific exam, difficulty level or year — every answer key is free, no sign-up required.

Company Accounts weight in competitive exams

Across our Company Accounts question bank, the largest sources are Accountancy (317) and CUET Accountancy (76). Click any exam chip above to drill down to that exam-specific question set.

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All Company Accounts Questions(1–100 of 393)

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Q1easymcqAccountancyCUET Accountancy 2023 28 May Shift 12026
0% accuracy
XYZ Ltd. operates in the FMCG sector in the South Indian market. To expand into Northern India, the company raises an additional capital of . It raises by issuing Debentures of each at a discount of , redeemable after years. The remaining funds are raised by issuing perpetual Debentures of of each at a premium. After six years of successful operations, the company takes a loan of from PNB, pledging Debentures of as collateral security. The loan is fully repaid within two years.When issuing the debentures of at a discount, what amount should be debited to the "Discount on Issue of Debentures A/c" if all money is received in a single installment?
Q2easymcqAccountancyCUET Accountancy 2023 28 May Shift 12026
0% accuracy
AB & Co. purchased assets worth from a vendor. The company issued debentures of each at a discount of in full satisfaction of the purchase consideration. Calculate the number of debentures issued to the vendor.
Q3mediummcqAccountancyCUET Accountancy 2023 28 May Shift 12026
0% accuracy
Match List - I with List - II according to SEBI Guidelines and the Companies Act, 2013:
\begin{array}{|l|l|}\hline\textbf{List - I} & \textbf{List - II} \ \hline\text{(A) Application money must be at least ____% of the face value of the share} & \text{(I) } 25% \\text{(B) The amount of a single Call should not exceed ____% of the face value of the share} & \text{(II) } 90% \\text{(C) Minimum subscription cannot be less than ____% of the issued amount under SEBI guidelines} & \text{(III) } 10% \\text{(D) Max interest charged on call-in-arrears under Table F is @ ____% p.a.} & \text{(IV) } 5% \ \hline\end{array}
Choose the correct answer from the options given below:
Q4easymcqAccountancyCUET Accountancy 2023 28 May Shift 12026
0% accuracy
XYZ Ltd. operates in the FMCG sector in the South Indian market. To expand into Northern India, the company raises an additional capital of . It raises by issuing Debentures of each at a discount of , redeemable after years. The remaining funds are raised by issuing perpetual Debentures of of each at a premium. After six years of successful operations, the company takes a loan of from PNB, pledging Debentures of as collateral security. The loan is fully repaid within two years.What are debentures that are perpetual in nature and have no fixed maturity date for repayment called?
Q5easymcqAccountancyCUET Accountancy 2023 28 May Shift 12026
0% accuracy
XYZ Ltd. operates in the FMCG sector in the South Indian market. To expand into Northern India, the company raises an additional capital of . It raises by issuing Debentures of each at a discount of , redeemable after years. The remaining funds are raised by issuing perpetual Debentures of of each at a premium. After six years of successful operations, the company takes a loan of from PNB, pledging Debentures of as collateral security. The loan is fully repaid within two years.How are the debentures (repayable after years) classified based on their redemption terms?
Q6easymcqAccountancyCUET Accountancy 2023 28 May Shift 12026
0% accuracy
Match List - I with List - II.
image
Choose the correct answer from the options given below:
Q7easymcqAccountancyCUET Accountancy 2023 28 May Shift 12026
33% accuracy
Find the correct sequential operational procedure for the public issue of shares by a joint-stock company:(A) Receipt of Applications(B) Issue of prospectus(C) Allotment of Shares(D) Making call money due(E) Receiving Call moneyChoose the correct answer from the options given below:
Q8mediummcqAccountancyCUET Accountancy 2023 28 May Shift 12026
0% accuracy
XYZ Ltd. operates in the FMCG sector in the South Indian market. To expand into Northern India, the company raises an additional capital of . It raises by issuing Debentures of each at a discount of , redeemable after years. The remaining funds are raised by issuing perpetual Debentures of of each at a premium. After six years of successful operations, the company takes a loan of from PNB, pledging Debentures of as collateral security. The loan is fully repaid within two years.The debentures of ( face value) were issued at a premium. The payment terms are on application, on allotment, and on the first and final call. Calculate the total amount credited to the "Securities Premium Account".
Q9easymcqAccountancyCUET Accountancy 2023 28 May Shift 12026
33% accuracy
Under which Sub-head do we show the Securities Premium in the Balance Sheet of a company?
Q10mediummcqAccountancyCUET Accountancy 2023 28 May Shift 12026
0% accuracy
XYZ Ltd. operates in the FMCG sector in the South Indian market. To expand into Northern India, the company raises an additional capital of . It raises by issuing Debentures of each at a discount of , redeemable after years. The remaining funds are raised by issuing perpetual Debentures of of each at a premium. After six years of successful operations, the company takes a loan of from PNB, pledging Debentures of as collateral security. The loan is fully repaid within two years.When a company records the issue of debentures as collateral security using the journal entry method, what amount should be debited to the "Debenture Suspense Account"?
Q11easymcqAccountancyCUET Accountancy 2023 28 May Shift 12026
0% accuracy
Which of the following transactions involve issuing debentures for a consideration other than cash?(A) Issued to a bank as additional/collateral security(B) Issued to a vendor for asset purchase(C) Issued to the general public for subscription(D) Issued to a creditor to settle outstanding dues(E) Issued for cash via public offerChoose the correct answer from the options given below:
Q12easymcqAccountancyCUET Accountancy 2023 28 May Shift 12026
33% accuracy
Match List - I with List - II.
\begin{array}{|l|l|}\hline\textbf{List - I} & \textbf{List - II} \ \hline\text{(A) Over-Subscription} & \text{(I) Minimum amount that must be raised by issue of shares} \\text{(B) Minimum subscription} & \text{(II) Application received is more than shares issued} \\text{(C) Under-Subscription} & \text{(III) Allotment of shares without issue of prospectus} \\text{(D) Private Placement} & \text{(IV) Application received is less than shares issued} \ \hline\end{array}
Choose the correct answer from the options given below:
Q13easymcqAccountancyCUET Accountancy 2022 15 July Shift 22026
0% accuracy
When the number of Debentures applied for is more than the number of debentures offered to the public, the issue is said to be:
Q14easymcqAccountancyCUET Accountancy 2022 15 July Shift 22026
0% accuracy
From Coupon Rate Point of view, Debentures are classified into:
Q15hardmcqAccountancyCUET Accountancy 2022 15 July Shift 22026
0% accuracy
Mona Ltd. issued shares of each at per share (Premium ).Application: Allotment: (including premium of )First & Final Call: Applications were received for shares and pro-rata allotment was made. Mr. Sharma, who applied for shares, failed to pay allotment and call money. Calculate the total net amount received by the company on allotment.
Q16hardmcqAccountancyCUET Accountancy 2022 15 July Shift 22026
0% accuracy
Discount on Issue of Debentures:A. Is not a capital gainB. Can be written off in any yearC. Can be written off from securities premium ReserveD. Can be written off from General ReserveChoose the correct answer from the options given below:
Q17easymcqAccountancyCUET Accountancy 2022 15 July Shift 22026
0% accuracy
Hero Ltd. started a new venture of making casual shirts. The directors decided to issue shares of each at each. The following assets were purchased by the company:A building of lakhsFurniture of lakhsMachinery of lakhsThe company purchased cloth of lakhs and paid wages to the workers. The Directors also decided to buy shares of TATA Ltd. of each and at the end of the year Tata Ltd. paid as dividend.Security Premium Reserve can be used by Hero Ltd. for:
Q18mediummcqAccountancyCUET Accountancy 2022 15 July Shift 22026
0% accuracy
[Context based on Mona Ltd.] Calculate the net amount received on the First and Final Call.
Q19hardmcqAccountancyCUET Accountancy 2022 15 July Shift 22026
0% accuracy
[Context based on Mona Ltd.] Out of the forfeited shares, $150$ shares were reissued at $\text{Rs. } 8$ per share fully paid up, including the whole of Mr. Sharma's shares ($100$ shares). The remaining $50$ shares were from Mr. Verma's forfeited shares (who held $200$ shares and failed to pay call money).Calculate the amount transferred to the Capital Reserve.
Q20hardmcqAccountancyCUET Accountancy 2022 15 July Shift 22026
0% accuracy
[Context based on Mona Ltd.] At the time of forfeiture, the Securities Premium Reserve Account will be debited for how many shares?
Q21hardmcqAccountancyCUET Accountancy 2022 15 July Shift 22026
0% accuracy
[Context based on Mona Ltd.] What is the balance remaining left over in the Share Forfeiture Account after the reissue of $150$ shares?
Q22easymcqAccountancyCUET Accountancy 2022 15 July Shift 22026
0% accuracy
Loss on issue of Debenture is a _______
Q23hardmcqCUET AccountancyCUET Accountancy 16 July Shift 22026
Case Study Information:Moonrise Co. is authorized with a Share Capital of ₹5,00,000. It issued 10,000 equity shares of ₹12 each (Face Value ₹10 + Premium ₹2).The money was payable as:₹4 on Application₹4 on Allotment (including premium of ₹2)₹4 on 1st and final callApplications were received for 12,000 shares and the directors decided to make a pro-rata allotment. Mr. Rashidi, an applicant for 120 shares, failed to pay the allotment and call money. Mr. Shantanu, a holder of 200 shares, failed to pay the call money. All these shares were forfeited. Out of the forfeited shares, 150 shares (including all of Rashidi's shares) were reissued at ₹8 per share.Question: The amount transferred to the Capital Reserve Account will be:
Q24easymcqAccountancyCUET Accountancy 2022 23 Aug Shift 2 PYQs2026
Forfeiture of shares results in the reduction of :
Q25mediummcqAccountancyCUET Accountancy 2022 20 Aug Shift 22026
The Directors of Tivoli Plastics Ltd. resolved that equity shares of Rs. each be Forfeited for non-payment of the second and final call of Rs. per share. Out of these, shares were reissued at Rs. per share as fully paid-up. How much amount will be transferred to Capital Reserve Account?
Q26mediummcqAccountancyCUET Accountancy 2022 8 Aug Shift 22026
When shares are forfeited, capital account is debited by:
Q27mediummcqCUET AccountancyCUET Accountancy 16 July Shift 22026
Case Study Information:Moonrise Co. is authorized with a Share Capital of ₹5,00,000. It issued 10,000 equity shares of ₹12 each (Face Value ₹10 + Premium ₹2).The money was payable as:₹4 on Application₹4 on Allotment (including premium of ₹2)₹4 on 1st and final callApplications were received for 12,000 shares and the directors decided to make a pro-rata allotment. Mr. Rashidi, an applicant for 120 shares, failed to pay the allotment and call money. Mr. Shantanu, a holder of 200 shares, failed to pay the call money. All these shares were forfeited. Out of the forfeited shares, 150 shares (including all of Rashidi's shares) were reissued at ₹8 per share.Question: The total amount of Securities Premium Reserve credited at the time of the allotment of shares will be:
Q28mediummcqAccountancyCUET Accountancy 2022 20 Aug Shift 22026
The company purchased plant with a book value of Rs. from National Victory Company and agreed to pay via issuing , Debentures of Rs. each at a discount of .Amount that will be credited to Debenture A/c will be:
Q29easymcqAccountancyCUET Accountancy 2022 20 Aug Shift 22026
The money received from applicants to whom no debentures have been allotted will be ________
Q30easymcqAccountancyCUET Accountancy 2022 30 Aug Shift 22026
Instructions: Read the passage carefully and answer the following questions 46-50)XYZ Ltd is registered with an authorised capital of Rs. lakh divided into lakh equity shares of Rs. each. The company is in manufacturing of pickles and spices. Due to the increase in demand of packed food in the market they decided to diversify its operation. For this purpose they decided to issue lakh equity share of Rs. each. The company issued equity shares to a vendor to supply the machinery required to manufacture the packed food. Rest of the equity shares were issued to general public for subscription. The application were received for equity shares. Due to undersubscription of equity shares the shares were not issued to public. The company issued equity shares of Rs. each to vendor. After issuing them the shares the vendor will be considered as:
Q31mediummcqAccountancyCUET Accountancy 2022 8 Aug Shift 22026
As per the Companies Act, 2013, in general, the maximum time gap specified between two annual general meetings of a company is:
Q32mediummcqAccountancyCUET Accountancy 2022 23 Aug Shift 2 PYQs2026
Raj Ltd. was registered with equity shares. They issued equity shares @ each payable as follow :On Application Rs. per shareOn Allotment Rs. per shareand Balance on callsThe issue was over subscribed by shares. The directors decided upon making prorata allotment to shares while remaining were returned.The maximum amount that can be called up on the first call by the company is :
Q33easymcqAccountancyCUET Accountancy 2022 30 Aug Shift 22026
Instructions: Read the passage carefully and answer the following questions 46-50) XYZ Ltd is registered with an authorised capital of Rs. lakh divided into lakh equity shares of Rs. each. The company is in manufacturing of pickles and spices. Due to the increase in demand of packed food in the market they decided to diversify its operation. For this purpose they decided to issue lakh equity share of Rs. each. The company issued equity shares to a vendor to supply the machinery required to manufacture the packed food. Rest of the equity shares were issued to general public for subscription. The application were received for equity shares. Due to undersubscription of equity shares the shares were not issued to public. The process of issuing shares to a vendor in exchange of any asset is known as:
Q34hardmcqAccountancyCUET Accountancy 2022 8 Aug Shift 22026
Bajaj Sales Ltd. issues equity shares of Rs. each to the public. The amount is payable as,On application Rs. per shareOn allotment Rs. per shareOn first call Rs. per shareOn final call Rs. per shareAll money has been received on shares. Only one shareholder, who has shares could not pay allotment money and his shares have been forfeited before making first call. Forfeited shares have been re-issued at Rs. fully paid-up. What is the amount of capital reserve?
Q35mediummcqAccountancyCUET Accountancy 2022 30 Aug Shift 22026
Securities premium Reserve can be utilised ___A. to return excess money received on applicationB. to write off preliminary expensesC. to issue partly paid bonus sharesD. for premium paid on Redemption of Debentures or preference sharesE. for buy back of sharesChoose the correct answer from the options given below:
Q36mediummcqAccountancyCUET Accountancy 2022 23 Aug Shift 2 PYQs2026
Match List - I with List - II.List - I ||| List - II(A) Share forfeiture ||| (I) Cr. share capital(B) Shares reissued ||| (II) Dr. share capital(C) Excess application money refunded ||| (III) Dr. Bank A/c(D) Calls money received ||| (IV) Cr. Bank A/cChoose the correct answer from the options given below :
Q37easymcqAccountancyCUET Accountancy 2022 8 Aug Shift 22026
As per Companies Act, 2013, a one person company is a:
Q38mediummcqAccountancyCUET Accountancy 2022 8 Aug Shift 22026
Amalgamation is a form of:
Q39easymcqAccountancyCUET Accountancy 2022 23 Aug Shift 2 PYQs2026
Uncalled capital that can be called up only in event of winding up of the company is called :
Q40mediummcqAccountancyCUET Accountancy 2022 8 Aug Shift 22026
Premium on issue of shares can be used for:
Q41mediummcqAccountancyCUET Accountancy 2022 8 Aug Shift 22026
After the debentures are redeemed, the balance in the Sinking Fund Account is transferred to:
Q42mediummcqAccountancyCUET Accountancy 2022 30 Aug Shift 22026
When debentures are issued at premium with the term of redeeming them at par. The amount of premium received at the time of issue will be:
Q43easymcqAccountancyCUET Accountancy 2022 23 Aug Shift 2 PYQs2026
If a share of Rs. on which Rs. has been paid is forfeited, at what minimum price can it be reissued ?
Q44mediummcqAccountancyCUET Accountancy 2022 8 Aug Shift 22026
Which from the following is also known as 'Vertical Organisation'?
Q45easymcqAccountancyCUET Accountancy 2023 28 May Shift 12026
Match List - I with List - II.

Choose the correct answer from the options given below:
Q46easymcqAccountancyCUET Accountancy 2022 8 Aug Shift 22026
Debenture holders are:
Q47mediummcqAccountancyCUET Accountancy 2023 28 May Shift 12026
Match List - I with List - II according to SEBI Guidelines and the Companies Act, 2013:
\begin{array}{|l|l|} \hline \textbf{List - I} & \textbf{List - II} \\ \hline \text{(A) Application money must be at least \_\_\_\_% of the face value of the share} & \text{(I) } 25\% \\ \text{(B) The amount of a single Call should not exceed \_\_\_\_% of the face value of the share} & \text{(II) } 90\% \\ \text{(C) Minimum subscription cannot be less than \_\_\_\_% of the issued amount under SEBI guidelines} & \text{(III) } 10\% \\ \text{(D) Max interest charged on call-in-arrears under Table F is @ \_\_\_\_% p.a.} & \text{(IV) } 5\% \\ \hline \end{array}
Choose the correct answer from the options given below:
Q48mediummcqAccountancyCUET Accountancy 2023 29 May Shift 22026
On 1st July 2022, Centaur Ltd. issued , debentures of each as collateral security to First Level Bank against loan dues of . How much net liability amount on account of this transaction will be shown in the main final figures of the Balance Sheet?
Q49mediummcqAccountancyCUET Accountancy 2022 30 Aug Shift 22026
Match List I with List IILIST I: Basis of DebentureA. TenureB. Interest rate point of viewC. SecurityD. BearerLIST II: Types of DebentureI. Zero coupon rateII. IrredemableIII. RegistrationIV. SecuredChoose the correct answer from the options given below:
Q50mediummcqAccountancyCUET Accountancy 2022 30 Aug Shift 22026
Instructions: Read the passage carefully and answer the following questions 46-50) XYZ Ltd is registered with an authorised capital of Rs. lakh divided into lakh equity shares of Rs. each. The company is in manufacturing of pickles and spices. Due to the increase in demand of packed food in the market they decided to diversify its operation. For this purpose they decided to issue lakh equity share of Rs. each. The company issued equity shares to a vendor to supply the machinery required to manufacture the packed food. Rest of the equity shares were issued to general public for subscription. The application were received for equity shares. Due to undersubscription of equity shares the shares were not issued to public. In order to raise money by issuing the shares in the market the company must get applications for at least ____.
Q51mediummcqAccountancyCUET Accountancy 2022 23 Aug Shift 2 PYQs2026
Securities Premium Reserve as per section 52(2) of the companies Act 2013 can be used :(A) To write-off preliminary expenses of the company(B) To issue fully paid bonus shares to the extent not exceeding unissued share capital of the company(C) To pay premium on the redemption of preference shares or debentures(D) To write off discount allowed on the goods sold on creditChoose the correct answer from the options given below :
Q52mediummcqAccountancyCUET Accountancy 2022 8 Aug Shift 22026
A company issues a share of Rs. on which Rs. is called-up and a shareholder has not paid the call of Rs. . The amount credited to share capital in respect of such shares will be:
Q53easymcqAccountancyCUET Accountancy 2023 29 May Shift 22026
Identify those debentures out of the following options on which no explicit interest will be paid or provided by the company.
Q54hardmcqAccountancyCUET Accountancy 2023 29 May Shift 22026
Based on the following passage, answer questions from 41 to 45:A Ltd with an Authorised Capital of is divided into shares of each, issued shares at a premium of per share payable as follows:On Application: per shareOn Allotment: per share (including premium)On First and Final call: Balance amountApplications were received for 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 shares. His shares were forfeited and later half of his forfeited shares were reissued at per share as fully paid up.Question: Select the exact net cash amount received on the Share Allotment Account.
Q55hardmcqAccountancyCUET Accountancy 2022 8 Aug Shift 22026
A company has to redeem redeemable preference shares of the value of Rs. at a premium of for which the company has issued equity shares of Rs. each at a premium of . The amount to be transferred to capital redemption reserve account would be:
Q56mediummcqAccountancyCUET Accountancy 2023 29 May Shift 22026
Based on the following passage, answer questions from 41 to 45:A Ltd with an Authorised Capital of is divided into shares of each, issued shares at a premium of per share payable as follows:On Application: per shareOn Allotment: per share (including premium)On First and Final call: Balance amountApplications were received for 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 shares. His shares were forfeited and later half of his forfeited shares were reissued at per share as fully paid up.Question: Identify the account to which the discount allowed on the reissue of forfeited shares should be debited.
Q57mediummcqAccountancyCUET Accountancy 2023 29 May Shift 22026
Based on the following passage, answer questions from 41 to 45:A Ltd with an Authorised Capital of is divided into shares of each, issued shares at a premium of per share payable as follows:On Application: per shareOn Allotment: per share (including premium)On First and Final call: Balance amountApplications were received for 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 shares. His shares were forfeited and later half of his forfeited shares were reissued at 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?
Q58easymcqCUET AccountancyCUET Accountancy 16 July Shift 22026
Case Study Information:Moonrise Co. is authorized with a Share Capital of ₹5,00,000. It issued 10,000 equity shares of ₹12 each (Face Value ₹10 + Premium ₹2).The money was payable as:₹4 on Application₹4 on Allotment (including premium of ₹2)₹4 on 1st and final callApplications were received for 12,000 shares and the directors decided to make a pro-rata allotment. Mr. Rashidi, an applicant for 120 shares, failed to pay the allotment and call money. Mr. Shantanu, a holder of 200 shares, failed to pay the call money. All these shares were forfeited. Out of the forfeited shares, 150 shares (including all of Rashidi's shares) were reissued at ₹8 per share.Question: The shares are reissued at a:
Q59mediummcqAccountancyCUET Accountancy 2022 20 Aug Shift 22026
Match List I with List II
image
Choose the correct answer from the options given below:
Q60easymcqAccountancyCUET Accountancy 2022 23 Aug Shift 2 PYQs2026
An issue of shares made by the company to the public in general for subscription is called :
Q61easymcqAccountancyCUET Accountancy 2022 30 Aug Shift 22026
Instructions: Read the passage carefully and answer the following questions 46-50) XYZ Ltd is registered with an authorised capital of Rs. lakh divided into lakh equity shares of Rs. each. The company is in manufacturing of pickles and spices. Due to the increase in demand of packed food in the market they decided to diversify its operation. For this purpose they decided to issue lakh equity share of Rs. each. The company issued equity shares to a vendor to supply the machinery required to manufacture the packed food. Rest of the equity shares were issued to general public for subscription. The application were received for equity shares. Due to undersubscription of equity shares the shares were not issued to public.The following refer to the maximum amount of share capitals issued by a company in its life times except:
Q62mediummcqAccountancyCUET Accountancy 2022 23 Aug Shift 2 PYQs2026
All of them are shown under the sub-heading 'Reserve and Surplus' except :
Q63mediummcqAccountancyCUET Accountancy 2022 20 July Shift 12026
Identify the statement that is/are not true from the following.(a) Shares can be forfeited for non payment of call money.(b) The profit on forfeited shares is transferred to capital reserve.(c) Balance of share forfeiture account is shown in the balance sheet under reserves and surplus.(d) Application money should be at least 10% of the face value of the share.Choose the correct answer from the options given below:
Q64easymcqAccountancyCUET Accountancy 2022 20 July Shift 12026
Arrange the following steps as per the procedure of issue of shares:(a) Receipt of applications(b) Allotment of shares(c) Reissue of forfeited shares(d) Issue of prospectus(e) Forfeiture of sharesChoose the correct answer from the options given below:
Q65mediummcqAccountancyCUET Accountancy 2022 23 Aug Shift 2 PYQs2026
Identify the methods of Redemption of Debenture from the following.(A) By conversion into shares or new debenture(B) Purchase in open market(C) Sinking fund(D) Payment in instalments(E) Payment in lump-sumChoose the correct answer from the options given below :
Q66mediummcqAccountancyCUET Accountancy 2022 20 July Shift 12026
The following journal entry is recorded in the books of RST Ltd. on issue of debentures: Bank a/c Dr 18,00,000Loss on issue of Debentures a/c Dr 6,00,000To 14% Debentures 20,00,000To Premium on Redemption of Debentures 4,00,000Debentures have been issued at a discount of:
Q67easymcqAccountancyCUET Accountancy 2022 20 July Shift 12026
If a share of Rs. 100 on which Rs. 45 has been paid is forfeited, at what minimum price can it be reissued:
Q68easymcqAccountancyCUET Accountancy 2022 30 Aug Shift 22026
What is the correct sequence of allotment of sharesA. Allotment money receivedB. Inviting applications from investorsC. Allotment DueD. Application money ReceivedE. Share Call Money DueChoose the correct answer from the options given below :
Q69mediummcqAccountancyCUET Accountancy 2022 30 Aug Shift 22026
Instructions: Read the passage carefully and answer the following questions 46-50) XYZ Ltd is registered with an authorised capital of Rs. lakh divided into lakh equity shares of Rs. each. The company is in manufacturing of pickles and spices. Due to the increase in demand of packed food in the market they decided to diversify its operation. For this purpose they decided to issue lakh equity share of Rs. each. The company issued equity shares to a vendor to supply the machinery required to manufacture the packed food. Rest of the equity shares were issued to general public for subscription. The application were received for equity shares. Due to undersubscription of equity shares the shares were not issued to public. If the company is unable to get minimum subscription, the shares cannot be issued and the amount must be refunded within 8 days from the date of closure. If not, company shall be liable to pay ______ interest p.a.
Q70mediummcqAccountancyCUET Accountancy 2022 20 Aug Shift 22026
Which A/c is credited for transfer of interest on Debenture Redemption Fund Investment?
Q71mediummcqAccountancyCUET Accountancy 2022 20 July Shift 12026
Match List - I with List - II
image
Choose the correct answer from the options given below:
Q72mediummcqAccountancyCUET Accountancy 2022 20 July Shift 12026
MNO Ltd. forfeited 1,000 shares of Rs. 10 each on which shareholders had paid only application money of Rs. 3 per share. Out of these, 400 equity shares were reissued as fully paid for Rs. 9 per share. The gain on reissue of shares transferred to Capital reserve is:
Q73mediummcqAccountancyCUET Accountancy 2022 20 Aug Shift 22026
Match List I with List II
image
Choose the correct answer from the options given below:
Q74hardmcqCUET AccountancyCUET Accountancy 16 July Shift 22026
Case Study Information:Moonrise Co. is authorized with a Share Capital of ₹5,00,000. It issued 10,000 equity shares of ₹12 each (Face Value ₹10 + Premium ₹2).The money was payable as:₹4 on Application₹4 on Allotment (including premium of ₹2)₹4 on 1st and final callApplications were received for 12,000 shares and the directors decided to make a pro-rata allotment. Mr. Rashidi, an applicant for 120 shares, failed to pay the allotment and call money. Mr. Shantanu, a holder of 200 shares, failed to pay the call money. All these shares were forfeited. Out of the forfeited shares, 150 shares (including all of Rashidi's shares) were reissued at ₹8 per share.Question: The amount of Securities Premium Reserve to be debited at the time of forfeiture of shares will be:
Q75mediummcqCUET AccountancyCUET Accountancy 16 July Shift 22026
Securities Premium Reserve can be used to:A. Issue new shares to existing shareholdersB. Write off Preliminary expensesC. Writing off of GoodwillD. Premium on Redemption of debenturesE. Issue fully paid Bonus SharesChoose the correct answer from the options given below:
Q76easymcqAccountancyCUET Accountancy 2022 23 Aug Shift 2 PYQs2026
Raj Ltd. was registered with equity shares. They issued equity shares @ each payable as follow :On Application Rs. per shareOn Allotment Rs. per shareand Balance on callsThe issue was over subscribed by shares. The directors decided upon making prorata allotment to shares while remaining were returned.The portion of capital which the company does not issue to the public is known as :
Q77mediummcqAccountancyCUET Accountancy 2022 20 Aug Shift 22026
Correct sequence of issue of shares is -A. Receipt of ApplicationB. Issue of ProspectusC. Letter of Allotment of SharesD. Letter of RegretChoose the correct answer from the options given below:
Q78mediummcqCUET AccountancyCUET Accountancy 16 July Shift 22026
Z Ltd. issued 15,000, 12% Debentures of ₹100 each at a premium of 2% redeemable at a premium of 5%. In such a case:
Q79easymcqCUET AccountancyCUET Accountancy 16 July Shift 22026
Case Study Information (Questions 46-50):Moonrise Co. is authorized with a Share Capital of ₹5,00,000. It issued 10,000 equity shares of ₹12 each (Face Value ₹10 + Premium ₹2).The money was payable as:₹4 on Application₹4 on Allotment (including premium of ₹2)₹4 on 1st and final callApplications were received for 12,000 shares and the directors decided to make a pro-rata allotment. Mr. Rashidi, an applicant for 120 shares, failed to pay the allotment and call money. Mr. Shantanu, a holder of 200 shares, failed to pay the call money. All these shares were forfeited. Out of the forfeited shares, 150 shares (including all of Rashidi's shares) were reissued at ₹8 per share.Question: The Balance Sheet of the company will show the authorized capital of the company as:
Q80mediummcqAccountancyCUET Accountancy 2022 20 Aug Shift 22026
The directors of a company forfeited equity shares of Rs. each fully called up on which Rs. had been paid. All the forfeited shares were reissued upon payment of Rs. . Calculate the amount transferred to Capital Reserve
Q81easymcqCUET AccountancyCUET Accountancy 16 July Shift 22026
When the purchase consideration is more than the value of net assets taken over, the difference will be debited to:
Q82mediummcqCUET AccountancyCUET Accountancy 16 July Shift 22026
X Ltd. purchased assets from Y Ltd. for ₹98,10,000. X Ltd. issued 12% Debentures of ₹100 each at a 10% discount against the payment. The number of debentures issued to Y Ltd. is:
Q83mediummcqAccountancyCUET Accountancy 2022 8 Aug Shift 22026
When own debentures are cancelled, any profit on cancellation is transferred to:
Q84easymcqAccountancyCUET Accountancy 2023 28 May Shift 12026
Match List - I with List - II.

Choose the correct answer from the options given below:
Q85hardmcqAccountancyCUET Accountancy 2022 23 Aug Shift 2 PYQs2026
Raj Ltd. was registered with equity shares. They issued equity shares @ each payable as follow :On Application Rs. per shareOn Allotment Rs. per shareand Balance on callsThe issue was over subscribed by shares. The directors decided upon making prorata allotment to shares while remaining were returned.The amount to be adjusted with the call of allotment will be :
Q86mediummcqAccountancyCUET Accountancy 2023 29 May Shift 22026
According to Section 68 of the Companies Act, 2013, a company can buy back its own shares when which of the following conditions is satisfied?
Q87mediummcqAccountancyCUET Accountancy 2022 8 Aug Shift 22026
As per the Companies Act, 1956, a company shall hold the first meeting of board of directors within how many days of the date of its incorporation?
Q88mediummcqAccountancyCUET Accountancy 2023 29 May Shift 22026
When a company issues shares in the open market and the amount is payable in instalments, what is the chronological sequence of structural amounts demanded/processed by the company? A. Money received on callsB. Money due on callsC. Allotment money receivedD. Application money transferred to Share Capital A/cE. Allotment money due Choose the correct answer from the options given below:
Q89mediummcqAccountancyCUET Accountancy 2022 30 Aug Shift 22026
Romi Ltd. purchased building worth Rs. machinery worth Rs. and furniture worth Rs. from xyz co. and took over its liabilities of Rs. for a purchase consideration of Rs. . They paid the purchase consideration by issuing debentures of Rs. each at a premium of . What will be the number of debentures issued by Romi Ltd.
Q90easymcqAccountancyCUET Accountancy 2023 29 May Shift 22026
Based on the following passage, answer questions from 41 to 45:A Ltd with an Authorised Capital of is divided into shares of each, issued shares at a premium of per share payable as follows:On Application: per shareOn Allotment: per share (including premium)On First and Final call: Balance amountApplications were received for 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 shares. His shares were forfeited and later half of his forfeited shares were reissued at per share as fully paid up.Question: Identify the total number of shares with which A Ltd is registered.
Q91easymcqAccountancyCUET Accountancy 2022 8 Aug Shift 22026
Who from the following regularly attends the office of a company?
Q92hardmcqAccountancyCUET Accountancy 2023 29 May Shift 22026
Based on the following passage, answer questions from 41 to 45:A Ltd with an Authorised Capital of is divided into shares of each, issued shares at a premium of per share payable as follows:On Application: per shareOn Allotment: per share (including premium)On First and Final call: Balance amountApplications were received for 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 shares. His shares were forfeited and later half of his forfeited shares were reissued at 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.
Q93easymcqAccountancyCUET Accountancy 2022 23 Aug Shift 2 PYQs2026
Raj Ltd. was registered with equity shares. They issued equity shares @ each payable as follow :On Application Rs. per shareOn Allotment Rs. per shareand Balance on callsThe issue was over subscribed by shares. The directors decided upon making prorata allotment to shares while remaining were returned.Total applications received are for :
Q94mediummcqAccountancyCUET Accountancy 2022 20 July Shift 12026
PQR Ltd. issued 40,000 Equity shares of Rs. 10 each at par payable Rs. 3 on application, Rs. 4 on allotment and balance on first and final call. Applications were received for 1,10,000 shares. Applications for 20,000 shares were refused and allotment was made prorata to remaining applicants. Amount received on allotment is:
Q95easymcqAccountancyCUET Accountancy 2022 30 Aug Shift 22026
Calculate the amount of yearly interest payable on debentures ( debentures of Rs. ) issued as collateral security.
Q96easymcqAccountancyCUET Accountancy 2022 30 Aug Shift 22026
What are different types of debentures from the view point of registration A. ConvertibleB. BearerC. RedeemableD. SecuredE. Registered Choose the correct answer from the options given below:
Q97mediummcqAccountancyCUET Accountancy 2022 30 Aug Shift 22026
What is the correct sequence of types of capital in company's Balance sheet while preparing notes to accounts.A. Issued CapitalB. Subscribed and fully paid up capitalC. Share forfeited BalanceD. Authorised CapitalE. Subscribed but not fully paid up capital Choose the correct answer from the options given below:
Q98mediummcqAccountancyCUET Accountancy 2022 23 Aug Shift 2 PYQs2026
Raj Ltd. was registered with equity shares. They issued equity shares @ each payable as follow :On Application Rs. per shareOn Allotment Rs. per shareand Balance on callsThe issue was over subscribed by shares. The directors decided upon making prorata allotment to shares while remaining were returned.Amount to be returned to the applicants due to non-allotment of shares will be :
Q99mediummcqAccountancyCUET Accountancy 2022 20 Aug Shift 22026
Blue Prints Ltd. purchased a building worth Rs. , Machinery worth Rs. and Furniture worth Rs. from XYZ Co. and took over its liabilities of Rs. for a purchase consideration of Rs. .Calculate the Goodwill/Capital Reserve to be recorded by Blue Print Ltd.
Q100easymcqCUET AccountancyCUET Accountancy 16 July Shift 22026
Identify the correct sequence of steps in the process of the Issue of Shares:A. Making allotment of sharesB. Issue of ProspectusC. Forfeiture of sharesD. Receiving applications for sharesE. Making callsChoose the correct answer from the options given below:
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