Company Accounts Questions

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 $\text{Rs. }3,80,000$. As per purchase agreement, $\text{Rs. }20,000$ were paid in cash and balance by issue of shares of $\text{Rs. }100$ each. Find the number of shares issued, if they are issued at par:

Match List-I with List-II
$$\begin{array}{ll}\text{List-I}& \text{List-II}\\ \text{(A) Redeemable Debentures}& \text{(I) The company does not give any undertaking for the repayment of money borrowed by issuing such debentures}\\ \text{(B) Convertible Debentures}& \text{(III) Which are payable on the expiry of the specific period either in lump sum or in installments during the life time of the company.}\\ \text{(C) Irredeemable Debentures}& \text{(III) Which are convertible into equity shares or in any other security either at the option of the company or the debenture holders.}\\ \text{(D) Unsecured Debentures}& \text{(IV) These do not have a specific charge on the assets of the company.}\end{array}$$
Choose the correct answer from the options given below:

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

Which of the following is true about debentures-(A) Debenture is a part of owned capital.(B) The payment of interest on debentures is a charge on the profits of the company.(C) The debentures cannot be issued at a discount of more than $10\%$ of the face value.(D) Redeemable debentures are those debentures which are payable on the expiry of the specific period.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 ..................?

Debentures which are transferable by mere delivery are:

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 $\text{Rs. }10$ each, did not pay the allotment money of $\text{Rs. }4$ per share (including a premium of $\text{Rs. }2$) and the first and final call of $\text{Rs. }3$. 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 CapitalChoose 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: