Company Accounts Questions

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}
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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:

AB & Co. purchased assets worth $\text{Rs. }28,80,000$ from a vendor. The company issued debentures of $\text{Rs. }100$ each at a discount of $4\%$ in full satisfaction of the purchase consideration. Calculate the number of debentures issued to the vendor.

XYZ Ltd. operates in the FMCG sector in the South Indian market. To expand into Northern India, the company raises an additional capital of $\text{Rs. }20,00,000$. It raises $\text{Rs. }12,00,000$ by issuing $10\%$ Debentures of $\text{Rs. }100$ each at a discount of $10\%$, redeemable after $6$ years. The remaining funds are raised by issuing perpetual $5\%$ Debentures of $\text{Rs. }8,00,000$ of $\text{Rs. }100$ each at a $15\%$ premium. After six years of successful operations, the company takes a loan of $\text{Rs. }5,00,000$ from PNB, pledging $5\%$ Debentures of $\text{Rs. }8,00,000$ as collateral security. The loan is fully repaid within two years.How are the $10\%$ debentures (repayable after $6$ years) classified based on their redemption terms?

Match List - I with List - II.

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Under which Sub-head do we show the Securities Premium in the Balance Sheet of a company?

XYZ Ltd. operates in the FMCG sector in the South Indian market. To expand into Northern India, the company raises an additional capital of $\text{Rs. }20,00,000$. It raises $\text{Rs. }12,00,000$ by issuing $10\%$ Debentures of $\text{Rs. }100$ each at a discount of $10\%$, redeemable after $6$ years. The remaining funds are raised by issuing perpetual $5\%$ Debentures of $\text{Rs. }8,00,000$ of $\text{Rs. }100$ each at a $15\%$ premium. After six years of successful operations, the company takes a loan of $\text{Rs. }5,00,000$ from PNB, pledging $5\%$ Debentures of $\text{Rs. }8,00,000$ 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?

XYZ Ltd. operates in the FMCG sector in the South Indian market. To expand into Northern India, the company raises an additional capital of $\text{Rs. }20,00,000$. It raises $\text{Rs. }12,00,000$ by issuing $10\%$ Debentures of $\text{Rs. }100$ each at a discount of $10\%$, redeemable after $6$ years. The remaining funds are raised by issuing perpetual $5\%$ Debentures of $\text{Rs. }8,00,000$ of $\text{Rs. }100$ each at a $15\%$ premium. After six years of successful operations, the company takes a loan of $\text{Rs. }5,00,000$ from PNB, pledging $5\%$ Debentures of $\text{Rs. }8,00,000$ as collateral security. The loan is fully repaid within two years.The $5\%$ debentures of $\text{Rs. }8,00,000$ ($\text{Rs. }100$ face value) were issued at a $15\%$ premium. The payment terms are $\text{Rs. }25$ on application, $\text{Rs. }50$ on allotment, and $\text{Rs. }40$ on the first and final call. Calculate the total amount credited to the "Securities Premium Account".

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:

XYZ Ltd. operates in the FMCG sector in the South Indian market. To expand into Northern India, the company raises an additional capital of $\text{Rs. }20,00,000$. It raises $\text{Rs. }12,00,000$ by issuing $10\%$ Debentures of $\text{Rs. }100$ each at a discount of $10\%$, redeemable after $6$ years. The remaining funds are raised by issuing perpetual $5\%$ Debentures of $\text{Rs. }8,00,000$ of $\text{Rs. }100$ each at a $15\%$ premium. After six years of successful operations, the company takes a loan of $\text{Rs. }5,00,000$ from PNB, pledging $5\%$ Debentures of $\text{Rs. }8,00,000$ as collateral security. The loan is fully repaid within two years.When issuing the $10\%$ debentures of $\text{Rs. }12,00,000$ at a $10\%$ discount, what amount should be debited to the "Discount on Issue of Debentures A/c" if all money is received in a single installment?

XYZ Ltd. operates in the FMCG sector in the South Indian market. To expand into Northern India, the company raises an additional capital of $\text{Rs. }20,00,000$. It raises $\text{Rs. }12,00,000$ by issuing $10\%$ Debentures of $\text{Rs. }100$ each at a discount of $10\%$, redeemable after $6$ years. The remaining funds are raised by issuing perpetual $5\%$ Debentures of $\text{Rs. }8,00,000$ of $\text{Rs. }100$ each at a $15\%$ premium. After six years of successful operations, the company takes a loan of $\text{Rs. }5,00,000$ from PNB, pledging $5\%$ Debentures of $\text{Rs. }8,00,000$ 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"?

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}
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Match List - I with List - II.
$$\begin{array}{ll}\text{List - I}& \text{List - II}\\ \text{(A) Over-Subscription}& \text{(I) Minimum amount that must be raised by issue of shares}\\ \text{(B) Minimum subscription}& \text{(II) Application received is more than shares issued}\\ \text{(C) Under-Subscription}& \text{(III) Allotment of shares without issue of prospectus}\\ \text{(D) Private Placement}& \text{(IV) Application received is less than shares issued}\end{array}$$
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Match List - I with List - II.
$$\begin{array}{ll}\text{List - I (Share Capital Classifications)}& \text{List - II (Characteristics)}\\ \text{(A) Authorised Capital}& \text{(I) A portion of uncalled share capital to be called only during winding up}\\ \text{(B) Reserve Capital}& \text{(II) Maximum amount of share capital a company can raise during its lifetime}\\ \text{(C) Issued Capital}& \text{(III) Capital issued to the public for subscription}\\ \text{(D) Subscribed but not fully paid capital}& \text{(IV) Amount called up and received but not fully up to face value}\end{array}$$
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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}
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