Company Accounts Questions

A share having a face value of $\text{Rs. }12$, on which $\text{Rs. }10$ is called-up and $\text{Rs. }8$ is paid, is forfeited. State the amount with which the Share Capital account will be debited.

Under Indian accounting disclosure criteria, specification of the exact shareholding percentage and count is mandatory for each individual shareholder holding more than:

A debenture which is transferable merely by physical delivery is a:

According to the Companies Act 2013, while issuing shares, the application money should be at least ______ of the face value of the share.

Match List-I with List-IIList-I (Debenture Type)List-II (Meaning)(A) Redeemable Debenture(I) Payable on the expiry of the specific period either in lump sum or in installments during the lifetime of the company.(B) Perpetual Debenture(II) Company does not give any undertaking for the repayment of money borrowed by issuing such debentures.(C) Specific Coupon Rate Debenture(III) Issued with a specified rate of interest, which is called the coupon rate.(D) Bearer Debenture(IV) Can be transferred by way of delivery and the company does not keep any record of the debenture.Choose the correct answer from the options given below:

A minimum of ______ days' notice is to be given to the shareholders to pay the amount of any call:

According to Section 52(2) of the Companies Act, 2013, the amount of Securities Premium can be used only for the following purposes:(A) To write off preliminary expenses.(B) To make partly paid shares as fully paid up.(C) To issue fully paid bonus shares.(D) Purchase of its own shares (Buyback).Choose the correct answer from the options given below:

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

According to 'Table F' of Schedule I of Companies Act 2013, interest on calls-in-arrears is charged at a maximum rate of:

Match List-I with List-IIList-IList-II(A) Calls in advance(I) The maximum number of members is 200.(B) Calls in arrears(II) $12\%$ interest p.a.(C) Private company(III) $10\%$ interest p.a.(D) Public company(IV) No limit on the maximum number of members.Choose the correct answer from the options given below:

According to Sec 2 (62) of Companies Act, 2013, the maximum amount of paidup share capital of an OPC is:

Arrange the following categories of capital in the correct hierarchical sequence (from largest/first to narrowest):(A) Called-up capital(B) Subscribed capital(C) Issued capital(D) Paid-up capitalChoose the correct answer from the options given below:

Which of the following statements about debentures is FALSE?(A) Debenture is a part of owned capital.(B) Debentures cannot be converted into shares.(C) Redeemable debentures are those debentures, which are payable on the expiry of the specific period.(D) Debentures cannot be issued at a premium.Choose the correct answer from the options given below:

According to standard company procedures and regulatory guidance, a minimum period of how many month/months must elapse between two calls?

Equity shareholders are..................of the company:

Which of the following statements about share capital is TRUE?(A) A company's shares are generally transferable.(B) Share application account is a personal account.(C) The part of capital which is called up only on winding up of a company is called reserve capital.(D) Paid up capital can exceed called up capital.Choose the correct answer from the options given below:

Identify the steps of the procedure of share issue in the correct sequence:(A) Allotment of Shares(B) Receipt of Applications(C) Issue of Prospectus(D) Share CallChoose the correct answer from the options given below:

ABC Industries Ltd. issued $2,000$, $10\%$ Debentures of $\text{Rs. }100$ each, at a premium of $\text{Rs. }10$ per debenture payable as follows: On application $\text{Rs. }50$ On allotment $\text{Rs. }60$. The debentures were fully subscribed, and all money was duly received. The amount of long-term borrowings on the balance sheet will be:

Match List-I with List-IIList-I (Allotment Stage)List-II (Journal Entry)(A) For Transfer of Application Money(I) Share Application A/c Dr. To Bank A/c(B) For Money Refunded on Rejected Application(II) Bank A/c Dr. To Share Allotment A/c(C) For Amount Due on Allotment(III) Share Application A/c Dr. To Share Capital A/c(D) For Receipt of Allotment Money(IV) Share Allotment A/c Dr. To Share Capital A/cChoose the correct answer from the options given below:

Match List-I with List-IIList-I (Capital Type)List-II (Definition/Characteristic)(A) Authorised Capital(I) Only available to creditors at the time of winding up of a company(B) Issued Capital(II) The amount of capital that a company can raise in its life-time(C) Subscribed Capital(III) Capital that is issued to the public for subscription(D) Reserve Capital(IV) May be equal to or less than issued capitalChoose the correct answer from the options given below: