Company Accounts Questions

Match List-I with List-IIList–IList–II(A) Authorized capital(I) Mentioned in Prospectus.(B) Issued capital.(II) Mentioned in Memorandum of Association.(C) Subscribed capital.(III) called up capital–calls in arrears.(D) Paid up capital.(IV) Capital for which application is received.Choose the correct answer from the options given below:

Interest on calls in arrears is charged according to "Table F" at :

When debentures are issued at par and are redeemable at a premium, the loss on such issue is debited to :

Match List-I with List-IIList-IList-II(A) For the amount of calls received in advance(I) Calls in Advance A/c Dr.To Particular Call A/c(B) Interest on Calls in Advance is due(II) Sundry Shareholder's A/c Dr.To Bank A/c(C) The amount of 'Calls in Advance' is adjusted(III) Bank A/c Dr.To Calls in Advance A/c(D) Interest on Calls in Advance, For Interest Paid(IV) Interest on Calls in Advance A/c Dr.To Sundry Shareholder's A/cChoose the correct answer from the options given below:

Amount of discount allowed on the reissue of forfeited shares cannot exceed the amount that has:-

Identify which of the following will be shown in Notes to Accounts under SHARE CAPITAL head :-

Which among the following debentures are the debentures which can be transferred by way of delivery and the company does not keep any record of the debentures. Interest on the debentures is paid to a person who produces this interest coupon attached to such debentures?

Issue of $8\%$ debentures is shown under which sub-head in the balance sheet of a company:

The following are the features of Debentures:(A) The payment of interest is a charge on profits and is to be paid even if there is no profit.(B) The debentures, which are issued for a specified period are repayable on the expiry of that period.(C) If the debentures are generally secured, they carry a fixed or floating charge over the assets of the company.(D) Debentures can not be converted into shares in any case.Choose the correct answer from the options given below:

Shares can be forfeited :

Nominal share capital is :

From an accounting point of view, arrange the following share capital of the company in the correct sequence:(A) Subscribed Capital(B) Authorized Capital(C) Called up Capital(D) Issued CapitalChoose the correct answer from the options given below:

Identify the true statement in respect of Reserve Capital :-

Arrange the following steps in the procedure of share issues in the correct sequence:(A) Receipt of Applications(B) Allotment of Shares(C) Issue of Prospectus(D) Listing on the stock exchangeChoose the correct answer from the options given below:

Match List-I with List-IIList–IList–II(A) Calls in Arrears(I) Shares are taken back by the company as shareholders failed to pay one or more installments, viz. allotment money and/or call money.(B) Calls in Advance(II) This is a situation where the number of shares applied for is less than the number for which applications have been invited for subscription.(C) Forfeiture of Shares(III) This is the amount which any shareholder fails to pay on allotment or on any of the calls.(D) Under Subscription(IV) Table 'F' of the Companies Act provides for the payment of interest on this call at a rate not exceeding 12% per annum.Choose the correct answer from the options given below:

Which of the following statements are true with reference to a company?(A) The directors of the company are the owners of the company.(B) A company is an artificial person.(C) A company has its common seal.(D) The liability of the members of the company is limited to the extent of shares held by themChoose the correct answer from the options given below:

R Ltd purchased a building from X Infra for $\text{Rs. }6,00,000$ and the payment is to be made by the issue of shares for $\text{Rs. }100$ each at a premium of $20\%$. Calculate the number of shares to be issued.