Company Accounts Questions

Shares can be forfeited:

Jain and Co. purchased a machine from Young Life Machine Limited for Rs. 3,80,000. As per the purchase agreement, Rs. 20,000 were paid in cash and balance by issue of shares of Rs. 100 each. How many shares are issued if the shares are issued at 20% premium?

In which order, the following types of share capital are shown in the balance sheet of a company?(A) Subscribed Capital(B) Called up Capital(C) Issued Capital(D) Authorized CapitalChoose the correct answer from the options given below:

Discount allowed on re-issue of forfeited shares, will be:

Which statements among the following are CORRECT?(A) A public company's shares are generally transferable.(B) Share application account is a personal account.(C) The director of a company may be a shareholder.(D) Paid up capital can exceed called up capital.Choose the correct answer from the options given below:

Select the TRUE statement related to the issue/re-issue of equity shares.

The following are the features of a Company:(A) Separate Legal Entity(B) Unlimited Liability(C) Perpetual Succession(D) Common SealChoose the correct answer from the options given below:

A company has issued 10% Debentures of Face Value of Rs. 5,00,000 as Collateral Security against Rs. 6,00,000, 12% Bank Loan. What amount of total interest will be paid by company for the whole year?

Arrange the important steps in the correct sequence in the procedure of share issue:(A) Receipt of Applications(B) Allotment of Shares(C) Listing of Shares on the Stock Exchange(D) Issue of ProspectusChoose the correct answer from the options given below:

The maximum amount of discount on the re-issue of forfeited shares will be:

Select the INCORRECT statement from the below given statements:

Match List-I with List-IIList-I (Type of Debenture)List-II (Explanation)(A) Secured Debentures(I) These debentures do not have a specific charge on the assets of the company.(B) Irredeemable Debentures(II) These debentures are those which are payable on the expiry of the specific period either in lump sum or in installments during the lifetime of the company.(C) Unsecured Debentures(III) It refers to those debentures where a charge is created on the assets of the company for the purpose of payment in case of default.(D) Redeemable Debentures(IV) These debentures are repayable on the winding-up of a company or on the expiry of a long period.Choose the correct answer from the options given below:

A company maintains 'Calls in Arrears' Account. What entry will be passed on receiving first call money provided the whole amount due on it is not received?

Perpetual Debentures are also known as:

What is the nominal share capital?