Company Accounts Questions

In a company's Balance Sheet, the balance of the "Share Forfeiture Account" is presented under which main head/sub-item?

Arrange the following steps in correct sequence with regard to Shares of a company.(A) Making Calls(B) Forfeiture of Shares(C) Issue of Prospectus(D) Calls in Arrears(E) Reissue of SharesChoose the correct answer from the options given below:

Steel and Company purchased a machine from Safe Machine Limited for ₹ $4,80,000$ and took over its liabilities of ₹ $3,00,000$. As per the purchase agreement, ₹ $50,000$ was paid in cash, and the remaining balance was settled by the issue of $2,000$ equity shares of ₹ $100$ each. What will be the amount of goodwill or capital reserve arising from this acquisition?

Arrange the following steps as per the procedure of issue of shares:(a) Receipt of applications(b) Allotment of shares(c) Reissue of forfeited shares(d) Issue of prospectus(e) Forfeiture of sharesChoose the correct answer from the options given below:

Comprehension:Read the following passage carefully and answer the questions that follow.$X$ Ltd. issued $30,000$ shares to the public having a Face Value of ₹ $100$ at a $10\%$ premium. The money is receivable as follows:Application = ₹ $40$ (including premium)Allotment = ₹ $45$ First and Final call = Remaining amountThe public applied for $50,000$ shares. The company rejected applications for $10,000$ shares and made a pro-rata allotment to the remaining applicants. A shareholder who had applied for $400$ shares failed to pay the allotment and call money, and his shares were subsequently forfeited by the company. Later, these forfeited shares were reissued at ₹ $80$ each as fully paid.What is the total amount of application money to be refunded by the company?

Redemption of Debenture can be done by many ways. Identify the wrong option.

Comprehension:Read the following passage carefully and answer the questions that follow.$X$ Ltd. issued $30,000$ shares to the public having a Face Value of ₹ $100$ at a $10\%$ premium. The money is receivable as follows:Application = ₹ $40$ (including premium)Allotment = ₹ $45$ First and Final call = Remaining amountThe public applied for $50,000$ shares. The company rejected applications for $10,000$ shares and made a pro-rata allotment to the remaining applicants. A shareholder who had applied for $400$ shares failed to pay the allotment and call money, and his shares were subsequently forfeited by the company. Later, these forfeited shares were reissued at ₹ $80$ each as fully paid.What type of share subscription took place in this scenario?

Identify the methods of Redemption of Debenture from the following.(A) By conversion into shares or new debenture(B) Purchase in open market(C) Sinking fund(D) Payment in instalments(E) Payment in lump-sumChoose the correct answer from the options given below :

Which of the following will be credited for the excess amount received along with allotment money from the shareholders?

Rancho Ltd. was running successfully since last 8 years. Post covid there were some financial problems faced by firm, like many industries were facing. Due to their past reputation they could manage the permission from SEBI for issuing of shares on 1 Aug, 2022. They also decided to issue $12\%$ Debentures of Rs. $100$ each at $10\%$ Discount and were to be redeemed at $25\%$ premium in such a way that they could arrange fund of Rs. $45,00,000$. At the time of issue of Debenture they also issued equity Share of Rs. $30,00,000$ at $20\%$ premium.Determine the number of Debentures to be issued.

In which order, the share capital of the Company is shown on the balance sheet:(A) Authorized Capital
(B) Subscribed and fully paid up Capital
(C) Issued Capital
(D) Subscribed but not fully paid upChoose the correct answer from the options given below:

If a share of Rs. 100 on which Rs. 45 has been paid is forfeited, at what minimum price can it be reissued:

Which of the following indicates the other name of 'Nominal Capital'?

Rancho Ltd. was running successfully since last 8 years. Post covid there were some financial problems faced by firm, like many industries were facing. Due to their past reputation they could manage the permission from SEBI for issuing of shares on 1 Aug, 2022. They also decided to issue $12\%$ Debentures of Rs. $100$ each at $10\%$ Discount and were to be redeemed at $25\%$ premium in such a way that they could arrange fund of Rs. $45,00,000$. At the time of issue of Debenture they also issued equity Share of Rs. $30,00,000$ at $20\%$ premium.How much amount is to be debited in statement of profit and Loss to write off loss on Issue of Debentures?

Which of the following is not a feature of a company?

What is the correct sequence of allotment of sharesA. Allotment money receivedB. Inviting applications from investorsC. Allotment DueD. Application money ReceivedE. Share Call Money DueChoose the correct answer from the options given below :

Which of the following company, by its articles, restricts the right to transfer its shares?

Rancho Ltd. was running successfully since last 8 years. Post covid there were some financial problems faced by firm, like many industries were facing. Due to their past reputation they could manage the permission from SEBI for issuing of shares on 1 Aug, 2022. They also decided to issue $12\%$ Debentures of Rs. $100$ each at $10\%$ Discount and were to be redeemed at $25\%$ premium in such a way that they could arrange fund of Rs. $45,00,000$. At the time of issue of Debenture they also issued equity Share of Rs. $30,00,000$ at $20\%$ premium.Interest payable on the Debentures issued for the year ended Mar, 31st 2023 will be:

Interest on calls-in-arrears is charged according to 'Table F' at the rate of ....... p.a?:

MNO Ltd. forfeited 1,000 shares of Rs. 10 each on which shareholders had paid only application money of Rs. 3 per share. Out of these, 400 equity shares were reissued as fully paid for Rs. 9 per share. The gain on reissue of shares transferred to Capital reserve is:

The debentures which are payable on the expiry of the specific period are:

Securities Premium reserve funds cannot be legally used for which of the following purposes?

It is to be noted that 'minimum subscription' of capital cannot be less than _________ of the issued amount according to SEBI Guidelines (Disclosure and Investor Protection).

Match List I with List II

Choose the correct answer from the options given below:

There must be an interval of how many months between the making of two calls unless otherwise provided by the articles of association of the company?

When a company reserves a specific portion of its uncalled capital to be called up only in the event of liquidation or winding up, this capital is known as:

Arrange the following steps related to the issue of shares in proper sequence.(A) Allotment of Shares(B) Receipt of Applications(C) Issue of Prospectus(D) Share callsChoose the correct answer from the options given below:

Securities Premium Reserve can be used to:A. Issue new shares to existing shareholdersB. Write off Preliminary expensesC. Writing off of GoodwillD. Premium on Redemption of debenturesE. Issue fully paid Bonus SharesChoose the correct answer from the options given below:

Match List-I with List-II:List-I (Particulars)List-II (Treatment)(A) Issue of debentures as collateral security(I) Vendor Account will be credited(B) Issue of debentures to Public(II) Debenture Suspense Account will be debited(C) Issue of debentures to vendor for purchase of an Asset(III) Statement of Profit and Loss will be debited(D) Writing off Discount/Loss on Issue of Debentures(IV) Bank Account will be debitedChoose the correct answer from the options given below:

Which of the following combinations for the issue and redemption of debentures is not practically possible or permissible in general accounting?

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

Raj Ltd. was registered with $70,000$ equity shares. They issued $40,000$ equity shares @ $10$ each payable as follow :On Application Rs. $4$ per shareOn Allotment Rs. $3$ per shareand Balance on $2$ callsThe issue was over subscribed by $50,000$ shares. The directors decided upon making prorata allotment to $60,000$ shares while remaining were returned.The portion of capital which the company does not issue to the public is known as :

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:

\textbf{Case Study Description:}Review the share allotment data for Eicher Ltd. to answer the questions:Eicher Ltd. issued $50,000$ equity shares of $\text{Rs. }10$ each at a premium of $\text{Rs. }5$ per share, payable as follows:\begin{itemize}\item On Application: $\text{Rs. }3$ per share\item On Allotment: $\text{Rs. }5$ per share (including $\text{Rs. }3$ Premium)\item On First Call: $\text{Rs. }5$ per share (including $\text{Rs. }2$ Premium)\item On Final Call: Balance amount\end{itemize}Applications were received for $72,000$ shares. The Directors allotted $50,000$ shares on a pro-rata basis to applicants who applied for $65,000$ shares, rejecting the remaining applications. The excess application money received was adjusted against the amount due on allotment. All amounts due were received except for the first call from Rahul, who had applied for $2,600$ shares. His shares were forfeited immediately after the non-payment of the first call. These forfeited shares were later reissued at the minimum possible reissue price.Calculate the amount credited to the Bank account on account of the refund sent to rejected applicants:

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:

Case Study Information (Questions 46-50):Moonrise Co. is authorized with a Share Capital of ₹5,00,000. It issued 10,000 equity shares of ₹12 each (Face Value ₹10 + Premium ₹2).The money was payable as:₹4 on Application₹4 on Allotment (including premium of ₹2)₹4 on 1st and final callApplications were received for 12,000 shares and the directors decided to make a pro-rata allotment. Mr. Rashidi, an applicant for 120 shares, failed to pay the allotment and call money. Mr. Shantanu, a holder of 200 shares, failed to pay the call money. All these shares were forfeited. Out of the forfeited shares, 150 shares (including all of Rashidi's shares) were reissued at ₹8 per share.Question: The Balance Sheet of the company will show the authorized capital of the company as:

\textbf{Case Study Description:}Review the share allotment data for Eicher Ltd. to answer the questions:Eicher Ltd. issued $50,000$ equity shares of $\text{Rs. }10$ each at a premium of $\text{Rs. }5$ per share, payable as follows:\begin{itemize}\item On Application: $\text{Rs. }3$ per share\item On Allotment: $\text{Rs. }5$ per share (including $\text{Rs. }3$ Premium)\item On First Call: $\text{Rs. }5$ per share (including $\text{Rs. }2$ Premium)\item On Final Call: Balance amount\end{itemize}Applications were received for $72,000$ shares. The Directors allotted $50,000$ shares on a pro-rata basis to applicants who applied for $65,000$ shares, rejecting the remaining applications. The excess application money received was adjusted against the amount due on allotment. All amounts due were received except for the first call from Rahul, who had applied for $2,600$ shares. His shares were forfeited immediately after the non-payment of the first call. These forfeited shares were later reissued at the minimum possible reissue price.Identify the ratio in which the shares were allotted on a pro-rata basis:

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

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

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:

The directors of a company forfeited $400$ equity shares of Rs. $10$ each fully called up on which Rs. $1,600$ had been paid. All the forfeited shares were reissued upon payment of Rs. $3,000$. Calculate the amount transferred to Capital Reserve

When the purchase consideration is more than the value of net assets taken over, the difference will be debited to:

\textbf{Case Study Description:}Review the share allotment data for Eicher Ltd. to answer the questions:Eicher Ltd. issued $50,000$ equity shares of $\text{Rs. }10$ each at a premium of $\text{Rs. }5$ per share, payable as follows:\begin{itemize}\item On Application: $\text{Rs. }3$ per share\item On Allotment: $\text{Rs. }5$ per share (including $\text{Rs. }3$ Premium)\item On First Call: $\text{Rs. }5$ per share (including $\text{Rs. }2$ Premium)\item On Final Call: Balance amount\end{itemize}Applications were received for $72,000$ shares. The Directors allotted $50,000$ shares on a pro-rata basis to applicants who applied for $65,000$ shares, rejecting the remaining applications. The excess application money received was adjusted against the amount due on allotment. All amounts due were received except for the first call from Rahul, who had applied for $2,600$ shares. His shares were forfeited immediately after the non-payment of the first call. These forfeited shares were later reissued at the minimum possible reissue price.Before a company can legally forfeit a shareholder's shares for non-payment of calls, which corporate body is authorized and required to issue the formal forfeiture notice?

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:

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.

Match List-I with List-II and choose the correct answer from the options given below:List-I (Name of account to be debited or credited, when shares are forfeited)(A) Share Capital Account(B) Share Forfeited Account(C) Calls-in-arrears Account(D) Securities Premium AccountList-II (Amount to be debited or credited)(I) Debited with amount not received(II) Credited with amount not received(III) Credited with amount received towards share capital(IV) Debited with amount called up

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:

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

Arrange the following steps in the correct sequence of the life of a company:(A) Commencement of Business(B) Incorporation(C) Promotion(D) FloatationChoose the correct answer from the options given below:

Match List-I with List-II:List-IList-II(A) Restricts the right to transfer its shares(I) OPC(B) A company which is a subsidiary of a public company(II) Private Company(C) A company which has only one person as a member(III) Perpetual Succession(D) Members may come and go but the company continues(IV) Public CompanyChoose the correct answer from the options given below:

Case Study Information:Moonrise Co. is authorized with a Share Capital of ₹5,00,000. It issued 10,000 equity shares of ₹12 each (Face Value ₹10 + Premium ₹2).The money was payable as:₹4 on Application₹4 on Allotment (including premium of ₹2)₹4 on 1st and final callApplications were received for 12,000 shares and the directors decided to make a pro-rata allotment. Mr. Rashidi, an applicant for 120 shares, failed to pay the allotment and call money. Mr. Shantanu, a holder of 200 shares, failed to pay the call money. All these shares were forfeited. Out of the forfeited shares, 150 shares (including all of Rashidi's shares) were reissued at ₹8 per share.Question: The shares are reissued at a:

Identify the false statements with regard to a company:(A) A company is an artificial person.(B) Company's shares are generally transferable.(C) Every member of a company is entitled to take part in its management.(D) The director of a company is always a shareholder.Choose the correct option:

Match List-I with List-II:List-I(A) Share capital(B) Reserves and surplus(C) Reserve capital(D) Current liabilitiesList-II(I) Will be called at the time of winding up(II) Calls in advance(III) Subscribed but not fully paid(IV) Sinking fundChoose the correct answer from the options given below:

$\text{Rs }50,000$ were received in advance for the second and final call along with the first call. The second and final call was due after two months from the first call. Table F (formerly Table A) provides for interest on calls in advance at a rate not exceeding _____ per annum, and the calculated interest on calls in advance for this period amounted to $\text{Rs }..........$

Match List I with List II

Choose the correct answer from the options given below:

Blue Prints Ltd. purchased a building worth $\text{Rs. }1,50,000$, machinery worth $\text{Rs. }1,40,000$, and furniture worth $\text{Rs. }10,000$ from XYZ Co., and took over its liabilities of $\text{Rs. }20,000$ for a total purchase consideration of $\text{Rs. }3,15,000$. Blue Prints Ltd. settled the purchase consideration by issuing $12\%$ debentures of $\text{Rs. }100$ each at a premium of $5\%$. The number of debentures issued is:

Debentures are convertible into which of the following?

Match List-I with List-II:List-IList-II(A) Unregistered Debentures(I) Perpetual Debentures(B) Unsecured Debentures(II) Naked Debentures(C) Secured Debentures(III) Bearer Debentures(D) Irredeemable Debentures(IV) Mortgage DebenturesChoose the correct answer from the options given below:

Case Study Information:Moonrise Co. is authorized with a Share Capital of ₹5,00,000. It issued 10,000 equity shares of ₹12 each (Face Value ₹10 + Premium ₹2).The money was payable as:₹4 on Application₹4 on Allotment (including premium of ₹2)₹4 on 1st and final callApplications were received for 12,000 shares and the directors decided to make a pro-rata allotment. Mr. Rashidi, an applicant for 120 shares, failed to pay the allotment and call money. Mr. Shantanu, a holder of 200 shares, failed to pay the call money. All these shares were forfeited. Out of the forfeited shares, 150 shares (including all of Rashidi's shares) were reissued at ₹8 per share.Question: The amount transferred to the Capital Reserve Account will be:

Sahil, a shareholder, failed to pay the second and final call of $\text{Rs. }20$ on $1,000$ shares issued to him at $\text{Rs. }120$ per share (face value of $\text{Rs. }100$ per share). His shares were forfeited after the final call deadlines passed. Which statement is correct regarding the Share Forfeiture Account?

Match List-I with List-II:List-IList-II(A) Authorised Capital(I) Capital which is actually issued to the public for subscription including the shares allotted to vendors and the signatories to the company's memorandum.(B) Issued Capital(II) It is that part of the subscribed capital which has been called up on the shares, i.e., what the company has asked the shareholders to pay.(C) Subscribed Capital(III) The amount of share capital which a company is authorised to issue by its Memorandum of Association.(D) Called up Capital(IV) It is that part of the issued capital which has been actually subscribed by the public.Choose the correct answer from the options given below:

An issue of shares made by the company to the public in general for subscription is called :

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

Which of the following is not a way of issuing debentures?

Nominal share capital is defined as:

Cronic Limited issued $10,000$ equity shares of $\text{Rs. }10$ each payable as $\text{Rs. }2.50$ on application, $\text{Rs. }3$ on allotment, $\text{Rs. }2$ on first call, and the balance of $\text{Rs. }2.50$ on second and final call. All the shares were fully subscribed and paid except by a shareholder having $100$ shares who could not pay for the second and final call. Calls in Arrears A/c will be debited with:

X Ltd. purchased assets from Y Ltd. for ₹98,10,000. X Ltd. issued 12% Debentures of ₹100 each at a 10% discount against the payment. The number of debentures issued to Y Ltd. is:

$400$ shares of $\text{₹ }50$ each issued at par were forfeited for non-payment of final call of $\text{₹ }10$ per share. These shares were reissued at $\text{₹ }45$ per share as fully paid-up. The amount transferred to capital reserve is:

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

Match List-I with List-II:List-IList-II(A) Interest on calls in arrears(I) Preference Shares(B) Interest on calls in advance(II) OPC (One Person Company)(C) Sec. 2(62) of The Companies Act, 2013 defines(III) 12%(D) Sec. 43 of The Companies Act, 2013 defines(IV) 10%Choose the correct answer from the options given below:

Which of the following statements are wrong about debentures?(A) Debenture is a part of owned capital.(B) The debentures cannot be issued at a discount of more than 10% of the face value.(C) Debentures cannot be converted into shares.(D) Redeemable debentures are those debentures, which are payable on the expiry of a specific period.Choose the correct answer from the options given below:

The money received from applicants to whom no debentures have been allotted will be ________

The directors of Poly Plastic Limited resolved that $200$ equity shares of $\text{Rs. }100$ each be forfeited for non-payment of the second and final call of $\text{Rs. }30$ per share. Out of these, $150$ shares were re-issued at $\text{Rs. }60$ per share to Mohit. The profit on the reissue of forfeited shares is transferred to the capital reserve. The amount credited to the capital reserve account is:

Arrange the steps for the public issue of shares in the correct chronological order:(A) Allotment of shares(B) Issue of Prospectus(C) Share first call(D) Receipt of ApplicationsChoose the correct answer from the options given below:

According to section _______ of The Companies Act, 2013 'Debenture' includes debenture stock, bonds and any other securities of a company whether constituting a charge on the assets of the company or not.

When a company issues shares at a premium, the company can collect Securities Premium along with the:

Which section of the Indian Companies Act, 2013 clarifies the legal classification of share capital into Equity shares and Preference shares?

Instructions: Read the passage carefully and answer the following questions 46-50)XYZ Ltd is registered with an authorised capital of Rs. $20$ lakh divided into $2$ lakh equity shares of Rs. $10$ each. The company is in manufacturing of pickles and spices. Due to the increase in demand of packed food in the market they decided to diversify its operation. For this purpose they decided to issue $1$ lakh equity share of Rs. $10$ each. The company issued $20,000$ equity shares to a vendor to supply the machinery required to manufacture the packed food. Rest of the equity shares were issued to general public for subscription. The application were received for $46,000$ equity shares. Due to undersubscription of equity shares the shares were not issued to public. The company issued $20,000$ equity shares of Rs. $10$ each to vendor. After issuing them the shares the vendor will be considered as:

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:

Which of the following statements are correct in relation to the issue of share capital for public subscription?(A) The application money should be at least 5% of the face value of the share.(B) Calls are to be made as per the provisions of the articles of association.(C) Where there is no articles of association of its own, the provisions of Table F (or Table A of earlier acts) will apply.(D) Calls need not be made on a uniform basis on all shares within the same class.Choose the correct answer from the options given below:

The following journal entry appears in the books of X Co. Ltd.:
$$\begin{array}{llcc}\text{Bank A/c}& \text{Dr.}& 4,75,000& \\ \text{Loss on issue of debenture A/c}& \text{Dr.}& 75,000& \\ \text{To }12\%\text{ Debentures A/c}& & & 5,00,000\\ \text{To Premium on Redemption of Debenture A/c}& & & 50,000\end{array}$$
Based on this entry, the debentures have been issued at a discount rate of:

An issue of Rs. $1,00,000$, $9\%$ debentures of Rs. $100$ each is made at a discount of $15\%$ but redeemable at a premium of $5\%$. The amount debited to the "Loss on Issue of Debentures Account" is:

If a delay occurs beyond $8$ days in refunding the subscription amount, failing to gather the minimum subscription, from the date of closure of the subscription list, the company shall be liable for interest at the rate of:

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

Under which sub-head in the balance sheet does the balance of the share forfeiture account appear?

Consider the following statements regarding a joint-stock company:(A) A company's shares are generally freely transferable.(B) Shareholders of a company are personally liable for the acts of the company.(C) The director of a company must always be a shareholder.(D) Paid-up capital can exceed called-up capital.Note: This question was dropped from the official key due to errors in statement designs. Let's evaluate the correct conceptual stance.

As per the Companies Act, 2013, in general, the maximum time gap specified between two annual general meetings of a company is:

Choose the correct statement :-

ABC Ltd. issued $3,000$, $14\%$ Debentures of $\text{Rs. }100$ each at a discount of $5\%$ on April 1, 2023. What is the total discount amount on the issue of these debentures?

Match List-I with List-IIList-I (TYPES OF COMPANY)List-II (CHARACTERISTICS)(A) unlimited company(I) liability arises only in the event of winding up(B) one person company(III) paid up capital is not more than 50 lakhs (historical limit threshold)(C) private company(II) limits the number of members to 200(D) company limited by guarantee(IV) creditors can claim their dues from the membersChoose the correct answer from the options given below:

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:

Raj Ltd. was registered with $70,000$ equity shares. They issued $40,000$ equity shares @ $10$ each payable as follow :On Application Rs. $4$ per shareOn Allotment Rs. $3$ per shareand Balance on $2$ callsThe issue was over subscribed by $50,000$ shares. The directors decided upon making prorata allotment to $60,000$ shares while remaining were returned.The maximum amount that can be called up on the first call by the company is :

Calculate the amount of yearly interest payable on $9\%$ debentures ($10,000$ debentures of Rs. $100$) issued as collateral security.

What are different types of debentures from the view point of registration A. ConvertibleB. BearerC. RedeemableD. SecuredE. Registered Choose the correct answer from the options given below:

What is the correct sequence of types of capital in company's Balance sheet while preparing notes to accounts.A. Issued CapitalB. Subscribed and fully paid up capitalC. Share forfeited BalanceD. Authorised CapitalE. Subscribed but not fully paid up capital Choose the correct answer from the options given below:

Raj Ltd. was registered with $70,000$ equity shares. They issued $40,000$ equity shares @ $10$ each payable as follow :On Application Rs. $4$ per shareOn Allotment Rs. $3$ per shareand Balance on $2$ callsThe issue was over subscribed by $50,000$ shares. The directors decided upon making prorata allotment to $60,000$ shares while remaining were returned.Amount to be returned to the applicants due to non-allotment of shares will be :

Blue Prints Ltd. purchased a building worth Rs. $1,50,000$, Machinery worth Rs. $1,40,000$ and Furniture worth Rs. $10,000$ from XYZ Co. and took over its liabilities of Rs. $20,000$ for a purchase consideration of Rs. $3,15,000$.Calculate the Goodwill/Capital Reserve to be recorded by Blue Print Ltd.

Identify the correct sequence of steps in the process of the Issue of Shares:A. Making allotment of sharesB. Issue of ProspectusC. Forfeiture of sharesD. Receiving applications for sharesE. Making callsChoose the correct answer from the options given below:

A company can accept calls in advance, if authorised by:

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