Company Accounts Quiz

Share Allotment a/c is a/an:

• Expense a/c

• Asset a/c

• Liability a/c

• Income a/c

Balance in Shares Forfeited a/c is shown in the Balance Sheet under the head of:

• Reserves and Surplus

• Long Term Borrowings

• Share Capital

• Other Current Liabilities

Shares can be forfeited for:

• Non - payment of call money

• Failure to attend meetings

• Failure to repay the loan to the bank

• All of these

Profit on Reissue of Forfeited Shares is tranferred to -

(a)  

Gama Chemicals Ltd. is a newly formed company. How much discount per share can it allow for issuing the shares to the public?

• 6%

• 10%

• 5%

• None of these

At what rate of interest on Calls in Advance may be paid by a company according to Table F of Schedule I of the Companies Act, 2013?

• 10%

• 12%

• 10% p.a.

• 12% p.a.

D Ltd. invited applications for issuing 10,00,000 equity shares of Rs. 10 each. The public applied for 8,55,000 shares. Can the company proceed for the allotment of shares? Give reason in support of your answer.

(a)  

Give any one purpose for which the amount received as securities premium may be utilised?

(a)  

ESOP can be abbreviated as -

(a)  

Who can issue shares through private placement?

• Public Company

• Private Company

• Both Public and Private Company

• Company issuing ESOPs

• Promoters