MCQ REVISION

A and B are partners sharing profits in the ratio of 3:2. They decided to share future profits equally. Workmen compensation claim arised at Rs 35000. Amount of WCR credited to A's capital is Rs 6000. The amount of WCR in the books before claim was

• 45000

• 25000

• 10000

• None of the above

The company forfeited 50 shares of Rs 10 each on which Rs 6 per share was paid. Final call of Rs 2 per share was not yet called. 40 shares were reissued at Rs 360. The amount transfered to capital reserve is

• 240

• 200

• 280

• None of the above

The company forfeited 10 shares of Rs 10 each on which Rs 4 per share was paid. State the maximum discount at which 8 shares can be reissued.

• 48

• 32

• 80

• 40

A Company forfeited 60 shares of Rs 10 each on which Rs 7 per share was paid. State the minimum amount at which each share can be reissued

• 7

• 3

• 10

• 6

The Goodwill brought by new partner is distributed among partners in which ratio :

• Old

• New

• Sacrifice

• Gain

Debt equity ratio of the company is 3:2. Which of the following will increase the ratio

• Issue of Equity shares

• Redemption of debentures

• Convertion of debentures into shares

• Issue of Debentures

Which of the following leads to inflow of cash

• Deposited into bank

• Sale of marketable securities

• Issue of shares

• Depreciation on machinery

A, B and C are partners sharing profits in the ratio of 5:3:2. The firm earned a profit of Rs 50000. A is guaranteed for a minimum profit due to which C had to sacrifice Rs 2000 from his capital . A was guaranteed a minimum profit of ____ in a year

• 25000

• 30000

• 45000

• 10000

Share application account is a ______account

• Real

• Nominal

• Personal

• Asset

A company issued 20,000 9% debentures of Rs 100 each at a premium of 10% to a vendor for purchase of a businss comprising of some assets and liabilities of Rs 5,00,000 at capital reserve of Rs 40,000. The assets purchased were Rs ___

• 7,60,000

• 7,20,000

• 7,40,000

• 7,00,000