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WorksheetsCA Inter C-2 redemption of Preference Shares and Issue of Bo
Total questions: 15
Worksheet time: 9mins
Which of the following is methods of redemption of preference shares
By Fresh issue of shares
Capitalisation of undistributed profits
Combination of (a) and (b)
all of the above
Redemption of Preference Shares is governed by which section of Companies Act 2013
Section 45
Section 55
Section 56
None of these
Securities premium cannot be used to
Issue bonus shares
Redeem preference Shares
Write off Preliminary expenses
None of these
S Ltd. issued 2,000 10 % Preference shares of Rs. 100 each at par on 1.4.20X1, which are redeemable at a premium of 10 %. For the purpose of redemption, the company issued 1,500 Equity Shares of Rs. 100 each at a premium of 20 % per share. At the time of redemption of preference shares, the amount to be transferred by the company to the Capital Redemption Reserve account =
Rs. 50,000
Rs. 40,000
Rs. 200,000
None of these
Which of the following cannot be used for the purpose of creation of capital redemption reserve account ?
Profit and loss accounts (Credit balance)
General reserve account
unclaimed dividend Account
None of these
Which of the following statement is true?
Capital Redemption reserve cannot be used for writing off miscellaneous expenses and losses
Capital profit realized in cash cannot be used for payment of dividend
Reserves created by revaluation of fixed assets are not permitted to be capitalized.
None of these
In Q.1 of test what is the proceed from new issue of shares to be used for redemption of preference shares
200,000
250,000
300,000
None of these
In Q.1 of the test amount to be transferred to Capital redemption reserve
100,000
50,000
Nil
None of these
In Q.1 of the test 14% Debentures shall also be part of proceed of fresh issue
True
False
What rubbish
None of these
Which of the following section of Companies Act 2013 deals with issue of fully paid bonus shares
36
26
63
None of these
In Q.2 of test amount for issue of Bonus shares shall be issued and amount to be used from Capital redemption reserve A/c ?
15,000
30,000
55,000
None of these
In Q.2 of test amount for issue of Bonus shares shall be issued and amount to be used from Securities Premium A/c ?
15,000
30,000
55,000
None of these
In Q.2 of test amount for issue of Bonus shares shall be issued and amount to be used from General reserve A/c ?
15,000
30,000
55,000
None of these
Which of the following statement is true in case of bonus shares ?
Convertible debenture holders will get bonus shares in same proportion as to the existing shareholders
Bonus shares may be issued to convertible debenture holders at the time of conversion of such debentures into shares
Both (a) and (b)
None of these
The bonus issue is not made unless
Partly paid shares are made fully paid up
It is provided in its articles of association
Both (a) and (b)
None of these
