WorksheetsAccounting for issue of shares
Total questions: 18
Worksheet time: 9mins
Figure out the Order -
1. Issued Capital
2. Subscribed Capital
3. Authorised Capital
4. Paid Up Capital
5. Called Up Capital
2, 3, 5, 1, 4
2, 1, 3, 5, 4
3, 1, 2, 5, 4
3, 2, 1, 4, 5
When a company receives share application money, the entry will be-
Debit Bank a/c ; Credit Share Capital a/c
Debit Share Capital a/c ; Credit Bank a/c
Debit Application a/c ; Credit Bank a/c
Debit Bank a/c ; Credit Share Application a/c
Tara Ltd. issued 120,000 shares. The issued was subscribed for 110,000 shares. This is a case of ______.
Full Subscription of Shares
Undersubscription of Shares
Oversubscription of Shares
What is the minimum amount of shares that has to be subscribed in an IPO? (Initial Public Offer)
95%
90%
100%
80%
Ralph Ltd. issued 150,000 shares at Rs. 10 per share with a premium of Rs. 2 per share payable Rs. 3 on application, Rs. 5 on allotment (including premium) and balance on the first call. Applications were received for 120,000 shares. Calculate the amount received by Ralph Ltd. on application.
Rs. 450,000
Rs. 750,000
Rs. 600,000
Rs. 360,000
Ralph Ltd. issued 150,000 shares at Rs. 10 per share with a premium of Rs. 2 per share payable Rs. 3 on application, Rs. 5 on allotment (including premium) and balance on the first call. Applications were received for 120,000 shares. Calculate the amount received by Ralph Ltd. on application.
Rs. 450,000
Rs. 750,000
Rs. 600,000
Rs. 360,000
Which format of the Financial Statements is followed by companies today?
Schedule II of the Companies Act, 2013
Schedule III of the Companies Act, 1956
Schedule II of the Companies Act, 1956
Schedule III of the Companies Act, 2013
When Shares are issued at a premium, the same will be credited to ________ a/c.
Share Capital
To the Particular Call
Securities Premium
Capital Reserve
share application a/c Dr
to share capital
what does this entry mean ?
Receipt of application money
refund of application money
transfer of application money
share application a/c....................Dr
To share capital a/c
To Bank a/c
applications totally refused for allotment
applications rejected in full and making Pro-rata allotment to the rest
applications are made partial allotment
Which of the following capital is not shown in the company’s Balance Sheet
`
Authorised capital
Issued &subscribed capital
Called-up & paid up-capital
Reserve capital
Shares Application &Allotment A/c is a:-
Personal
Real
Nominal
The portion of authorized capital which can be called up only on the liquidation of the company :-
Authorised capital
Reserve capital
Issued capital
Called up capital
When the shares are issued for consideration other than cash which account will be debited
Securities Premium
Capital Reserve A/c
Vendor A/c
Share Capital A/c
ltd company took over assets worth Rs. 10,00,000 and liabilities of Rs. 3,00,000 for purchase consideration worth Rs. 12,00,000 how much amount will be debited to goodwill account
Rs. 10,00,000
Rs. 5,00,000
Rs. 3,00,000
Rs. 12,00,000
A Company allotted 20,000 shares to applicants of 50,000 shares after rejecting 10,000 applications. The ratio in which company allotted the share will be
5:2
5:3
2:1
3:1
A Co. has issued 6,000 equity shares of. Rs. 10 each at par and called up amount Rs. 6 per share. The remaining part of capital is termed as
Called up Capital
Paid up Capital
uncalled Capital
Subscribed Capital
Amount of discount given at the time of reissue of shares should be debited to :
Shares Capital
Discount on Shares
Share Forfeiture A/c
Calls-In-Areas A/c
