Company Accounts
Commerce ⇒ Accountancy
Company Accounts starts at 12 and continues till grade 12.
QuestionsToday has an evolving set of questions to continuously challenge students so that their knowledge grows in Company Accounts.
How you perform is determined by your score and the time you take.
When you play a quiz, your answers are evaluated in concept instead of actual words and definitions used.
See sample questions for grade 12
A company issued 5,000 shares of ₹10 each at par. The entire amount was payable on application. All shares were subscribed and money received. Pass the journal entry for receipt of application money.
Define 'debenture' as per the Companies Act, 2013.
Explain the accounting treatment for interest on calls in advance.
Explain the difference between equity shares and preference shares.
Explain the term 'bonus shares'.
Explain the term 'pro-rata allotment'.
If a company receives applications for 15,000 shares but only 10,000 shares are issued, what is this situation called?
A company forfeited 200 shares of ₹10 each, ₹8 called up, for non-payment of first and final call of ₹3 per share. These shares were reissued at ₹7 per share as fully paid. Calculate the amount transferred to Capital Reserve.
A company issued 1,000 shares of ₹10 each at a premium of ₹2 per share. The entire amount was received except the premium on 100 shares. What amount will be shown as 'Calls in Arrears'?
A company issued 5,000 shares of ₹10 each at par. The entire amount was payable on application. All shares were subscribed and money received. Pass the journal entry for receipt of application money.
What is the maximum rate of interest that can be paid on calls in advance as per Table F of the Companies Act, 2013? (1) 5% p.a. (2) 6% p.a. (3) 8% p.a. (4) 10% p.a.
What is the minimum application money to be received as per SEBI guidelines? (1) 5% of nominal value (2) 10% of nominal value (3) 25% of nominal value (4) 50% of nominal value
Which of the following is not a component of 'Shareholders' Funds'? (1) Share Capital (2) Reserves and Surplus (3) Debentures (4) Money received against share warrants
Which of the following is not a feature of preference shares? (1) Fixed rate of dividend (2) Preferential right to repayment of capital (3) Voting rights (4) Priority in payment of dividend
The amount received in advance from shareholders before it is actually called up by the company is known as ________.
The part of capital which has been called up by the company is known as ________ capital.
Debentures can be issued at a discount. True or False?
Interest on debentures is paid even if there are no profits. Yes or No?
Shares can be issued at a discount as per the Companies Act, 2013. True or False?
Shares can be issued for consideration other than cash. Yes or No?
