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CBSE Class 12 Notes 2022 : Accountancy

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4 Accounting for Companies Issue of Shares Select the Best Multiple Choice Questions Alternate and tally your answer with the Answers end of Chapter: given at the (i) Meaning and Characteristics of a Company Q. 1. A company has . . (A) Separate Legal Entity (B) Perpetual Existence (C) Limited Liability (D) All of the Above Q.2. Shareholders are (A) Customers of the Company (C) Creditors of the Company Q.3. Who are the real owners (A) Government (C) Equity shareholders (B) Owners of the Company (D) None of these of a company'? (B) Board of Directors (D) Debentureholders Q. 4. A Company is created by (A) Special act of the Parliament (C) Investors (B) Companies Act (D) Members Q.5. An artificial person created by Law is called (A) Sole Tradership (B) Partnership Firm (C) Company (D) All of the Above Q.6. The liability of members in a Company is: (A) Limited (B) Unlimited C) Stable (D) Fluctuating Q.7. Liability of a shareholder is limited to ... him. (A) Paid up Value (C) Face value ... of the shares allotted to (B) Called up value (D) Reserve Price Q. 8. Maximum number of members in a private company is (A) 7 (C) 20 (B) 200 (D) No Limit ACCOUNTING Nature and i)Meaning FOR COMPANIES ISSUE OF SHAES Types of Shares 0.9. Capital of a Company is divided in units which is called (A) Debenture (B) Share (D) Bond (C) Stock 0.10. Shareholders receive lrom the company (A) Interest (B) Commission (C) Profit (D) Dividend 0. 11. Equity shares cannot be issued for the purpose of: (A) Cash Receipts (C) Redemption of debentures Q.12. A Company may issue. (B) Purchase of assets (D) Distribution of dividend ****** (A) Equity Shares (B) Preference Shares (C) Equity and Preference both shares (D) None of the Above HOTS Q. 13. A company cannot issue: (A) Redeemable Equity Shares (C) Redeemable Debentures (B) Redeemable Preference Shares (D) Fully Convertible Debentures Q.14. To whom dividend is given at a fixed rate in a company? (A) To equity shareholders C) To debentureholders (B) To preference shareholders (D) To promoters Q.15. Preference shareholders have (A) Preferential right as to dividend only (B) Preferential right in the management (C) Preferential right as to repayment of capital at the time of liquidation of the company (D) Preferential right as to dividend and repayment of capital at the time of liquidation of the company Q. 16. The shares on which there is no any pre-fixed rate of dividend is decided, but the rate of dividend is fluctuating every year according to the availability of profits, such share are called: (A) (B) (C) (D) Equity Share Non-cumulative preference share Non-convertible preference share Non-guaranteed preference share .17. Preference shares, in case the holders of these have a right to convert their preference shares into equity shares at their option according to the terms of issue, such shares are called OF SHAES ACCOUNTING FOR COMPANIES- ISSUE - 42 - (B) Non-cumulative Preference s Share (D) Non-convertible Preference ce e Share (A) Cumulative Preference Share (C) Convertible Preference Share Q. 18. A preference share which does not carry the right of sharing in surple is called. profits Share (A) Non-Cumulative Preference Share (B) Non-participating Preference (C) Irredeemable Preference Share Share (D) Non-convertible Preference Q. 19. Which shareholders have a right to receive the arrears of dividend from fiu. ruture protits (A) Redeemable Preference Shares Preference Shares (B) Participating (C) (D) Q. 20. Cumulative Preference Shares Non-Cumulative Preference Which shareholders are Shares specified time: (B) Irredeemable Preference Shares (D) Participating Preference Shares returned their capital after some (A) Redeemable Preference Shares (C) Cumulative Preference Shares HOTS Q.21. The following statements apply to equity/preference shareholders. Which one of them applies only to preference shareholders? (A) Shareholders risk the loss of investment (B) Shareholders bear the risk of no dividends in the event of losses (C) Shareholders usually have the right to vote (D) Dividends are usually given at a set amount in every financial year. HOTS Q.22. Unless otherwise stated, a preference share is always deemed to be : (A) Cumulative, participating and non-convertible (B) Non-cumulative, non-participating and non-convetible (C) Cumulative, non-participating and non-convertible (D) Non-cumulative, participating and non-convertible iin) Meaning, Nature and Types of Share Capital Q. 23. Nominal Share Capital is. ** * ****'**** (A) that part of authorised capital which is issued by the company (B) the amount of capital which is actually applied by the prospectve shareholders (C) the amount of capital which is actually paid by the shareholders (D) the maximum amount of share issue to capital which a company is authoriseu (C.B.S.E. 2020, Kolkata, Luckno ACCOUNTINGFOR COMP'ANIES- ISSUE OF SITAES O.4. Subseribed capial is: (A) That part of authorised capital which is issued to the public for subseription (B) That prart of issucd capital which has been actually subscribed by the publie (C) That part of subseribed capital which has been called up on the shares. (D) That part of subseribed capital which has not yet been called up on the shares. (C.B.SE. 2020, Rujasthun) 0.25. The portion ofthe capital which can be called-up only on the winding up of the Company is called... (A) Authorised Capital (B) Called up Capital (C) Uncalled Capital (D) Reserve Capital 0. 26. Capital included in the Total of Balance Sheet ofa Company is called: (A) Issued Capital (B) Subscribed Capital (D) Authorised Capital C) Called up Capital Q.27. (A) (B) (C) (D) ... is transferred to Capital Reserve. Profit from sale of fixed assets Premium on issue of shares Profit on forfeiture of shares All of the Above Q.28. Reserve Capital isalsoknown by: (A) Capital Reserve (B) Called up Capital (C) Subscribed Capital (D) None of the above Q.29. Reserve Capital is: (A) Subscribed Capital (B) Capital Reserve (C) Uncalled Capital (D) Part of the uncalled capital which may be called only at the time of liquidation of the Company Q.30. Which of the following statements does not relate to 'Reserve Capital": (A) It is part of uncalled capital ofa company. (B) It cannot be used during the lifetime of a company. C) It can be used for writing off capital losses. (D) It is part of subseribed capital. (C.B.S.E. 2020, Mumbai, Chemai) Q.31. In the Balance Sheet of a company, under the heading share capital, at the last isshown (A) Authorised Share Capital (C) Issued Share Capital (B) Subscribed Share Capital (D) Reserve Share Capital ACCOUNTING FOR COMPANIES- ISSUE OF SHAES 44 Q.32. Which ofthe lollowing is not shown under the heading "Share Capital' ina Balance Sheet (A) Subseribed Capital (B) Issued Capital (C) Reserve Capital (D) Authorised Capital Q. 33. Reserve Capital is a part of (A) Paid-up Capital (B) Forfeited Share Capital (C) Assets (D) Capital to be called up only on Iliquidation of company HOTS Q. 34. Which of the following statements is true? (A) Authorised Capital = Issued Capital (B) Authorised Capital > Issued Capital C) Paid up Capital > Issued Capital (D) None ofthe above Q.35. Authorised Capital of a Company is mentioned in (A) Memorandum of Association (B) Articles of Association (C) Prospectus (D) Statement in lieu of Prospectus Q. 36. In case of private placement of shares, the lock in period is (A) 1 Year (B) 2 Years (C) 3 Years (D) None of the above Q. 37. In case of private placement of shares and company does not invite the general public for subscription of shares in that case, company instead of issuing prospectus (A) Prepares the statement in lieu of prospectus (B) Prepares the Report C) Prepares the Budget (D) Prepares the Asset side of Balance Sheet Q.38. In case of private placement of shares, to raise the amount of capital a company (A) invites the public through prospectus (B) does not invite the public C) invites the public through advertisement (D) invites the public through memorandum of association Q.39. Shares issued by a company to its employees or directors in consideration of Intellectual Property Rights' are called: (A) Right Equity Shares (B) Private Equity Shares (C) Sweat Equity Shares (D) Bonus Equity Shares ACCOUNTING 45 (iv) Iss and Allotnment of Shares 0.40. A Company may issue FOR COMPANIES- ISSUE OF SHAES theshares: (A) By Private Placement of Shares (B) By Public Subseription of Shares (C) For Consideration other than cash (D) By All of the Above 0.41. Public subscription of shares include: (A) To Issue Prospectus (C) To Make Allotment (B) To Receive Applications (D) All of the Above Q.42. Which ofthefollowing will define, when appropriation of a certain nunber of shares is made to an applicant in response to his application? (A) Share allotment (B) Share forfeiture (C) Share trading (D) Share Purchase Q. 43. Issue of shares at a price lower than its face value is called: (A) Issue at a Loss (C) Issue at a Discount (B) Issue at a Profit (D) Issue at a Premium Q. 44. According to SEBI Guidelines, Minimum Subscription has been fixed at . of the issued amount. (A) 25% (C) 90% (B) 50% (D) 100% Q.45. One ofthe conditions, in addition to others, for allotment of shares is : (A) Resolution in General Meeting (B) Receiving Minimum Subscription (C) Full Subscription by Public (D) Full Payment on Application Q. 46. Persons who start a company are called (A) Shareholders (B) Directors (C) Promoters (D) Auditors Q. 47. Minimum subscription amount of 90%% is related to which share capital: (A) Authorised Capital C) Paid up Capital (B) Issued Capital (D) Reserve Capital Q. 48. Share Application Account is in the nature of (A) Real Account (B) Personal Account C) Nominal Account (D) None of the above Q. 49. As per SEBI Guidelines, Application money should not be less than ... ..... of the issue price of each share. (A) 10% (B) 15% (C) 25% (D) 50% Q.50. 4,000 Equity Shares of 710 each were issued at 8% premium to the promoters of a company for their services. Which account will be debited? (A) Share Capital Account ACCOUNTING FOR COOMPANIES- ISSUE OF SHAES Cost (B) Goodwill Account/lncorporation (C) Securities Premium Reserve Account Account (D) Cash Account Q.51. Excess value of'net assets over purchase consideration at the time ofpur purehase of business is (A) Credited to the Capital Reserve. (B) Debited to the Goodwill Account. (C) Credited to the General Reserve Account. (C.B.S.E. 2020, Rajasthan (D) Credited to the Vendor's Account. Q. 52. If vendors are issued fully paid shares of R1,25,000 in consi assets ofR1,50,000, the balance of 25,000 will be credited to: (A) Statement of Profit & Loss (B) Goodwill Account (C) Security Premium Reserve Account (D) Capital Reserve Account an Q. 53. Issue of shares at a price higher than its face value is called: (A) Issue at a Profit (C) Issue at a Discount (B) Issue at a Premium (D) Issue at a Loss Q. 54. On issue of shares Premium is (A) Profit (C) Revenue Receipt (B) Income (D) Capital Profit HOTS Q.55. Which of the following is not a capital profit? (A) Profit prior to incorporation of the company (B) Profit from the sale of fixed assets (C) Premium on issue of shares (D) Compensation received on the termination of a contract Q. 56. Maximum limit of Premium on shares is: (A) 5% (C) No Limit (B) 10% (D) 100% Q.57. When a company issues shares at a premium, the amount ofpremium should be received by the company (A) Along with application money C) Along with calls (B) Along with allotment money (D) Along with any of the above Q.58. Amount of securities premium can be utilised for: (A) Writing off the preliminary expenses of the company (B) Issuing bonus shares to the shareholders of the company (C) Buy-back of its own shares (D) All of the above Q. 59. For what purpose securities premium reserve account cannot be util1zea: (A) Amortization of preliminary expenses ACCOUNTING FOR COMPANIES ISSUE OF SHAES (B) Distribution of dividend (C) Issue of fully paid bonus shares (D) Buy Back of own shares hich 60. Whic of the following is not a purpose for which the Securities Premium amount can be used? (A) Issuing fully paid bonus shares to shareholders. (B) Issuing partly paid up bonus shares to shareholders. (C) Writing off preliminary expenses of the company. (D) In purchasing its owm shares (buy back) (C.B.S.E. 2020, Punjab) the issue ofshares should be shown 0.61. Premium on (A) On the Assets side of balance sheet (B) On the Equity & Liabilities side of balance sheet (C) In profit & loss Statement (D) None of the Above 0.62. A Company issued 50,000 shares of F20 each at 5% premium. R10 were payable on application and balance on allotment. What will be the allotment amount? (A) T5,00,000 (C) T5,50,000 (B) R4,75,000 (D) T5,25,000 Q. 63. Interest on calls in arrears is charged according to Table F at (A) 6% p.a. (C) 5% p.a. (B) 10% p.a. (D) 12% p.a. Q.64. Amount of Calls in Arrears is shown in the Balance Sheet (A) as deduction from issued capital (B) as deduction from subscribed capital (C) as addition to subscribed capital T .65. e assets side p Table F, the Company is required to pay..********* **.. interest on the amount of calls in advance. (A) 12% p.a. (C) 10% p.a. (B) 5% p.a. (D) 6% p.a. Q.66. Amount of Calls in Advance is (A) Added to Share Capital (B) Deducted from Share Capital (C) Shown on the Assets side (D) Shown on the Equity & Liabilities side Q.67. First call amount received in advance from the shareholders before it is actually called up by the directors is ACCOUNTING FOR COMPANIES- ISSUE OF SIIAES Applications were received for 8,000 shares. Allotment was made on on nro pro-rata How much amount vill be received in cash on allotment? (A) 2.50,000 (C) I,30,000 (B) 1,20,000 (D) T50,000 Q.81. A Company purchased a building for R3,60,000 and issued as paymenteqit shares at 20% premium. Journal Entry will be : Dr. (A) Building Ale 4,00,000 To Share Capital A/e 3,20,000 To Securities Premium Reserve A/c 80,000 (B) Share Capital A/ To Building A/c To Securities Premium Reserve A/c Dr. (C) Building Alc Dr. 4,00,000 3,60,000 40,000 3,60,000 To Share Capital A/c To Securities Premium Reserve A/c (D) Building A/c To Share Capital A/c To Securities Premium Reserve A/c 3,00,000 60,000 Dr. 3,60,000 60,000 3,00,000 Q.82. A Company purchased a Building for {12,00,000 out of which 2,00,000o were paid in cash. Balance amount was paid by issue of equity shares of R10 each at 25% premium. How many shares will be issued by the Company? (A) 1,00,000 Shares (B) 80,000 Shares (C) 1,20,000 Shares (D) 96,000 Shares Q.83. If shares of 4,00,000 are issued for purchase of assets of R5,00,000, T1,00,000 will be treated as ... (A) Discount C) Profit (B) Premium (D) Loss Q. 84. A Building was purchased for 79,00,000 and payment was made in F100 shares at 20% premium. Securities Premium Reserve A/c will be . . (A) Debited by 1,50,000 (B) Credited by F1,50,000 (C) Debited by T1,80,000 (D) Credited by 71,80,000 Q. 85. A company purchased machinery for F1,80,000 and in consideration issued shares at 20% premium. What will be the face value ofshares issued (A) F1,50,000 (C) 71,80,000 (B) 1,44,000 (D) 2,16,000 (v) Forfeiture of Shares Q.86. Forfeiture ofshares results in the reduction of: (A) Subscribed Capital (B) Authorised Capital C) Reserve Capital (D) Fixed Assets ACCOUNTINGFOR COMPANIES ISSUF O SAPS heh one of the tollowing items is not a part of subscribed capital (B) Preference Shares (D) Bonus Shares Aquity Shares ()ForfetedShares A the time of forteiture of shares the share s netum of shares for cancellation the Premium on by the shareholders is called (B) Forfeiture A Cancellation ofshares CSumender of shares 90. 1f debited with (D) Issued value Paid up value Voluntan account is (B) Called up value A) Facevalue ) capital (D) None of these the forfeited shares has already been received, then Securities Premium Ac should be: (B) Debited (D) None of these A) Credited C) No treatment HOTS 0.91. Balance of head share forfeiture account is shown in the balance sheet under the ****** (A) Share Capital Account (B) Reserve and Surplus C) Current Liabilities and Provisions (D) Unsecured Loans share of T10 the company has called up R8 but 76 have been received by the company is forfeited, the capital account should be debited Q.92. On an equity by (A) R10 C)6 (B)8 (D) 2 0.93. Ifa share of 10 issued at a premium of R3 on which the full amount has been called and 8 (including premium) paid is forfeited the eapital account should bedebited with (A) 5 (B)8 (C) T10 (D) 713 Q.94. If a share of 710 issued at a premium of l on which ?9 (including premium) have been called and 7 including premium is paid is forfeited. the capital account should be debited by : (A) 10 (B)7 (C)78 (D)9 Q.95. 600 shares of 10 cach were forfeited for non-payment of R2 per shure on lirst call and 5 per share on final call. Share Forfeiture Account will be credited with: (A) 1,200 (C) 3,000 B) 1,800 (D) R4,200 Q.96. 800 shares of 10 each issucd at 20% premium were lorfeited for non-payment of allotment money of ?5 (ineluding premium) and tirst & tinal ol R per share. Share Forfeiture Account will be eredited with: ACCOUNTING FOR COMPANIES- ISSUE OF SHAES (A) I,600 (C) 73.200 52 - (B) F2,400 (D) 74,800 be paid on allotment) Wero ere shares of 710 each issued at 30% premium (to Q.97. 800 forfeited for non-payment of T2 per share on first call and 2 per share credited final call. Share Forfeiture Account will be (A) 2,400 (C) F3,200 Q.98. on with: (B) T4,800 (D)7,200 R8 per share called up. on Company forfeited 300 shares of F10 each, which X had paid application and allotment money of R6 per share. Share A on re Forfeiture Account will be credited with: (A) F 600 (C) F1,200 (B) 1,800 (D) 2,400 Q.99. On 300 equity shares of 710 the company has called up R8 but F6 have been received by the company are forfeited, the forfeiture account should he credited by: (A) F2,400 (B) R1,200 (C)R1,800 (D) F 600 Q. 100. If 400 shares of R10 issued at a premium of T3 on which the full amount has been called and 8 (including premium) have been received are forfeited, the forfeiture account should be credited with (A) 73,200 (C) F1,200 (B) F2,000 (D) F2,800 Q. 101. If s00 shares of R10 issued at a premium of 71 on which 9 (including premium) have been called and R7 including premium have been paid are forfeited, the forfeiture account should be credited by (A) 3,000 (B) T3,500 (C) 74,000 (D) R4,500 Q. 102. A Company forfeited the following shares 200 shares of R10 each; called up F9 per share, paid-up {7 per share. Journal Entry for forfeiture will be): (A) Share Capital A/c Dr. To Share Forfeiture A/c To Calls in Arrears A/c (B) Share Capital A/c 200 1,800 Dr. To Share Forfeiture Alc To Calls in Arrears A/c (C) Share Capital Ac To Share Forfeiture Ac To Calls in Arrears Alc (D) Share Capital A/c To Share Forfeiture A/c To Calls in Arrears A/c 2,000 2,000 1,80 208 Dr. 1,800 1,40 Dr. 1,800 1,40 ACCOUNTING FOR COMPANIESISSUE OF SHAES Q. LId. 103. NLd forfeited 500 shares of ?7 each, called up, issued at ner share to be paid at the R10 time of premium of allotment for a of 2 per share. Entry (A) Share Capital A/c Dr. Securities Premium Reserve A/c Dr. To Share First Call A/c To non-payment forfeiture will be on of first call 3,500 1,000 Share Forfeiture A/c 1,000 3,500 (B) Share Capital A/c Securities Premium Reserve To Share First Call A/c To Share Forfeiture A/c Dr. Dr. A/c 1,000 4.500 (C) Share Capital ANc To Share First Call Ac To Share Forfeiture Ae Dr. Dr. To Share First Call A/c To Share Forfeiture A/c on 4,500 1,000 3,500 (D) Share Capital A/e 0. 104. The amount of discount ,500 1,000 3,500 1,000 2,500 reissue of forfeited shares cannot exceed (A) 5% of the face value (B) 10% of the face value (C) The amount received on forfeited shares (D) The amount not received on forfeited shares Q. 105. Discount allowed on re-issue of forfeited shares is debited to (A) Share Capital A/c (B) Share forfeiture A/c (C) Statement of Profit & Loss (D) General Reserve A/c Q. 106. The balance of the forfeited shares transferred to (A) Statement of Profit& Loss (C) Capital Reserve A/c account after re-issue of forfeited shares is (B) Share Capital A/c (D) General Reserve Alc Q.107. XLid. forfeited 500 shares of 10 each fully called up for non-payment of final call of 73 per share 300 of these shares were reissued at F9 per share. fully paid up. What is the amount to be transferred to Capital Reserve Account? (A) F3,500 (C) 3,200 (B) R2.100 (D) F1,800 Q.108. YLtd. forfeited 400 shares of 10 each, 7 called up, for non-payment of call of 2 per share. Out of these, 300 shares were reissued for R6 per sharefirst as 7 paid up. What is the amount to be transferred to Reserve Account? Capital (A) 1,700 (B) F1,200 (C) 2,100 (D)7 300 .109. 400 shares of T10, on which 8 has been called and 75 has been paid, are forfeited. Out of these, 300 shares are re-issued for 9 as fully paid. What is ACCOUNTING FOR COMPANIES- ISSUE OF SHAES (B) 300 A)P400 (D) 7600 C)s00 .123. Using information Forfeiture Account (A)R1400 given in Q. 117. what is the net balance left in Shar. (B)I.500 D) 1.000 (C)900 Q.124. P Lid. forfeited 150 shares of R10 each, issued at a premium of 72, for non-paynent of the tinal call of 3. Out of these. 100 shares were re-issued at I l per share. How much amount would be transferred to capital reserve? (A)700 (B) 7500 (C)1.200 (D) 7300 HOTS Q.125. N7 Limited issued 2.50.000 equity shares of R 10 cach at a premium of ] each pay able as 2.5 on application, 74 on allotment and balance on the first and final call. Applications were received for 5,00,000 equity shares but the company allotted to them only 2.50,000 shares. Excess money was applied towards amount due on allotment. Last call on 500 shares was not received forfeited after due notice. This is (A) Over subseription (B) Pro-rata allotment (C) Forfeiture of Shares and shares were a case of D) All of the above Q.126. Metacaf Ltd. issued 50,000 shares of T100 each payable F20 on application (on Ist May 2012); R30 on allotment (on 1st January 2013); F20 on first call (on Ist July 2013) and the balance on final call (on Ist February 2014 Shankar, a shareholder holding 5,000 shares did not pay the tirst call on the due date. The second call was made and Shankar paid the first call amount along with the second call. All sums due were received. Total amount received on 1st February was (A) I5,00,000 (B) 16.00,000 (C)10,00.000 (D) 711.00,000 C.B.S.E. Sample Paper. 2015 Q.127. Harish Ltd. forfeited 500 shares of R100 each issued at 40% premium 70 called up) on which application & allotment of t80 each (including has been received. Out of these. 200 shares were reissued for Ro5 per share premium R70 paid up). What is the amount to be transferred to Capital Reserve? (A) 15,000 (C)7 2.000 (B) 74.500 (D) 7,000 Q. 128. A Company forfeited 1.000 shares of R10 each fully paid on which 77,000 has been paid. Out of these 800 shares were reissued upon payment of R7,600. Amount transferred to Capital Reserve will be : (A) R6,600 (C)75,200 (B) 79.000 (D) 7,600 ACCOUNTING FOR COMPANIES- ISSUE OF SHAES ,0 1000 shares of RI0 each issued at 30% .1 premium (to be paid on were forfeited for non-payment of R2 per share on first call and 2 allotment) --- --. final cal. Share Forfeiture Account will be per share credited with (A) R3,000 (B) 6,000 (C) R4,000 (D) 9,000 130. Raja Ltd. forfeited 300 shares of 7100 each, F75 called up, for non-payment of first call of 20 per share. All these shares were reissued for share as 75 paid up. If transferred to Capital Reserve is 40.... per amount then what is the per share on reissue (A) 55 per share price? (B) 745 per share (D) 740 per share C) 60 per share 0.131. Pragya Ltd. forfeited 8,000 equity shares of 100 each issued 10% for at a non-payment of first and final call of R30 per share. Thepremium of maximum amount of discount at which these shares can be reissued will be: (A) F80,000 (C) 75,60,000 0. (B) 73,20,000 (D) 2,40,000 C.B.S.E. 2020, Kolkata, Lucknow) 132. The directors of Axim Ltd. forfeited 20,000 equity shares of T10 each, 78 share called up for non-payment of first call of 72 per share. Final call of per 72 per share has not been yet called. Half of the forfeited shares fully paid up for T15 per share. The amount transferred to will be: (A) R2,00,000 (C) R60,000 were reissued Capital as Reserve (B) 1,20,000 (D) R40,000 (C.B.S.E. 2020, Kolkata, Lucknow) 0. 133. On forfeiture of 100 shares of F50 each, R2,500 were credited to share forfeited account. These shares were re-issued at {25 per share The amount credited to 'Capital Reserve Account' willbe : fully paid up. (A) R2,500 (B) 75,000 (D) F3,000 (C) No amount (C.B.S.E. 2020, Kerala) 1. D Answer of Multiple Choice 2. B 6 A T. 11. D 16. 3. C 4. C 8. B 12. C 13. A 17. C 21. D 22. 26. B 31. 36. Questions B S. B B 10. D A 9 14 15. D 18. B 19. C 20. A C 23. D 24. B 25 D 27. D 28. D 29. D B 30. C 32. C 33. D 34. B 35. A C 37. A 38. B 39. C 40. D

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