Ques.1 True/False:

According to the below given information the final call per share is Rs.22.   

 The subscribed capital of a company is Rs. 80,00,000 and the nominal value of the share is Rs.100 each. There were no calls in arrear till the final call was made . The final call made was paid on 77,500 shares only . The balance in the calls in arrear amounted to Rs.55,000.

Ques.2 True/ False :

Securities premium received on issue of shares cannot be used for the purpose of buy back of shares.

Ques.3 True/False-Share application amount is in the nature of Real account

Ques.4 Revaluation Account is a ------------ Account

Ques.5 Maximum limit of premium on shares is :

Ques.6 Amount of money not received out of called up capital is :

Ques.7 Following amounts were payable on issue of shares by a company : Rs.3 on application ,Rs.3 on allotment , Rs.2 on first call and Rs.2 on final call . X holding  500 shares paid only application and allotment money  whereas Y holding 400shares did not pay final call . Amount of calls in arrear will be:

Ques.8 Rajan Limited issued 50,000 shares at a price lower than the nominal value of the share. The shares issued are called:

Ques.9 E Ltd. had allotted 10,000 shares to the applicants of 14,000 shares on pro-rata basis, application money on another  6000 shares  was refunded .The amount payable on the application was Rs.2. Sitaraman applied for 420 shares . The number of shares allotted to him will be

Ques.10 A company issued 4,000 equity shares of rupees 10 each at par payable as under:

On application rupees 3 , on allotment rupees 2; on first call rupees 4 and on final call rupees 1 per share. Applicants were received for 16,000 share . Application for 6,000 shares were rejected and  pro-rata allotment was made to the applicants for 10,000 shares . How much amount will be received in cash on first call, when excess application money is adjusted towards amount due on allotments and calls:

Ques.11 A company issued 4000equity shares of rupees 50 each at par payable as under:

On application rupees 20%, on allotment 40%; on first call 10% ; on final call -balance

Applications were received for 10,000 shares. Allotment was made pro-rata . How much amount will be received in cash on allotment?

Ques.12. Which one of the following is not a part of subscribed capital:

Ques.13. When nominal (face) value of a share is called up by the company but as some shareholders did not pay the money, the shares are forfeited . The share capital is shown in the balance sheet (notes) of a company under the following heading:

Ques.14.Zee Ltd issued 15,000 equity shares of Rs.20 each at a premium of Rs.5 payable Rs.5 on application,Rs.10 on allotment (including premium) and the balance on first and final call. The company received applications for 22,500 shares and allotment was made prorata. Bittoo to whom 1,200 shares were allotted, failed to pay the amount due on allotment. All his shares were forfeited after the call was made. The forfeited shares were reissued to Dheeraj at par. Assuming that no other bank transactions took place, the bank balance of the company after the above transactions is :

Ques.15.Zen Ltd purchased the sundry assets of M/s Surat Industries for  Rs.28,60,000 payable in fully paid shares ofRs.100 each. State the number of shares issued to vendor when issued at premium of 10%.

Ques.16.The subscribed share capital of Mukand Ltd is Rs.1,00,00,000 of Rs.100 each. There were no calls in arrear till the final call was made. The final call made was paid on 97,500 shares. The calls in arrear amounted to Rs.87,500.The final call on share :

Ques.17. These shares which in addition to the fixed preference dividend, carry a right to participate in the surplus profits, if any, after dividend at a stipulated rate has been paid to the equity share holders are called:

Ques.18.T Ltd had allotted 20,000 shares to the applicants of 24,000 shares on pro rata basis. The amount payable on application is Rs.2. Manoranjan applied for 450 shares. The number of shares allotted and the amount carried forward for adjustment against allotment money due from him is

Ques.19.A company forfeited 3,000 shares of Rs.10 each(which were issued at par) held by Kishore for nonpayment of allotment money of Rs.5 per share. The called up value per share was Rs.8.On forfeiture, the amount debited to share capital:

Ques.20. Z limited issued shares of Rs.100each at a premium of 10%. Mr. Q purchased 500 shares and paid Rs.20 on application but did not pay the allotment money of Rs.30. If the company forfeited his 30% shares, the forfeiture account will be credited by :