Accounting for issue of shares

Quiz
•
Other
•
12th Grade
•
Medium
Shaista Begum
Used 297+ times
FREE Resource
18 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
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
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
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
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
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
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the minimum amount of shares that has to be subscribed in an IPO? (Initial Public Offer)
95%
90%
100%
80%
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
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
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
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
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
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
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