Accountancy

Debenture holders are ____________of the Company

• Debtors

• Creditors

• Customers

• Owners

Liability of a shareholder is limited to ___________ of the shares allotted

• Paid up value

• Called up value

• Face value

• Reserve price

The part of the capital which can be called-up only in case of winding up of the Company is called ___________

• Authorised Capital

• Called up Capital

• Uncalled Capital

• Reserve Capital

The shares which are issued above the face value is called _________

• Issue at a loss

• Issue at a profit.

• Issue at a premium

• Issue at a discount

Following amounts were payable on issue of shares by a Abtech Ltd. Rs.20 on application, Rs. 40 on allotment.

Rs. 20 on first call and Rs. 20 on final call. Raj holding 1,000 shares paid only application and allotment money whereas James holding 800 shares did not pay

final call. Amount of calls in arrears will be________.

• 42,000

• 56,000

• 72,000

• 66,000

A Company purchased a building for Rs. 7, 20,000 and issued as payment equity shares at 20% premium.

Journal Entry will be _______________

• Share Capital a/c Dr................ 8,00,000

  To Building a/c …................................................ 7,20,000

  To Securities Premium a/c ….............................. . 80,000

• Building a/c Dr................ 8,00,000

  To Share Capital a/c …............................................... 6,40,000

  To Securities Premium a/c …...................................... 1,20,000

• Share Capital a/c Dr................ 7,20,000

  To Building a/c …................................................ 7,00,000

  To Securities Premium a/c ….............................. 20,000

• Building a/c Dr................ 7,20,000

  To Share Capital a/c …............................................... 6,00,000

  To Securities Premium a/c …..................................... 1,20,000

When a company issues Debentures as collateral security, it will debit __________

• Bank Account

• Bank Loan Account

• Debentures Suspense Account

• Debentures Account

If Vendors are issued debentures of

Rs. 2,40,000 in consideration of

net assets of Rs. 3,00,000 then the balance of Rs. 60,000 will be transferred to __________

• Statement of Profit & Loss

• Capital Reserve Account

• Goodwill Account

• General Reserve Account

Following is not a right of a shareholder ____________

• To receive a dividend declared by the company

• To attend and vote a meetings

• To manage Company's affairs

• To receive the company's accounts

The Shareholders' gets dividends, Debenture holders will get __________

• Interest

• Fees

• Commission

• Bonus