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Accountancy Test - 5
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  • Question 1/10
    5 / -1
    Interest payable on debentures is
  • Question 2/10
    5 / -1
    When all the debentures are redeemed, the balance left in the debenture sinking fund account is transferable to 
  • Question 3/10
    5 / -1
    When shares are issued for purchase of assets, which is the correct entry for issue of shares at par ? 
  • Question 4/10
    5 / -1
    X Limited issued 50,000 equity shares of ₹10 each on a premium of ₹5 per share. The amount was payable as follows: On application ₹2 per share, on allotment ₹7 per share, and remaining on the first and final call. All the shares were subscribed and the amount was duly received. Identify the correct option regarding the amount received on the first and final call by the company.
  • Question 5/10
    5 / -1
    When shares are undersubscribed below the minimum subscription, which of the following is done?
  • Question 6/10
    5 / -1
    The following amounts were payable on the issue of shares by a company: Rs. 3 on the application, Rs. 3 on the allotment, Rs. 2 on the first call, and Rs. 2 on the final call. X holding 500 shares paid only application and allotment money, whereas Y holding 400 shares did not pay a final call. The amount of calls-in-arrear will be:
  • Question 7/10
    5 / -1
    On forfeiture, the amount so far paid by the shareholder is forfeited is credited to _____
  • Question 8/10
    5 / -1
    E Ltd. had allotted 10,000 shares to the application of 14,000 shares on a pro-rata basis. The amount payable on the application is Rs. 2. F applied for 420 shares. The number of shares allotted and the amount carried forward for adjustment against allotment money due from F is?
  • Question 9/10
    5 / -1
    When a company issues shares at a premium, the amount of premium may be received by the company:
  • Question 10/10
    5 / -1
    Loss on issue of debentures is recorded as a:
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