New ! Accountancy MCQ Practise Tests



Company Accounts 3 Mark Creative Question Paper With Answer Key

12th Standard

    Reg.No. :
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Accountancy

Time : 01:00:00 Hrs
Total Marks : 27

    3 Marks

    9 x 3 = 27
  1. What are the characteristics of a company?

  2. Explains the divisions of share capital.

  3. Write a short note on
    (i) Public issue
    (ii) Private placement

  4. Write a short note on
    (i) Rights issue
    (ii) Bonus issue

  5. If what purpose securities Premium Reserve Amount is used?

  6. Aruna Mills Ltd. with a registered capital of Rs. 5,00,000 in equity shares of Rs.10 each, issued 40,000 of such shares payable as follows: 
    Rs.3 per each on applicatimis, Rs.5 per share on allotment and Rs.2 per share on first and final call. The issue was duly subscribed. All the money payable was suly received. But one share holder 1000 shares paid the first and final call money on allotment itself. Give journal entries for allotment. 

  7. A company forfeited 200 shares of, 20 each Rs.15 per share called up on which Rs.10 per share had been paid. Directors reissued all the forfeited shares @ Rs.15 share paid up for the payment of each.Give the journal Entries.

  8. Global Ltd issued·6,000 shares of Rs.100/- each at Premium of Rs. 20 per share payable as follows.
    Rs.30 on Application
    Rs.50 on Allotment  including premium) 
    Rs.30 on First call and 
    Rs.10 on Final call.
    All shares were duly subscribed and money due were received. Pass Journal Entries.

  9. Sun Ltd offered for Subscription 20,000 shares of 10/- each payable.
    Rs.2.50 on Application
    Rs.5 on Allotment
    Rs.3 on First call
    Rs.On final call
    Application were received for 30,000 shares. Application for 5,000 shares was rejected application money for other 5,000 shares were applied towards the amount due on allotment. Pass Journal entries. 

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