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Question : S  Ltd. issued 40,000 Shares of  Rs. 10 each, for  Rs. 12 each payable as under:

On application  Rs. 2 per share, on allotment  Rs. 5 per share (including premium), on first call  Rs. 2 per share and on second and final call  Rs. 3 per share.

Applications were received for 60,000 shares. Allotment was made on pro rata basis to the applicants for 48,000 shares, remaining applications being refused. Money overpaid on application was applied towards amount due on allotment.

A, to whom 1,600 shares were allotted, failed to pay the allotment money and B, to whom 2,000 shares were allotted, failed to pay two calls. These were subsequently forfeited after the second and final call.

Question:- At the time of forfeiture of shares, share forfeited account will be credited _______.

Option 1: Rs. 13,840

Option 2: Rs. 10,000

Option 3: Rs. 11,600

Option 4: None of these

Team Careers360 23rd Jan, 2024

Correct Answer: Rs. 13,840


Solution : Answer = Rs. 13,840

Equity Share Capital A/c   Dr.           16,000

Securities Premium A/c     Dr.            3,200

      To Share Forfeiture A/c                                      3,840

      To Equity Share Allotment A/c                            7,360

       To Equity Share first Call A/c                             3,200

       To Equity Share Second and Final Call A/c       4,800

(1,600 shares held by Ram forfeited for the non-payment amount due including premium)

Equity Share Capital A/c      Dr.          20,000

        To Equity Share Forfeiture A/c                         10,000

        To Equity Share First Call A/c                           4,000

        To Equity Share Second and Final Call A/c      6,000

(2,000 shares held by Shyam forfeited for non-payment of amount due)


Therefore, the total amount credited to the Share Forfeiture A/c  = Rs.3,840 + Rs.10,000 = Rs.13,840.
Hence, the correct option is 1.

24 Views

Question : To provide employment to the youth and to develop Baramula district of Jammu and Kashmir, Jyoti Power Ltd. decided to set up a power plant. For raising funds the company decided to issue 8,50,000 equity shares of  Rs. 10 each at a premium of  Rs. 3 per share. The whole amount was payable on application. Applications for Rs. 20,00,000 shares were received. Applications for 3,00,000 shares were rejected and shares were allotted to the remaining applicants on a pro-rata basis.

Question:- Calculate the amount of share capital that will be credited by:

Option 1: Rs. 85,00,000

Option 2: Rs. 99,50,000

Option 3: Rs. 1,10,50,000

Option 4: Rs. 2,60,00,000

Team Careers360 19th Jan, 2024

Correct Answer: Rs. 85,00,000


Solution : Answer = Rs. 85,00,000

In the Books of Jyoti Power Ltd.

JOURNAL

Date

Particulars

L.F.

Dr. ( Rs.)

Cr.( Rs.)

 

Bank A/c

...Dr.

 

2,60,00,000

 
 

To Equity Shares Application and Allotment A/c (Application and allotment money received on 20,00,000 shares of  Rs. 10 each @  Rs. 13 per share)

     

2,60,00,000

 

Equity Shares Application and Allotment A/c

...Dr.

 

2,60,00,000

 
 

To Equity Share Capital A/c (8,50,000 x  Rs. 10)

To Securities Premium Reserve A/c (8,50,000 x  Rs. 3)

To Bank A/c (11,50,000 x Rs. 13)

(Application and allotment money adjusted for 8,50,000 shares and the balance refunded)

     

85,00,000

25,50,000

1,49,50,000

Hence, the correct option is 1.
23 Views

Question :

A company invited applications for 50,000 Equity Shares of  Rs. 10 each payable as follows:

On application Rs. 3; on allotment Rs. 3; on first and final call Rs. 4.

Applications were received for 1,10,000 shares. It was decided

(i) to refuse allotment to the applicants for 10,000 shares,

(ii) to allot 50% to X who has applied for 20,000 shares,

(iii) to allot in full to Y who has applied for 10,000 shares,

(iv) to allot balance of the available shares on pro-rata basis among the other applicants, and

(v) to utilise excess application money in part payment of allotment and final call.

Question:- The amount adjusted against allotment will be:

Option 1:

Rs. 1,50,000

 

Option 2: Rs. 1,20,000

Option 3: Rs. 1,80,000

Option 4: Rs. 1,00,000

Team Careers360 4th Jan, 2024

Correct Answer: Rs. 1,20,000


Solution :

Answer = Rs. 1,20,000

STATEMENT SHOWING DETAILS OF SHARES APPLICATION MONEY

Categories

Shares

Shares

Application

Disposal of Shares Application Money Received

 

Applied

Allotted

Money

Share

Shares

Calls-in-

Refund

     

Received

Capital

Allotment

Advance

 
     

Rs.

Rs.

Rs.

Rs.

Rs.

1 (Rejected)

10,000

NIL

30,000

     

30,000

     

(10,000 x Rs.3)

       

II X

20,000

10,000

60,000

30,000

30,000

   
     

(20,000 x  Rs. 3)

(10,000 x  Rs. 3)

(10,000 x Rs. 3)

   

III Y

10,000

10,000

30,000

30,000

     
     

(10,000 x  Rs. 3)

(10,000 x Rs. 3)

     

IV (Prorata)

70,000

30,000

2,10,000

90,000

90,000

30,000

 
 

(Bal.Fig.)

(Bal.Fig.)

(70,000 x  Rs. 3)

(30,000 x  Rs. 3)

(30,000 x  Rs. 3)

(2,10,000

 
           

- 90,000 - 90,000)

 

Total

1,10,000

50,000

3,30,000

1,50,000

1,20,000

30,000

30,000


Hence, the correct option is 2.
21 Views

Question :  

 In the following passage, some blanks are given and against each blank five alternative words are suggested. Choose the correct alternative to complete the passage in a meaningful way.

Meanwhile in technical ________________ (1) the “Cloud” may be called as the combination of computing resources over a network, popularly, “Cloud” has come to mark and encompass the complete range of sructures that make online activity possible, from facebook to netflix to Google Drive. Like a fluffly ________________ (2) moving across a wide and clear blue sky, not forming a particular shape or form, the Cloud of the digital is elusive, its internal working seems complex to the public, an example of what MIT cybernetician Norbert Weiner once called a “black box.” But like the clouds above us, however shapelss or ________________ (3) they may seem to be, are in fact made of matter, the Cloud of the digital is also perpetually material.

To get at the matter of the Cloud we must ________________ (4) the coils of coaxial cables, fiber optic tubes, cellular towers, air conditioners, power distribution units, transformers, water pipes, computer servers, and more.  We must be aware of its  material flow of electricity, water, air, heat, metals, minerals, and all the earth elements that ________________ (5) our digital lives. By this we can say that cloud is not only material but is also an ecologicak force. As it continues to ________________ (6), its impact on the environment is also increasing, even as entire workforce from engineers to technicians, and executives behind its formation aspire to balance profitability with sustainability.

Nowhere is this ________________ (7) more visible than in the walls of the infrastructures where the content of the Cloud lives: the factory-libraries where data is stored and computational power is pooled to keep our cloud applications ________________ (8).

Q. Choose the correct alternative for blank 4

Option 1: Divulge
 

Option 2: Beleaguer

Option 3:  Unravel
 

Option 4: Defrayed

Team Careers360 14th Jan, 2024

Correct Answer:  Unravel
 


Solution : The correct answer is option 3.

Explanation:

The only word that will fit the blank and make the sentence coherent is unravel.

Unravel: research and solve or explain (something complicated or puzzling).

Divulge: reveal (private or sensitive information).

Beleaguer:  cause problems or difficulties for

Defrayed: provided money to pay (a cost or expense).

29 Views

Question : A company invited applications for 50,000 Equity Shares of Rs. 10 each payable as follows:

On application Rs. 3; on allotment Rs. 3; on first and final call Rs. 4.

Applications were received for 1,10,000 shares. It was decided

(i) to refuse allotment to the applicants for 10,000 shares,

(ii) to allot 50% to X who has applied for 20,000 shares,

(iii) to allot in full to Y who has applied for 10,000 shares,

(iv) to allot balance of the available shares on pro rata basis among the other applicants, and

(v) to utilise excess application money in part payment of allotment and final call.

Question:- The amount that the company will transfer to call in advance

Option 1: Rs. 60,000

Option 2: Rs. 30,000

Option 3: Rs. 1,50,000

Option 4: None of these

Team Careers360 20th Jan, 2024

Correct Answer: Rs. 30,000


Solution : Answer = Rs. 30,000

STATEMENT SHOWING DETAILS OF SHARES APPLICATION MONEY

Categories

Shares

Shares

Application

Disposal of Shares Application Money Received

 

Applied

Allotted

Money

Share

Shares

Calls-in-

Refund

     

Received

Capital

Allotment

Advance

 
     

Rs.

Rs.

Rs.

Rs.

Rs.

1 (Rejected)

10,000

NIL

30,000

     

30,000

     

(10,000 x Rs.3)

       

II X

20,000

10,000

60,000

30,000

30,000

   
     

(20,000 x  Rs. 3)

(10,000 x  Rs. 3)

(10,000 x Rs. 3)

   

III Y

10,000

10,000

30,000

30,000

     
     

(10,000 x  Rs. 3)

(10,000 x Rs. 3)

     

IV (Prorata)

70,000

30,000

2,10,000

90,000

90,000

30,000

 
 

(Bal.Fig.)

(Bal.Fig.)

(70,000 x  Rs. 3)

(30,000 x  Rs. 3)

(30,000 x  Rs. 3)

(2,10,000

 
           

- 90,000 - 90,000)

 

Total

1,10,000

50,000

3,30,000

1,50,000

1,20,000

30,000

30,000

Hence, the correct option is 2.

138 Views

Question : S  Ltd. issued 40,000 Shares of  Rs. 10 each, for  Rs. 12 each payable as under:

On application  Rs. 2 per share, on allotment  Rs. 5 per share (including premium), on first call  Rs. 2 per share and on second and final call  Rs. 3 per share.

Applications were received for 60,000 shares. Allotment was made on pro rata basis to the applicants for 48,000 shares, remaining applications being refused. Money overpaid on application was applied towards amount due on allotment.

A, to whom 1,600 shares were allotted, failed to pay the allotment money and B, to whom 2,000 shares were allotted, failed to pay two calls. These were subsequently forfeited after the second and final call.

Question:- At the time of forfeiture of shares, share forfeited account will be credited _______.

Option 1: Rs. 13,840

Option 2: Rs. 10,000

Option 3: Rs. 11,600

Option 4: None of these

Team Careers360 20th Jan, 2024

Correct Answer: Rs. 13,840


Solution : Answer = Rs. 13,840

Equity Share Capital A/c   Dr.           16,000

Securities Premium A/c     Dr.            3,200

      To Share Forfeiture A/c                                      3,840

      To Equity Share Allotment A/c                            7,360

       To Equity Share first Call A/c                             3,200

       To Equity Share Second and Final Call A/c       4,800

(1,600 shares held by Ram forfeited for the non-payment amount due including premium)

Equity Share Capital A/c      Dr.          20,000

        To Equity Share Forfeiture A/c                         10,000

        To Equity Share First Call A/c                           4,000

        To Equity Share Second and Final Call A/c      6,000

(2,000 shares held by Shyam forfeited for non-payment of amount due)


Therefore, the total amount credited to the Share Forfeiture A/c  = Rs.3,840 + Rs.10,000 = Rs.13,840.
Hence, the correct option is 1.

7 Views

Question : CRM in the context of software applications means:

Option 1: Customer's Relatives Meet

Option 2: Channel Route Market

Option 3: Customer Relationship Management

Option 4: Customer Retention Manager

Team Careers360 11th Jan, 2024

Correct Answer: Customer Relationship Management


Solution : The correct option is Customer Relationship Management.

CRM stands for "Customer Relationship Management" in the context of software applications. CRM refers to a class of software tools and solutions that assist organisations in managing and improving their interactions and connections with customers and potential customers. CRM software often serves as a centralised platform for gathering, storing and analysing customer data and interactions.

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