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

Question : SK Ltd. invited applications for 3,20,000 equity shares of  Rs. 10 each at a premium of  Rs. 5 per share. The amount was payable as follows:

On application— Rs. 3 per share (including premium  Rs. 1 per share),

On allotment— Rs. 5 per share (including premium  Rs. 2 per share),

On first and final call—Balance.

Applications for 4,00,000 shares were received. Applications for 40,000 shares were rejected and application money refunded. Shares were allotted on pro rata basis to the remaining applicants. Excess money received with applications was adjusted towards sums due on allotment. Jeevan holding 800 shares failed to pay the allotment money and his shares were immediately forfeited. Afterwards, final call was made. Ganesh who had applied for 2,700 shares failed to pay the final call. His shares were also forfeited. Out of the forfeited shares, 1,500 shares were reissued at  Rs. 8 per share fully paid-up. The reissued shares included all the forfeited shares of Jeevan

Question:- At the time of forfeiture of 800 shares, share capital account will be debited with _______.

Option 1: Rs. 4,000

Option 2: Rs. 8,000

Option 3: Rs. 4,800

Option 4: None of these

Question :

X Ltd. invited applications for 50,000 shares of Rs.10 each at 10% premium, payable on Rs.3 on application, Rs.3 on allotment and balance amount on first and final call Applications were received for 1,20,000 shares and shares were allotted on pro-rata basis The excess money received on application was to be adjusted against allotment only. A shareholder who applied for 6,000 shares, could not pay the call money and his shares were accordingly forfeited.

Question:- Money Received on application is _____.

Option 1: Rs. 1,50,000

Option 2: Rs. 1,20,000

Option 3: Rs. 3,60,000

Option 4: Rs. 2,10,000

Question : SK Ltd. invited applications for 3,20,000 equity shares of  Rs. 10 each at a premium of  Rs. 5 per share. The amount was payable as follows:

On application— Rs. 3 per share (including premium  Rs. 1 per share),

On allotment— Rs. 5 per share (including premium  Rs. 2 per share),

On first and final call—Balance.

Applications for 4,00,000 shares were received. Applications for 40,000 shares were rejected and application money refunded. Shares were allotted on pro rata basis to the remaining applicants. Excess money received with applications was adjusted towards sums due on allotment. Jeevan holding 800 shares failed to pay the allotment money and his shares were immediately forfeited. Afterwards, final call was made. Ganesh who had applied for 2,700 shares failed to pay the final call. His shares were also forfeited. Out of the forfeited shares, 1,500 shares were reissued at  Rs. 8 per share fully paid-up. The reissued shares included all the forfeited shares of Jeevan

Question:- At the time of forfeiture of 800 shares, share capital account will be debited with _______.

Option 1: Rs. 4,000

Option 2: Rs. 8,000

Option 3: Rs. 4,800

Option 4: None of these

Question : Good Co. Ltd. invited applications for 1,00,000 shares of  Rs. 10 each payable:

 Rs. 3 on application,  Rs. 3 on allotment and the balance when required.
Applications were received for 1,20,000 shares out of which applications for 1,00,000 shares were accepted and the remaining applications were rejected. Allotment money was received on 99,500 shares. 

 On the basis of the above information, choose the correct option to the following question 

Question:-  Amount received on allotment will be:

Option 1: Rs. 99,500

Option 2: Rs. 2,98,500

Option 3: Rs. 3,00,000

Option 4: Rs. 2,99,500

Question :

Good Co. Ltd. invited applications for 1,00,000 shares of  Rs. 10 each payable:
Rs. 3 on application, Rs. 3 on allotment and the balance when required. Applications were received for 1,20,000 shares out of which applications for 1,00,000 shares were accepted and the remaining applications were rejected. Allotment money was received for 99,500 shares. 

On the basis of the above information, choose the correct option to the following question.

Question:-  Amount refunded will be ____________.

Option 1: Rs. 80,000

Option 2: Rs. 60,000

Option 3: Rs. 2,00,000

Option 4: None of theses

Question : Which of the following statements is true?

Option 1: Cash Flow Statement shows inflows and outflows of Cash and Cash Equivalents.

Option 2: Cash Flow Statement gives information about sources and applications of Cash and Cash Equivalents for a specific period.

Option 3: It helps in planning investments and assessing the financial requirements of the enterprise.

Option 4: All of the above

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 pro-rata basis.

Question:-  Amount to be refunded:

Option 1: Rs. 25,50,000

Option 2: Rs. 1,49,50,000

Option 3: Rs. 65,00,000

Option 4: None of these

Question : A company invited applications for 5,00,000 shares and received applications for 6,00,000 shares. Applications for 1,00,000 shares were rejected and the remaining shares were allotted to applicants. How many shares an applicant apply for 500 shares will be allotted?

Option 1: 200 Shares

Option 2: 500 Shares

Option 3: 400 Shares

Option 4: 600 Shares

Question : X Ltd. invited applications for 50,000 shares of Rs.10 each at 10% premium, payable on Rs.3 on application, Rs.3 on allotment and balance amount on first and final call Applications were received for 1,20,000 shares and shares were allotted on pro-rata basis The excess money received on application was to be adjusted against allotment only. A shareholder who applied for 6,000 shares, could not pay the call money and his shares were accordingly forfeited.

Question:- At the time of allotment of shares, share capital will be credited with _______.

Option 1: Rs. 3,60,000

Option 2: Rs. 1,50,000

Option 3: Rs. 2,10,000

Option 4: None of these