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प्रश्न
Give one word/term/phrase for the following statement.
Issue of share at its face value
उत्तर
Issue at par.
APPEARS IN
संबंधित प्रश्न
Scooters India Ltd' is registered with an authorized capital of Rs 50,00,000, divided into 5,00,000 shares of Rs 10 each. The company issued 1, 00,000 shares for subscriptions to the public at par. The amount was payable as follows :
On application and allotment - Rs 3 per share
On 1st call - Rs 2 per share
On 2nd and final call - Rs 5 per share
The issue was fully subscribed. All calls were made and were duly received except 2nd and the final call on 1,000 shares held by Rohan. His shares were forfeited and afterwards re-issued at Rs 8 per share as fully paid up. Present 'Share Capital' in the Balance Sheet of the company as per Schedule VI of the Companies Act, 1956. Also, prepare Notes to accounts for the same.
'India Auto Ltd.' is registered with an authorised capital of Rs 7,00,00,000 divided into 7,00,000 shares Rs 100 each. The company issued 50,000 shares to the vendor for building purchased and 2,00,000 shares were issued to the public. The amount was payable as follows :
On application and allotment — Rs 20 per share
On the first call — Rs 50 per share
On second and final call — The balance
All calls were made and were duly received except on 100 shares held by Rajani, who failed to pay the second and final call. Her shares were forfeited.
Present the 'Share Capital' in the Balance Sheet of the company as per Schedule VI Part I of the
Companies Act, 1956. Also, prepare 'Notes to Accounts'.
'David Ltd.' issued `40, 00,000 equity shares of Rs 10 each out of its registered capital of Rs 10,00,00,000. The amount payable on these shares was as follows :
On application - Rs 1 per share
On allotment - Rs 2 per share
On the first call - Rs 3 per share
On second and final call - Rs 4 per share
All calls were made and were duly received, except the second and final call on 1,000 shares held by Vipul. These shares were forfeited.
Present the 'Share Capital' in the Balance Sheet of the company as per Schedule VI Part I of the Companies Act, 1956. Also, prepare 'Notes to Accounts'.
Deepak, Farukh and Lilly were partners in a firm sharing profits in the ratio of 3:2:1. On 28.2.2015 Farukh retired from the firm. On Farukh's retirement, there was a balance of `12,000 in Workmen's Compensation Reserve which was no more required. On Farukh's retirement this amount will be :
(a) Debited to the Capital accounts of all the partners in their profit sharing ratio.
(b) Credited to the Capital accounts of all the partners in their profit sharing ratio.
(c) Credited to the Capital accounts of Deepak and Lilly in their profit sharing ratio.
(d) Credited to the Capital account of Farukh.
On 1st April 2012, Mayank Ltd. was formed with an authorised capital of Rs 25,00,000 divided into 50,000 equity shares of Rs 50 each. The company issued a prospectus inviting applications for 45,000 shares. The issue price was payable as under :
On Application: Rs 15
On Allotment: Rs 20
On Call: Balance amount
The issue was fully subscribed and the company allotted shares to all the applicants. The company did not make the call during the year. Show the following:
(a) Share capital in the Balance Sheet of the company as per revised Schedule-VI, Part-I of the Companies Act, 1956.
(b) Also, prepare 'Notes to Accounts' for the same.
Present the share capital in the Balance Sheet of the company as per the provisions of Schedule III of the Companies Act, 2013. Also, identify any two values that the company wishes to propagate.
Y Ltd. forteited 100 equity shares of Rs 10 each for the non-payment of first call of Rs 2 per share. The final call of Rs 2 per share was yet to be made.
XXL Ltd. converted its 500, 9% debentures of Rs 100 each issued at a dsicount of 8% into equity shares of Rs 10 each issued at a premium of 25%. Discount on issue of debentures has not yet been written off.
Showing your workings clearly pass necessary Journal Entries on conversion of 9% debentures into equity shares.
'Payment and Receipt of interest and dividend' is classified as which type of activity while preparing cash flow statement?
Reena and Raman are partners in a firm sharing profits in the ratio of 4 : 3. They admitted Roma as a new partner. The new profit sharing ratio between Reena, Raman and Roma was 3: 2: 2. Raman surrendered `1/3rd `of his share in favour of Roma. Calculate Reena's sacrifice.
Suman and Sudha were partners in a firm sharing profits equally. Their fixed capitals were Rs 50,000 and Rs 25,000 respectively. The partnership deed provided interest on capital at the rate of 12% per annum. For the year ended 31stMarch, 2016, the profits of the firm were distributed without providing interest on capital.
Pass necessary adjustment entry to rectify the error.
Y Ltd. invited applications for issuing 2000, 9% debentures of Rs 100 each at a discount of 10%. The whole amount was payable at the time of application. Applications for 2400 debentures were received and pro-rata allotment was made to all the applicants.
Pass necessary journal entries for the issue of debentures.
List the categories of individuals other than the minors who cannot become the members of a partnership firm
Share forfeited balance is transferred to Capital Reserve Account.
The liability of shareholder in Joint Stock Company is _________.
The unpaid amount on allotment and calls may be transferred to _____________ account.
Give one word/term/phrase for the following statement.
The capital which is subscribed by the public.
Give one word/term/phrase for the following statement.
The shares on which dividend is not fixed.
Give one word/term/phrase for the following statement.
The part of subscribed capital which is not called-up by the company.
State true or false with reason.
Face value of shares and market value of shares is always same.
State true or false with reason.
Sweat shares are issued to public.
State whether you agree or disagree with following statement:
In case of Pro-rata allotment the excess application money received must be refunded.
State whether you agree or disagree with following statement.
Calls in Advance account is shown on the Asset side of the Balance sheet.
State whether you agree or disagree with following statement:
When the issued price of share is ₹ 12 and face value is ₹ 10, the share is said to be issued at premium.
Answer in one sentence only.
When are shares allotted on pro-rata basis?
Answer in one sentence only.
What is Calls-in-Arrears?
Answer in one sentence only.
What is Paid-up Capital?
The difference between Called-up Capital and Paid-up Capital is known as ___________.
____________ shareholders are the real owners of the company.
__________ form of business organisation in which Capital is raised through the issue of shares.
___________ Capital is the part of issued capital which is subscribed by the public.
The part of Authorised Capital which is not issued to the public is known as ___________ Capital.
10000 equity shares of ₹ 10 each issued at 10% premium. Calculate the total amount of share premium.
Company sends Regret letter for 100 shares and Allotment letter to 25000 shareholders. Application money was ₹ 20 per share. Calculate the amount of application money which company is refunding.
Anand Company Limited issued 1,00,000 Preference shares of ? 10 each payable as - On
On Application ₹ 4
On Allotment ₹ 3
On First call ₹ 2
On Second and Final call ₹ 1
Company received application for all these share and received all money.
Pass Journal Entries in the books of Anand Company Ltd.
Sucheta Company Limited issued ₹ 20,00,000 new capital divided into ₹ 100 equity shares at a Premium of ₹ 20 per share payable as ₹ 10 on Application ₹ 40 on Allotment and ₹ 10 premium ₹ 50 on Final call and ₹ 10 premium.
The issue was oversubscribed to the extent of 26000 equity shares. The applicants on 2000 shares were sent letter of regret and their application money was refunded. Remaining applicants were alloted share on pro-rata basis. All the money due on Allotment and Final call was duly received.
Make necessary Journal entries in the books of Sucheta Company Ltd.
In which of the following situation Companies Act 2013 allows for issue of shares at discount?
1000 shares issued @10% Premium considering face value for ₹ 10/- Calculate Premium.
Alankrit Ltd. offered for public 10,000 equity shares of ₹ 10 each at a premium of ₹ 12/- per share payable as under:
- On Application - ₹ 4
- On Allotment - ₹ 4 (including premium)
- On First & Final Call- Balance Amount
Company received all the money. The issue was fully subscribed. Give Journal Entries to record above transactions and also show in balance sheet.
Ganesh draws a bill for ₹ 40,000 on 15th January, 2020 for 2 months. He discounted the bill with Bank of India @ 15% p.a. on the same day. Calculate the amount of discount.
Sameer and Company Limited invited applications for 25,000 Equity shares of ₹ 100 each payable as:
₹ 25 on application
₹ 50 on allotment
₹ 25 on first and final call
Applications were received for 30,000 Equity shares and pro-rata allotment were made to all. All the money was duly received except first and final call on 2,500 Equity shares. Enter the above transactions in the books of Sameer and Company Limited.
Mukund Ltd. invited applications for issuing 50,000 equity shares of ₹ 10 each at 10% premium. The amount per share was payable as follows: ₹ 3 on application, ₹ 3 (including premium) 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 to all the applicants. The excess money received on application was adjusted towards sums due on allotment only. Application money in excess to sums due on allotment was refunded. A shareholder who had applied for 6,000 shares, could not pay the call money and his shares were forfeited.
Pass necessary Journal entries for the above transactions in the books of Mukund Ltd.
Which of the following statements is true?
Unnati Ltd. was registered with an authorised capital of ₹ 80,00,000 divided into equity shares of ₹ 10 each. The company issued a prospectus inviting applications for 60,000 equity shares. The company received applications for 58,000 equity shares. All calls were made and were duly received except the second and final call of ₹ 3 per share on 3,000 shares held by Manit. These shares were forfeited.
- Present the share capital in the Balance Sheet of the company as per Schedule III, Part I of the Companies Act, 2013.
- Also prepare "Notes to Accounts" for the same.
The Directors of Rockstar Ltd. invited applications for 2,00,000 Shares of ₹ 10 each, issued at 20% premium. Share was payable as ₹ 5 on application, ₹ 4 (including premium) on allotment and balance on call. Public had applied for 3,20,000 shares out of which applications for 20,000 shares were rejected and remaining were alloted on pro-rata basis.
Simba, an applicant of 15,000 shares failed to pay allotment and call money. His shares were forfeited and out of these 6,000 shares were reissued at a discount of ₹ 2 per share. Journalise.
Shaktimaan Ltd. invited applications for issuing 1,00,000 Shares of ₹ 10 each at a premium of ₹ 2 per share. The amount was payable as ₹ 4 on application (including premium); ₹ 5 on Allotment and balance on call. Applications were received shares for 1,80,000 of which Applications for 30,000 shares were rejected and remaining applicants were allotted on pro-rata basis. Manthan, holding 5,000 shares failed to pay call money and his shares were forfeited. Out of these 2,000 shares were re-issued at premium of ₹ 3 per share. Prepare Cash Book and pass necessary entries.
Aniket Company Limited issued ₹ 40,00,000 new capital divided into ₹ 100 per equity share at a premium of ₹ 20 per share payable as ₹ 10 on Application, on Allotment ₹ 40 and ₹ 10 premium and on Final call ₹ 50 and ₹ 10 premium. The issue was over-subscribed to the extent of 50,000 equity shares. The applicants on 5,000 shares were sent letter of regret and their application money was refunded. Remaining applicants were allotted shares on pro-rata basis. All the money due on Allotment and Final call was only received. Make necessary journal entries in the books of Aniket Company Limited.
Parth Company Limited was registered with an authorised capital of ₹ 30,00,000 divided into 3,00,000 equity shares of ₹ 10 each. Company issued 2,00,000 equity shares of ₹ 10 each at a premium of ₹ 2 per share. Company received applications for 1,60,000 equity shares and were allotted the shares.
Company received application money ₹ 3 per share, allotment money ₹ 4 per share (including premium) and first call money ₹ 3 per share.
The Directors have not made final call of ₹ 2 per share. All money were received except one shareholder holding 1,000 shares did not pay the first call.
Show Authorised capital, Issued capital, Subscribed capital, Called-up capital, Paid-up capital, Calls-in-Arrears and Share Premium amount in company Balance Sheet.
