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प्रश्न
Write the word/term/phrase which can substitute the following statement:
The expenditure incurred for purchase, installation charges, etc. of an asset.
उत्तर
The expenditure incurred for purchase, installation charges, etc. of an asset. - Cost of asset
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संबंधित प्रश्न
Long Answer Question
Describe the purposes for which a company can use ‘Securities Premium Account’
Citizen Watches Ltd. invited applications for 50,000 shares of ₹ 10 each payable ₹ 3 on application, ₹ 4 on allotment, and balance on first and final call. Applications were received for 60,000 shares. Applications were accepted for 50,000 shares and remaining applications were rejected. All calls were made and received except First and Final call on 500 shares . Pass the journal entries in the books of Citizen Watches Ltd.
Arti Ltd. offered for subscription 20,000 shares of ₹ 10 each payable ₹ 3 on application, ₹ 5 on allotment and balance on first and final call. Applications were received for 30,000 shares. Letters of regret were issued to applicants for 5,000 shares and their application money was refunded. Application money for other 5,000 shares was applied towards the payment for allotment money. The balance of allotment money was also received in due time. Company didn't make first and final call.
You are to prepare the Journal, Cash Book, Ledger Accounts and show 'Share Capital' in the Balance Sheet of the company.
Sugandh Ltd. issued 60,000 shares of ₹ 10 each at a premium of ₹ 2 per share payable as ₹ 3 on application, ₹ 5(including premium) on allotment and the balance on first and final call. Applications were received for 92,000 shares. The Directors resolved to allot as
| (i) | Applicants of 40,000 shares | 30,000 shares, |
| (ii) | Applicants of 50,000 shares | 30,000 shares, |
| (iii) | Applicants of 2,000 shares | Nil. |
Mohan, who had applied for 800 shares in Category
(i) and Sohan, who was allotted 600 shares in Category
(ii) failed to pay the allotment money. Calculate amount received on allotment.
Alankrit Ltd. purchased machinery of ₹ 10,00,000 from Grand Iron Works Ltd. and paid as follows:
(a) Issued 50,000 Equity Shares of ₹ 10 each at a premium of ₹ 2.
(b) Gave an acceptance of ₹ 3,00,000 payable after 3 months; and
(c) Balance by issuing post-dated cheque of two months of ₹ 1,00,000.
Pass the Journal entries in the books of Alankrit Ltd. and Grand Iron Works Ltd.
Give the meaning of 'Calls-in-Advance'.
Answer in One Sentence only:
Where is the profit or loss on sale of asset is transferred?
Answer in One Sentence only:
To which account balance on Depreciation A/c is transferred?
What should be deducted from subscribed share capital while preparing notes to account in the balance sheet.
When the entire face value of a share is called by the company and is also paid by the shareholder, It is known as ______.
When a company makes an offer or invites the public in general to subscribe its shares, it is known as ______.
Which account is debited When shares are issued to the promoters?
The 'minimum subscription' of capital cannot be less than up to how much % of the issued amount according to SEBI (Disclosure and Investor Protection) Guidelines, 2000.
What will be the time interval between the making of two calls from the shareholders of the company?
When any shareholder fails to pay the amount due on allotment or on any of the calls, such amount is known as ______
Calls in-Arrears represents which kind of balance of all the calls account and are shown as deduction from the paid-up capital on the ______ side of the balance sheet.
What is the rate of interest on calls in advance if an article of association of the company is silent?
Where number of shares applied for Subscription is less thah the number for which applications have been invited for subscription this situation is called?
For which of the following purposes the amount of securities premium can be utilized?
Subscription of shares should not be less than ______% of the issued shares.
ESOP offered by company will create/retain ______.
Share Allotment Account is a/an ______.
When a company issues shares at a premium, amount of premium may be received by the company ______.
Premium on issue of shares is a ______.
Premium on issue of shares is shown on which side of the Balance sheet?
When the number of debentures applied is less than number of debentures offered to public the issue is said to be ______.
Based on below information you are required to answer the following question:
Sangita Limited invited applications for issuing 60,000 shares of ₹ 10 each at par. The amount was payable as follows:
On Application ₹ 2 per share
On Allotment ₹ 3 per share
On First and Final Call ₹ 5 per share
Applications were received for 92,000 shares. Allotment was made on the following basis:
- To applicants for 40,000 shares - Full
- To applicants for 50,000 shares - 40%
- To applicants for 2,000 shares - Nil
₹ 1,08,000 was realised on account of allotment (excluding the amount carried from application money) and ₹ 2,50,000 on account of call.
The directors decided to forfeit shares of those applicants to whom full allotment was made and on which allotment money was overdue.
How much allotment amount is already received during application?
| Nitya, Shreya and Ishita are partners in a firm. They share profits in the ratio of 5 : 3 : 2. Their fixed capitals are ₹ 1,80,000; ₹ 1,60,000 and ₹ 2,00,000 respectively. For the year ending 31st March 2022, Nitya withdrew ₹ 7,500 at the end of every quarter. |
The average number of months for which interest on drawings will be calculated will be:
|
Rudra, Dev and Shiv were partners in a firm sharing profits in the ratio of 5 : 3 : 2. Their fixed capitals were ₹ 6,00,000, ₹ 4,00,000 and ₹ 2,00,000 respectively. Besides his capital Shiv had given a loan of ₹ 75,000 to the firm. Their partnership deed provided for the following:
During the year Rudra withdrew ₹ 50,000 at the end of each quarter; Dev withdrew ₹ 50,000 in the beginning of each half year and Shiv withdrew ₹ 70,000 at the end of each half year. The profit of the firm for the year ended 31-3-2022 before allowing interest on Shiv's loan was ₹ 7,06,750. |
What will the amount of interest on drawings of the partners?
