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प्रश्न
___________ Capital is the Capital which a company is authorised to issue by its Memorandum of Association.
उत्तर
Authorised Capital is the Capital which a company is authorised to issue by its Memorandum of Association.
APPEARS IN
संबंधित प्रश्न
On 1st April, 2012; Vivek Ltd. Was formed with an authorized capital of Rs.1,00,00,000 divided into 2,00,000 equity shares of Rs.50 each. The company issued prospectus inviting applications for 1,80,000 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.
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.
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?
State the two situations in which interest on partner's capital is generally provided.
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.
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.
Z Ltd. forfeited 1000 equity shares of Rs 10 each for the non-payment of the final call of Rs 2 per share. Calculate the maximum amount of discount at which these shares can be reissued.
C India Ltd. purchased machinery from B India Ltd. Payment to B India Ltd. was made as follows:
(i) By issuing 10,000 equity shares of Rs 10 each at a premium of 20%.
(ii) By issuing 1000, 9% debentures of Rs 100 each at a discount of 5%.
(iii) Balance by giving a bank draft of Rs 37,000.
Pass necessary journal entries in the books of C India Ltd. for the purchase of machinery and payment to B India Ltd.
Select the most appropriate answer from the alternatives given below and rewrite the sentence :
As per section 69 (3) of the Companies Act, 1956, the minimum amount payable on share application should be______________ percent.
Premium received on issue of shares is shown to __________.
The unpaid amount on allotment and calls may be transferred to _____________ account.
There must be provision in ___________ for forfeiture of shares.
Give one word/term/phrase for the following statement.
Amount called-up on shares by the company but not received.
Give one word/term/phrase for the following statement.
Issue of share at its face value
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 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 shares are forfeited Shares Capital Account is credited.
Answer in one sentence only.
What is Registered Capital?
Answer in one sentence only.
What is Over subscription of shares?
Answer in one sentence only.
Which account is debited when share first call money is received?
Answer in one sentence only.
What do you mean by Shares Issued at Premium?
The difference between Called-up Capital and Paid-up Capital is known as ___________.
__________ form of business organisation in which Capital is raised through the issue of shares.
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.
Vijay Ltd. was registered with an authorised capital of ₹ 15,00,000 divided into 1,50,000 equity shares of ₹ 10 each.
Company issued 1,00,000 equity shares of ₹ 10 each at a premium of ₹ 2 per share.
Company received applications for 80,000 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 500 shares did not pay 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.
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.
Deepak Manufacturing co. Ltd. issued a prospectus inviting applications for 1,00,000 equity shares of ₹ 10 each payable as follows
₹ 2 on Application
₹ 4 on Allotment
₹ 2 on first call
₹ 2 on final call
Application were received for 1,20,000 equity shares. The Directors decided to reject excess applications and refunded application money on that. Company received all money.
Pass Journal Entries in the books of a company.
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.
Subhash Company Limited issues 2000 Equity shares of ₹100 each payable as ₹ 30 on application, ₹ 30 on allotment, ₹ 40 on first and final call. All the shares were subscribed and duly allotted. Company made all the calls. All cash was duly received except the first & final call on 100 equity shares. These shares were forfeited by company and were re-issued as fully paid for ₹75 per share.
Show the Journal entries in the books of Subhash Company Ltd.
In which of the following situation Companies Act 2013 allows for issue of shares at discount?
Which of the following statement is/are true?
- Authorized Capital < Issued Capital
- Authorized Capital ≥ Issued Capital
- Subscribed Capital ≤ Issued Capital
- Subscribed Capital > Issued Capital
Radhey Ltd. took over assets of ₹ 14,00,000 and liabilities of ₹ 6,00,000 of Krishna Ltd. Radhey Ltd. paid the purchase consideration by issuing 10,000, 8% Debentures of 100 each at a premium of 10%.
Pass necessary journal entries in the books of Radhey Ltd.
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.
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.
When a company issues shares at a premium, the company can collect securities premium along with the following :
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?
Narmada Ltd. has an authorised capital of ₹ 10,00,000 divided into equity shares of ₹ 10 each. The company issued a prospectus inviting applications for issuing 80,000 equity shares. The company received applications for 75,000 equity shares. All calls were made and were duly received except the first and final call of ₹ 2 per share on 5,000 shares held by Arti. 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.
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.
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.
Find the odd one:
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.
The liability of shareholder of public limited company is ______.
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.
Mohini Company Limited issued 25,000 equity shares of ₹ 100 each payable as follows:
On Application ₹ 20
On Allotment ₹ 30
On First call ₹ 20
On Second and Final call ₹ 30
Applications were received for 22,000 equity shares and allotment of shares were made to them.
All money was received by the company.
Pass Journal Entries in the books of Mohini Co. Ltd.
