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प्रश्न
When a company issues shares at a premium, the company can collect securities premium along with the following :
पर्याय
Application money
Allotment money
Call money
Any of the above
उत्तर
Any of the above
APPEARS IN
संबंधित प्रश्न
'Sangam Woolens Ltd.', Ludhiana, are the manufacturers and exporters of woollen garments. The company decided to distribute free of cost woollen garments to 10 villages of Lahaul and Spiti District of Himachal Pradesh. The company also decided to employ 50 young persons from this village in its newly established factory. The company issued 40,000 equity shares of Rs 10 each and 1,000 9% debentures of Rs 100 each to the vendors for the purchase of machinery of Rs 5,00,000. Pass necessary Journal Entries. Also, identify anyone value that the company wants to communicate to the society.
List the categories of individuals other than the minors who cannot become the members of a partnership firm
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.
Following is the Balance Sheet of J.M. Ltd. as at 31.3.2016:
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J.M. Ltd. Balance Sheet as at 31.3.2016 |
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Particulars |
NoteNo. |
31.03.2016 (Rs) |
31.03.2015 (Rs) |
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I. Equity and Liabilities : (1) Shareholder's Funds: |
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(a) Share Capital |
2,25,000 |
1,75,000 |
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(b) Reserves and Surplus |
1 |
62,500 |
25,000 |
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(2) Non-current Liabilities: |
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Long-Term Borrowings |
2 |
1,12,500 |
87,500 |
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(3) Current Liabilities: |
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(a) Short-term Borrowings |
3 |
37,500 |
18,750 |
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(b) Short-term Provisions |
4 |
50,000 |
31,250 |
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Total |
4,87,500 |
3,37,500 |
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II. Assets: |
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(1) Non-current Assets: |
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(a) Fixed Assets: |
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(i) Tangible |
5 |
3,66,250 |
2,28,750 |
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(ii) Intangible |
6 |
25,000 |
37,500 |
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(b) Non-current Investments |
37,500 |
25,000 |
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(2) Current Assets: |
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(a) Current Investments |
|
10,000 |
17,500 |
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(b) Inventories |
7 |
30,500 |
18,000 |
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(c) Cash and Cash Equivalents |
18,250 |
10,750 |
|
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Total |
4,87,500 |
3,37,500 |
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Notes to Accounts :
|
Note No. |
Particulars |
31.03.2016 (Rs) |
31.03.2015 (Rs) |
|
(1) |
Reserves and Surplus |
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|
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(Surplus i.e. Balance in the Statement of Profit and Loss) |
62,500 | 25,000 |
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62,500 | 25,000 |
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(2) |
Long-term Borrowings |
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12% Debentures |
1,12,500 |
87,500 |
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1,12,500 |
87,500 |
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(3) |
Short-term Borrowings |
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Bank overdraft |
37,500 | 18,750 |
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37,500 | 18,750 |
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(4) |
Short-term Provisions |
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Proposed Dividend |
50,000 | 31,250 |
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50,000 | 31,250 |
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(5) |
Tangible Assets |
|
|
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Machinery |
4,18,750 | 2,63,750 |
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Accumulated Depreciation |
(52,500) | (35,000) |
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|
3,66,250 | 2,28,750 |
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(6) |
Intangible Assets |
|
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Goodwill |
25,000 | 37,500 |
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25,000 |
37,500 |
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(7) |
Inventories |
|
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Stock in Trade |
30,500 | 18,000 |
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30,500 | 18,000 |
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Give one word/term/phrase for the following statement.
Amount called-up on shares by the company but not received.
State whether you agree or disagree with following statement.
Calls in Advance account is shown on the Asset side of the Balance sheet.
Answer in one sentence only.
Which account is debited when share first call money is received?
___________ share holders get fixed rate of dividend.
____________ shareholders are the real owners of the company.
__________ form of business organisation in which Capital is raised through the issue of shares.
10000 equity shares of ₹ 10 each issued at 10% premium. Calculate the total amount of share premium.
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.
Suhas Limited issued 10000 equity shares of ₹ 10 each at a premium of ₹ 2 per share payable ₹ 3 on application, ₹ 5 (including premium) on allotment and the balance in two calls of equal amount. Applications were received for ll,000 equity shares and pro-rata allotment was made for all the applicants. The excess application money was adjusted towards allotment. Mrs. Shobha who were allotted 200 equity shares failed to pay F/F/C and her shares were forfeited after the final call
Show Journal entries in the books of Suhas Ltd. and also show its presentation in Balance sheet.
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.
As per Section 52 of Companies Act 2013, Securities Premium Reserve cannot be utilised for ______.
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.
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.
Ananya Limited invited applications for 50,000 equity shares of ₹ 10 each payable as ₹ 2.50 on Application ₹ 5 on Allotment ₹ 2.50 on Final call.
Applications were received for 60,000 equity shares and pro-rata allotment were made to all. All the money was duly received except Final call on 5,000 equity shares.
Pass journal entries in the books of Ananya Limited and show it in the Balance sheet.
