Issue of Share – MCQs 2021-22

16/11/2021 One Mark Solution Accountancy 1

Issue of Share MCQs
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Issue of Share MCQs

Be ready with your copy and pen for solving the practical questions.

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1) Shares for which amount is paid by public are called ______ shares.

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2) Which of the following capital is not shown in company’s Balance Sheet:

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3) Reserve Capital is not a part of:

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4) Money received in advance from shareholders before it is actually called-up by the directors is:

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5) When shares are forfeited, the share capital account is debited with _________ and the share forfeiture account is credited with____________.

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6) A company forfeited 4,000 shares of ₹ 10 each on which application money of ₹ 3 has been paid. Out of these 2,000 shares were reissued as fully paid up and ₹ 4,000 has been transferred to capital reserve. Calculate the rate at which these shares were reissued.

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7) Vinod Ltd. forfeited a share of ₹ 50 issued at a premium of 20% for non-payment of first call of ₹ 15 per share and final call of ₹ 5 per share. At what minimum price it can be reissued?

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8) A company purchased machinery for ₹ 6,00,000, out of which ₹ 1,00,000 was paid immediately and the balance amount was discharged by issue of equity shares of ₹ 10 each at 25% premium. How many shares will be issued by the company to the vendor?

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9) The Directors of Vinod Ltd. forfeited 70,000 Equity Shares of ₹ 10 each, ₹ 10 called up, for non-payment of final call of ₹ 1 per share. Half of the forfeited shares were reissued at ₹ 20 per share fully paid up. On reissue of forfeited shares, the following amount will be transferred to the Capital Reserve Account:

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10) Vinod Ltd. forfeited 150 Equity Shares of ₹ 10 each issued at a premium of ₹ 5 per share, for non-payment of allotment money of ₹ 8 per share (including premium ₹ 5) the first call of ₹ 2 and final call of ₹ 3 per share. Out of these 100 shares were reissued at ₹ 14 per share. The capital reserve will be:

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Hello Students!  We are providing here the Issue of Share – MCQs 2021-22.

From the Annual Examination 2021-22, class XII students will find more objective-type questions in their Accountancy question paper.

To prepare for the one-mark questions, students need to know all the important concepts which can be tested in the exam.

CBSE MCQs on Class XII Accountancy Part B Chapter 1 Company Accounts (Issue of Shares) provided by One Mark Solution will help students get acquainted with such important concepts and topics.

So that they may easily attempt the related Multiple Choice Type Questions of Issue of Share – MCQs 2021-22 asked in CBSE XII Accountancy Exam 2021-22.

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Stay Tuned, in Future we will provide the mcq on issue of shares with answer. Here we have provided issue, forfeiture and reissue of shares mcq with answers Practice it for the Better Results in the CBSE Term 1 Exam 2021-22.

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