Accounting Mock Test: Share Capital and Allotment

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12 Questions

What is the authorized capital of A Ltd?

₹ 10,00,000

What is the face value of each share of A Ltd?

₹ 10

What is the amount payable on application per share?

₹ 3

What is the amount payable on allotment per share?

₹ 5

What is the total amount received from Hari?

₹ 3,000

What is the amount at which half of Hari's forfeited shares were reissued?

₹ 8 per share

What is the total amount received on share allotment account?

2,50,000

What is the amount received from Hari's reissued shares?

4,800

Which account should be debited for the discount allowed on reissue of forfeited shares?

Securities Premium Reserve Account

Where should the balance left in the share forfeited account relating to reissued shares be transferred to?

Capital Reserve Account

Electrical Ltd. issued 10000, 6% debentures of 100 each at a premium of 10. What is the total amount received?

11,00,000

What is the journal entry for the issue of debentures in Electrical Ltd?

Debenture Application and Allotment A/c Dr. 11,00,000, To Bank A/c 11,00,000

Test your understanding of accounting concepts with this mock test paper. It covers questions related to share capital, allotment, and premium payments. Evaluate your knowledge of financial transactions and accounting procedures.

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