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Accounting for ...

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  • Question 1
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    The capitals of X, Y and Z are Rs. 1,00,000; Rs. 75,000 and Rs. 50,000; profits are shared jn the ratio of 3 : 2 : 1. Y retires on the basis of firm purchased by other partners. The new ratio between X and Z is 3 :1. Find the capital of X and Z.

  • Question 2
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    A and B enter into a Joint Venture sharing profits and losses in the ratio 3 : 2. A purchased good costing 2,00,000. Other expenses of A 10,000. B sold the goods for 1,80,000. Remaining goods were taken over by B at 20,000. The amount of final remittance to be paid by B to A will be:

  • Question 3
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    Which of the following can be treated as type of shares?

  • Question 4
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    There are 20,000 Preference Shares of Rs 10, on which only Rs 8 has been called up. Company wants to redeem these shares. Company has received different advices. Which of the following advices is correct?

  • Question 5
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    Closing Capitals of Ram, Shyam and Mohan was 50,000; 45,000 and 30,000 respectively. Their drawings during the year were 10,000, 5,000 and 12,000 respectively. Amount of net profit earned during the year was 18,000 which was distributed in the ration of 3 :2 : 1. Opening capital of Mohan will be:

  • Question 6
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    The minimum amount that should be called by a company with application for its shares is the following per cent of face value of shares.

  • Question 7
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    Equity shareholders are____.

  • Question 8
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    According to Section 78 of the Companies Act, the amount in the Securities Premium A/c cannot be used for the purpose of _________________.

  • Question 9
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    Which of the following is not true?

  • Question 10
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    Shares of a company can't be issued at ______________.

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