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Accounting for ...

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  • Question 1
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    Rs.
    Opening capital80,000
    Closing capital1,20,000
    Net profit during the year20000
    The trader has

  • Question 2
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    Which of the following statements is false?

  • Question 3
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    The amount to be collected on application of share should ___________.

  • Question 4
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    Which of the following statements is true?

  • Question 5
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    Share premium amount cannot be used for _____________.

  • Question 6
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    The excess price received over the par value of shares, should be credited to _______________.

  • Question 7
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    In case the whole or a part of the shares issued are not subscribed by the public, who will subscribe such unsubscribed securities for a fixed commission?

  • Question 8
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    When shares are forfeited, the share capital account is debited with _______ and the Share Forfeited Account is credited with ________.

  • Question 9
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    A company issued $$25,000$$ shares of $$Rs. 10$$ each. The amount was demanded as under:
    On application - $$Rs. 2$$ On allotment - $$Rs. 4$$
    On $$1st$$ Call - $$Rs. 2$$ On $$2nd$$ Call - $$Rs. 2$$
    A shareholder, who was allotted $$500$$ shares did not pay $$1st$$ Call and $$2nd$$ Call money. His shares have been forfeited. What amount will be credited to share forfeited account?

  • Question 10
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    A company may issue shares at a discount in a class already issued, if ________________.

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