Class 12 Accountancy MCQs Share Capital
21. A Company issued 20,000 shares of ₹50 each at 5% premium. ₹20 were payable on application and balance on allotment. What will be the allotment amount:
a) ₹5,00,000
b) ₹4,75,000
c) ₹6,50,000
d) ₹5,25,000
22. As per Table F, the Company is required to pay interest on the amount of calls in advance at:
a) 12% p.a.
b) 5% p.a.
c) 10% p.a.
d) 6% p.a.
23. Following amounts were payable on issue of shares by a Company- ₹3 on application, ₹3 on allotment. ₹2 on first call and ₹2 on final call. Mona holding 600 shares paid only application and allotment money whereas Shona holding 400 shares did not pay final call. Amount of calls in arrear will be:
a) ₹3,200
b) ₹2,800
c) ₹1,800
d) ₹6,200
24. The subscribed capital of a company is ₹60,00,000 and the nominal value of the share is ₹100 each. There were no calls in arrear till the final call was made. The final call was made and was paid on 57,500 shares only. The balance in the calls in arrear amounted to ₹62,500. Calculate the final call on share.
a) ₹7
b) ₹20
c) ₹22
d) ₹25
25. From which account, expenses on issue of shares will be written off first of all:
a) Statement of Profit and Loss
b) Miscellaneous Expenditure Account
c) Share Issue Expenses Account
d) Securities Premium Reserve Account
26. CT Ltd. invited applications for 1,00,000 shares and it received applications for 1,50,000 shares. Applications for 30,000 shares were rejected and the remaining were allotted shares on pro-rata basis. How many shares an applicant for 6,000 shares will be allotted:
a) 2,500 Shares
b) 3,600 Shares
c) 4,500 Shares
d) 5,000 Shares
27. PT Ltd. had allotted 10,000 shares to the applicants of 14,000 shares on pro-rata basis. The amount payable on application was ₹3. Anand applied for 420 shares. The number of shares allotted to Anand will be:
a) 60 shares
b) 340 shares
c) 320 shares
d) 300 shares
28. If applicants for 75,000 shares were allotted 50,000 shares on pro-rata basis, the shareholder who was allotted 1,000 shares must have applied for:
a) 900 Shares
b) 3,600 Shares
c) 1,500 Shares
d) 4,800 Shares
29. A Company offered 50,000 shares of ₹10 each at par, payable as ₹3 on applications, ₹5 on allotment and the balance on final call. Applications were received for 70,000 shares and the allotment was made pro-rata. The excess application money was to be adjusted on allotment and call. How much amount will be adjusted from Share Application with Share Allotment?
a) ₹1,80,000
b) ₹30,000
c) ₹60,000
d) ₹50,000
30. RL Limited has offered to issue 10,000 Equity shares to its wholetime directors and employees at a concessional price. These shares are:
a) Bonus shares
b) Redeemable Preference shares
c) Equity shares
d) Sweat equity shares