Question : In the following passage, some blanks are given and against each blank five alternative words are suggested. Choose the correct alternative to complete the passage in a meaningful way.
Meanwhile in technical ________________ (1) the “Cloud” may be called as the combination of computing resources over a network, popularly, “Cloud” has come to mark and encompass the complete range of sructures that make online activity possible, from facebook to netflix to Google Drive. Like a fluffly ________________ (2) moving across a wide and clear blue sky, not forming a particular shape or form, the Cloud of the digital is elusive, its internal working seems complex to the public, an example of what MIT cybernetician Norbert Weiner once called a “black box.” But like the clouds above us, however shapelss or ________________ (3) they may seem to be, are in fact made of matter, the Cloud of the digital is also perpetually material.
To get at the matter of the Cloud we must ________________ (4) the coils of coaxial cables, fiber optic tubes, cellular towers, air conditioners, power distribution units, transformers, water pipes, computer servers, and more. We must be aware of its material flow of electricity, water, air, heat, metals, minerals, and all the earth elements that ________________ (5) our digital lives. By this we can say that cloud is not only material but is also an ecologicak force. As it continues to ________________ (6), its impact on the environment is also increasing, even as entire workforce from engineers to technicians, and executives behind its formation aspire to balance profitability with sustainability.
Nowhere is this ________________ (7) more visible than in the walls of the infrastructures where the content of the Cloud lives: the factory-libraries where data is stored and computational power is pooled to keep our cloud applications ________________ (8).
Q. Choose the correct alternative for blank 8
Option 1: Afloat
Option 2: Wrangle
Option 3: Interdict
Option 4: Obviate
Correct Answer: Afloat
Solution : The correct answer is option 1.
explanation:
The only word that will fit the blank and make the sentence coherent is afloat.
Afloat means being free of debt or having difficulty moving through the economy.
Wrangle -A wrangle is a long and complicated disagreement or argument.
Interdict: an authoritative prohibition.
Obviate: remove (a need or difficulty).
Question : In the following passage, some blanks are given and against each blank five alternative words are suggested. Choose the correct alternative to complete the passage in a meaningful way.
Meanwhile in technical ________________ (1) the “Cloud” may be called as the combination of computing resources over a network, popularly, “Cloud” has come to mark and encompass the complete range of sructures that make online activity possible, from facebook to netflix to Google Drive. Like a fluffly ________________ (2) moving across a wide and clear blue sky, not forming a particular shape or form, the Cloud of the digital is elusive, its internal working seems complex to the public, an example of what MIT cybernetician Norbert Weiner once called a “black box.” But like the clouds above us, however shapelss or ________________ (3) they may seem to be, are in fact made of matter, the Cloud of the digital is also perpetually material.
To get at the matter of the Cloud we must ________________ (4) the coils of coaxial cables, fiber optic tubes, cellular towers, air conditioners, power distribution units, transformers, water pipes, computer servers, and more. We must be aware of its material flow of electricity, water, air, heat, metals, minerals, and all the earth elements that ________________ (5) our digital lives. By this we can say that cloud is not only material but is also an ecologicak force. As it continues to ________________ (6), its impact on the environment is also increasing, even as entire workforce from engineers to technicians, and executives behind its formation aspire to balance profitability with sustainability.
Nowhere is this ________________ (7) more visible than in the walls of the infrastructures where the content of the Cloud lives: the factory-libraries where data is stored and computational power is pooled to keep our cloud applications ________________ (8).
Q. Choose the correct alternative for blank 2.
Option 1: Paradox
Option 2: Elusive
Option 3: Wreak
Option 4: Cumulus
Correct Answer: Cumulus
Solution : The correct answer is option 4.
Explanation:
Cumulus is the only word that will fit the blank and make the sentence coherent.
Cumulus: a cloud that forms rounded masses heaped on top of each other above a flat base at a low altitude.
Paradox: a seemingly absurd or contradictory statement or proposition which when investigated may prove to be well founded or true
Wrek:cause (a large amount of damage or harm):
Elusive:difficult to find, catch, or achieve:
Question : Which type of insulator is used in high-voltage applications?
Option 1: Suspension type
Option 2: Pin type
Option 3: Strain type
Option 4: Post type
Correct Answer: Suspension type
Solution : The correct option is the Suspension type
High-voltage gearboxes use suspension-type insulators. Porcelain discs joined together and can transmit larger voltages from suspension-type insulators. Straight-running transmission lines employ pin-type insulators. Bridges over rivers are examples of significant mechanical strains that handle strain-type insulators, which are suspension insulators suspended horizontally. Post-type insulators have a strong defence against punctures.
Question :
On 15-2-2017 A Ltd. invited applications for the issue of 1,00,000 9% debentures of Rs.100 each at a discount of 6%, redeemable at par after 3 years. The full amount was payable on application and the debentures were issued on 15-3-2017. At the time of application received Bank account will be debited by
Option 1: Rs 94,00,000
Option 2: Rs 1,00,00,000
Option 3: Rs 90,00,000
Option 4: None of the above
Correct Answer: Rs 94,00,000
Solution : Answer = Rs 94,00,000
Bank A/c Dr 94,00,000 (1,00,000×94(100-6))
To Debenture Application and allotment A/c 94,00,000
Hence, the correct option is 1.
Question : XYZ Ltd. invited applications for issuing 1,00,000 equity shares of Rs. 10 each at par. The amount was payable as follows:
On Application— Rs. 3 per share;
On Allotment— Rs. 4 per share; and
On First and Final Call— Rs. 3 per share.
The issue was oversubscribed by three times. Applications for 20% shares were rejected and the money refunded. Allotment was made to the remaining applicants as follows:
Category | No. of Shares Applied | No. of Shares Allotted |
I | 1,60,000 | 80,000 |
II | 80,000 | 20,000 |
Excess money received with applications was adjusted towards sums due on allotment and first and final call. All calls were made and were duly received except the final call by a shareholder belonging to Category I who has applied for 320 shares. His shares were forfeited. The forfeited shares were reissued at Rs. 15 per share fully paid-up.
Question:- At the time of forfeiture of shares, share forfeited account will be:
Option 1: Rs. 1,000
Option 2: Rs. 1,120
Option 3: Rs. 1,500
Option 4: Rs. 1,400
Correct Answer: Rs. 1,120
Solution : Answer = Rs. 1,120
1. Adjustment of Application Money: |
Rs. |
Application money received on shares applied (3,00,000 x Rs. 3) |
9,00,000 |
Less: 20% applications rejected (20% of 3,00,000, i.e., 60,000 x Rs. 3)—Refunded (A) |
1,80,000 |
7,20,000 |
|
Less: Application money adjusted on allotted shares (1,00,000 x Rs. 3) |
3,00,000 |
(Category I and II) |
|
Excess Application money (Category I and II) |
4,20,000 |
2. Adjustment of Excess Application Money: |
Rs. |
Category 1: Application money received (1,60,000 x Rs. 3) |
4,80,000 |
Less: Application money adjusted on allotted shares (80,000 x Rs. 3) (C) |
2,40,000 |
Excess application money |
2,40,000 |
Less: Excess application money to be adjusted on allotment |
2,40,000 |
Surplus |
Nil |
Category II: Application money received on shares applied (80,000 x Rs. 3) Less: Application money due on shares allotted (20,000 x Rs. 3) |
. 2,40,000 60,000 |
|
Excess Application money Less: Amount to be adjusted on Allotment (20,000 x Rs. 4) (D) |
80,000 |
1,80,000 |
Amount to be adjusted on first and final call (20,000 x Rs. 3) (E) |
60,000 |
1,40,000 |
Excess Amount to be refunded (B) |
40,000 |
• Total Application Money Refunded (A + B) = Rs. 1,80,000 + Rs. 40,000 = Rs. 2,20,000.
• Excess Application Money to be adjusted on Allotment (C + D) = Rs. 2,40,000 + Rs. 80,000 = Rs. 3,20,000.
• Excess Application Money to be adjusted on First and Final Call (Calls-in-Advance) = Rs. 60,000 (E).
3. Shares are reissued at premium, discount on reissue is Nil.Therefore, total amount of Rs. 1,120 credited to Forfeited Shares Account is capital gain and is transferred to Capital Reserve Account.
Hence, the correct option is 2.
Question : S Ltd. issued 40,000 Shares of Rs. 10 each, for Rs. 12 each payable as under:
On application Rs. 2 per share, on allotment Rs. 5 per share (including premium), on first call Rs. 2 per share and on second and final call Rs. 3 per share.
Applications were received for 60,000 shares. Allotment was made on pro rata basis to the applicants for 48,000 shares, remaining applications being refused. Money overpaid on application was applied towards amount due on allotment.
A, to whom 1,600 shares were allotted, failed to pay the allotment money and B, to whom 2,000 shares were allotted, failed to pay two calls. These were subsequently forfeited after the second and final call.
Question:- At the time of forfeiture of shares, share forfeited account will be credited _______.
Option 1: Rs. 13,840
Option 2: Rs. 10,000
Option 3: Rs. 11,600
Option 4: None of these
Correct Answer: Rs. 13,840
Solution : Answer = Rs. 13,840
Equity Share Capital A/c Dr. 16,000
Securities Premium A/c Dr. 3,200
To Share Forfeiture A/c 3,840
To Equity Share Allotment A/c 7,360
To Equity Share first Call A/c 3,200
To Equity Share Second and Final Call A/c 4,800
(1,600 shares held by Ram forfeited for the non-payment amount due including premium)
Equity Share Capital A/c Dr. 20,000
To Equity Share Forfeiture A/c 10,000
To Equity Share First Call A/c 4,000
To Equity Share Second and Final Call A/c 6,000
(2,000 shares held by Shyam forfeited for non-payment of amount due)
Therefore, the total amount credited to the Share Forfeiture A/c = Rs.3,840 + Rs.10,000 = Rs.13,840.
Hence, the correct option is 1.
Question : To provide employment to the youth and to develop Baramula district of Jammu and Kashmir, Jyoti Power Ltd. decided to set up a power plant. For raising funds the company decided to issue 8,50,000 equity shares of Rs. 10 each at a premium of Rs. 3 per share. The whole amount was payable on application. Applications for Rs. 20,00,000 shares were received. Applications for 3,00,000 shares were rejected and shares were allotted to the remaining applicants on a pro-rata basis.
Question:- Calculate the amount of share capital that will be credited by:
Option 1: Rs. 85,00,000
Option 2: Rs. 99,50,000
Option 3: Rs. 1,10,50,000
Option 4: Rs. 2,60,00,000
Correct Answer: Rs. 85,00,000
Solution : Answer = Rs. 85,00,000
In the Books of Jyoti Power Ltd.
JOURNAL
Date |
Particulars |
L.F. |
Dr. ( Rs.) |
Cr.( Rs.) |
|
Bank A/c |
...Dr. |
2,60,00,000 |
|||
To Equity Shares Application and Allotment A/c (Application and allotment money received on 20,00,000 shares of Rs. 10 each @ Rs. 13 per share) |
2,60,00,000 |
||||
Equity Shares Application and Allotment A/c |
...Dr. |
2,60,00,000 |
|||
To Equity Share Capital A/c (8,50,000 x Rs. 10) To Securities Premium Reserve A/c (8,50,000 x Rs. 3) To Bank A/c (11,50,000 x Rs. 13) (Application and allotment money adjusted for 8,50,000 shares and the balance refunded) |
85,00,000 25,50,000 1,49,50,000 |
Question :
A company invited applications for 50,000 Equity Shares of Rs. 10 each payable as follows:
On application Rs. 3; on allotment Rs. 3; on first and final call Rs. 4.
Applications were received for 1,10,000 shares. It was decided
(i) to refuse allotment to the applicants for 10,000 shares,
(ii) to allot 50% to X who has applied for 20,000 shares,
(iii) to allot in full to Y who has applied for 10,000 shares,
(iv) to allot balance of the available shares on pro-rata basis among the other applicants, and
(v) to utilise excess application money in part payment of allotment and final call.
Question:- The amount adjusted against allotment will be:
Option 1:
Rs. 1,50,000
Option 2: Rs. 1,20,000
Option 3: Rs. 1,80,000
Option 4: Rs. 1,00,000
Correct Answer: Rs. 1,20,000
Solution :
Answer = Rs. 1,20,000
STATEMENT SHOWING DETAILS OF SHARES APPLICATION MONEY
Categories |
Shares |
Shares |
Application |
Disposal of Shares Application Money Received |
|||
Applied |
Allotted |
Money |
Share |
Shares |
Calls-in- |
Refund |
|
Received |
Capital |
Allotment |
Advance |
||||
Rs. |
Rs. |
Rs. |
Rs. |
Rs. |
|||
1 (Rejected) |
10,000 |
NIL |
30,000 |
30,000 |
|||
(10,000 x Rs.3) |
|||||||
II X |
20,000 |
10,000 |
60,000 |
30,000 |
30,000 |
||
(20,000 x Rs. 3) |
(10,000 x Rs. 3) |
(10,000 x Rs. 3) |
|||||
III Y |
10,000 |
10,000 |
30,000 |
30,000 |
|||
(10,000 x Rs. 3) |
(10,000 x Rs. 3) |
||||||
IV (Prorata) |
70,000 |
30,000 |
2,10,000 |
90,000 |
90,000 |
30,000 |
|
(Bal.Fig.) |
(Bal.Fig.) |
(70,000 x Rs. 3) |
(30,000 x Rs. 3) |
(30,000 x Rs. 3) |
(2,10,000 |
||
- 90,000 - 90,000) |
|||||||
Total |
1,10,000 |
50,000 |
3,30,000 |
1,50,000 |
1,20,000 |
30,000 |
30,000 |
Hence, the correct option is 2.
Question :
In the following passage, some blanks are given and against each blank five alternative words are suggested. Choose the correct alternative to complete the passage in a meaningful way.
Meanwhile in technical ________________ (1) the “Cloud” may be called as the combination of computing resources over a network, popularly, “Cloud” has come to mark and encompass the complete range of sructures that make online activity possible, from facebook to netflix to Google Drive. Like a fluffly ________________ (2) moving across a wide and clear blue sky, not forming a particular shape or form, the Cloud of the digital is elusive, its internal working seems complex to the public, an example of what MIT cybernetician Norbert Weiner once called a “black box.” But like the clouds above us, however shapelss or ________________ (3) they may seem to be, are in fact made of matter, the Cloud of the digital is also perpetually material.
To get at the matter of the Cloud we must ________________ (4) the coils of coaxial cables, fiber optic tubes, cellular towers, air conditioners, power distribution units, transformers, water pipes, computer servers, and more. We must be aware of its material flow of electricity, water, air, heat, metals, minerals, and all the earth elements that ________________ (5) our digital lives. By this we can say that cloud is not only material but is also an ecologicak force. As it continues to ________________ (6), its impact on the environment is also increasing, even as entire workforce from engineers to technicians, and executives behind its formation aspire to balance profitability with sustainability.
Nowhere is this ________________ (7) more visible than in the walls of the infrastructures where the content of the Cloud lives: the factory-libraries where data is stored and computational power is pooled to keep our cloud applications ________________ (8).
Q. Choose the correct alternative for blank 4
Option 1: Divulge
Option 2: Beleaguer
Option 3: Unravel
Option 4: Defrayed
Correct Answer: Unravel
Solution : The correct answer is option 3.
Explanation:
The only word that will fit the blank and make the sentence coherent is unravel.
Unravel: research and solve or explain (something complicated or puzzling).
Divulge: reveal (private or sensitive information).
Beleaguer: cause problems or difficulties for
Defrayed: provided money to pay (a cost or expense).
Question : X Ltd. invited applications for 50,000 shares of Rs.10 each at 10% premium, payable on Rs.3 on application, Rs.3 on allotment and balance amount on first and final call Applications were received for 1,20,000 shares and shares were allotted on pro-rata basis The excess money received on application was to be adjusted against allotment only. A shareholder who applied for 6,000 shares, could not pay the call money and his shares were accordingly forfeited.
Question:- At the time of forfeiture of shares, share forfeited account will be credited with _____.
Option 1: Rs. 18,000
Option 2: Rs. 12,500
Option 3: Rs. 15,000
Option 4: Rs. 24,000
Correct Answer: Rs. 12,500
Solution : Answer = Rs. 12,500
Number of shares allotted = 2,500.
Application money = Rs.2 (excluding SPR)
Allotment money = Rs.3
Total money received after shares are forfeited = Rs.(2 + 3) X 2,500 = Rs.12,500 Shares.