Question : ABC Ltd. forfeited 150 Equity Shares of Rs. 10 each issued at a premium of Rs. 5 per share, for non-payment of allotment money of Rs. 8 per share (including premium of Rs. 5 per share), the first call of Rs. 2 per share and the final call of Rs. 3 per share. Out of these, 100 Equity Shares were reissued at Rs. 14 per share.
Question:- At the time of re-issue Securities Premium Account is credited by
Option 1: Rs. 200
Option 2: Rs. 400
Option 3: Rs. 150
Option 4: None of these
Correct Answer: Rs. 400
Solution : Answer = Rs. 400
Share Capital A/c (150 x Rs. 10) ...Dr.
1,500
Securities Premium Reserve A/c (150 x Rs. 5) ...Dr.
750
To Forfeited Shares A/c (150 x Rs. 2)
300
To Shares Allotment A/c (150 x Rs. 8)
1,200
To Shares First Call A/c (150 x Rs. 2)
To Shares Second and Final Call A/c (150 x Rs. 3)
(150 shares forfeited for non-payment of allotment and both the calls)
450
Bank A/c (100 x Rs. 14) ...Dr.
1,400
To Share Capital A/c (100 xT 10)
1,000
To Securities Premium Reserve A/c (100 x Rs. 4)
(Reissue of 100 of the forfeited shares @ Rs.14 per share)
400
Forfeited Shares A/c ...Dr.
To Capital Reserve A/c
(Gain on reissue of 100 shares transferred to Capital Reserve)
200
Question : Directions: If in a certain coding language, lo re ga indicates Bears Are Scary, sa ga pa indicates Kings Are Hungry, so du pa indicates Kings Will Die and bu so indicates They Die. What would bu du indicate in that code language?
Option 1: Hungry Are
Option 2: They Will
Option 3: Hungry die
Option 4: They die
Question : Directions: In a certain coding language, lo re ga indicates Doors Are Locked, sa ga pa indicates People Are Angry, so du pa indicates People Live Now, and bu so indicates Go Now. What would sa so indicate in that code language?
Option 1: Are Live
Option 2: People Live
Option 3: Angry Now
Option 4: Are Now
Question : Directions: In this question, a word is represented by only one set of numbers as given in any of the alternatives. The sets of numbers given in the alternatives are represented by two classes of alphabets as in the two matrices, given below. The columns and rows of Matrix (I) are numbered from 0 to 4 and that of Matrix (II) are numbered from 5 to 9. A letter from these matrices can be represented first by its row and next by its column, e.g. A can be represented by 01, 30, etc, and M can be represented by 56, 59, etc. Similarly, you have to identify the set for the word CARGO.
Option 1: 78, 10, 57, 21, 95
Option 2: 55, 31, 75, 12, 68
Option 3: 42, 65, 02, 98, 44
Option 4: 34, 88, 40, 76, 86
Question : The 1977 elections in India marked a significant shift as they:
Option 1: Led to the formation of the first coalition government at the Centre
Option 2: Resulted in the re-election of the Congress party
Option 3: Saw the introduction of electronic voting machines
Option 4: Witnessed the highest voter turnout in Indian history
Regular exam updates, QnA, Predictors, College Applications & E-books now on your Mobile