List of top Accountancy Questions on Accounting for Share and Debenture Capital

Oversubscription is a situation where the

Arrange the following steps in the correct sequence of the life of a company:
(A) Commencement of Business
(B) Incorporation
(C) Promotion
(D) Floatation

Match List-I with List-II

List-I	List-II
(A) Share capital	(I) Will be called at the time of winding up
(B) Reserves and surplus	(II) Calls in advance
(C) Reserve capital	(III) Subscribed but not fully paid
(D) Current liabilities	(IV) Sinking fund

Choose the correct answer from the options given below:

Match List-I with List-II

List-I (Name of account to be debited or credited, when shares are forfeited)	List-II (Amount to be debited or credited)
(A) Share Capital Account	(I) Debited with amount not received
(B) Share Forfeited Account	(II) Credited with amount not received
(C) Calls-in-arrears Account	(III) Credited with amount received towards share capital
(D) Securities Premium Account	(IV) Debited with amount called up

Choose the correct answer from the options given below:

Arrange the following in the correct order:
(A) Subscribed Capital
(B) Issued Capital
(C) Authorised Capital
(D) Paid-up Capital
(E) Called-up Capital

400 shares of ₹50 each issued at par were forfeited for non-payment of final call of ₹10 per share. These shares were reissued at ₹45 per share as fully paid-up. The amount transferred to capital reserve is

Pass Journal entries relating to the issue of debentures in the books of Novex Ltd. in each of the following cases:

1. Issued 30,000, 10% Debentures of Rs.100 each at a premium of 10%, redeemable at par.
2. Issued 4,000, 10% Debentures of Rs.100 each at a premium of 15%, redeemable at a premium of 10%.
3. Issued 5,000, 10% Debentures of Rs.100 each at a discount of 5%, redeemable at a premium of 10%.

Dove Ltd. issued 8,000, 11% debentures of Rs.100 each at a premium of 5%. The total amount of interest on Debentures for one year will be:

Aarav Ltd. issued 10,000, 9% debentures of Rs.100 each at a premium of 5%, redeemable at a premium of 10%. Loss on issue of debentures account will be debited by:

Pass necessary journal entries relating to the issue of debentures and to write off discount/loss on issue of debentures in the books of Ajanta Ltd. in the following cases: 200, 9\% debentures of \rupee1,000 each are issued at 10\% discount and redeemable at par. Balance in Securities Premium account is \rupee15,000. 300, 11\% debentures of \rupee1,000 each are issued at 5\% discount and redeemable at a premium of 10\%. Balance in Securities Premium account is \rupee35,000.

Assertion (A): Interest on bearer debentures is paid to a person who produces the interest coupon attached to such debentures. Reason (R): Bearer debentures are transferred by way of delivery, and the company does not keep any record of these debenture holders. Choose the correct option from the following:

On 1\textsuperscript{st May, 2023, Amrit Ltd. issued 10,000, 10\% debentures of \rupee100 each at a premium of 10\%, redeemable at a premium of 10\%. Loss on issue of debentures will be:}

On 1^st May, 2023, Amrit Ltd. issued 10,000, 10% debentures of ₹100 each at a premium of 10%, redeemable at a premium of 10%. Loss on issue of debentures will be:

Pass necessary journal entries relating to issue of debentures and to write off discount/loss on issue of debentures in the books of Dhatu Ltd. in the following cases: 400, 11\% debentures of \rupee 1,000 each are issued at 10\% discount and redeemable at par. Balance in Securities Premium Account is \rupee 50,000. 500, 10\% debentures of \rupee 1,000 each are issued at 10\% discount and redeemable at a premium of 10\%. Balance in Securities Premium Account is \rupee 75,000.