1. Following notes relate to the Balance Sheet of Mark Ltd. as at 31st March, 20X1

Approved capital: $

30,000 12% Preference portions of $10 each 3,45,000

3,00,000 Equity portions of $ 10 each 30,00,000

33,00,000

Given and Subscribed capital:

24,000 12% Preference portions of $ 10 each completely paid 2,40,000

2,70,000 Equity portions of $10 each, $ 8 settled up 21,60,000

Stores and excess:

General Reserve 3,60,000

Capital Redemption Reserve 1,20,000

Protections premium (gathered in real money) 75,000

Benefit and Loss Account 6,00,000

On first April, 20X1, the Company has settled on official choice @ $2 each on 2,70,000 value

shares. The call cash was gotten by twentieth April, 20X1. From that point, the organization

chosen to underwrite its stores via reward at the pace of one offer for each

four offers held.

Show important diary passages in the books of the organization and set up the concentrate

of the asset report as on 30th April, 20X1 after reward issue.

2. Which of the accompanying assertion is right?

(A)The measure of Goodwill or Capital Reserve is discovered in the books of buying organization as it were

(B)The measure of Goodwill or Capital Reserve is discovered in the books of merchant organization as it were.

(C)Goodwill = Net Assets - Purchase cost

(D)The face estimation of portions of buying organization will be considered while ascertaining buy thought.

3. On the off chance that the two organizations have distinctive bookkeeping arrangements in regard of a similar thing, at that point they roll out fundamental improvements to adopt.............. Bookkeeping arrangements.

(A)Lifo strategy

(B)Fifo strategy

(C)Weighted strategy

(D)Uniform

4. The Amalgamation Adjustment Account shows up in the books, it is appeared under the heading of ......... yet to be determined sheet.

(A)Reserve and Surplus

(B)Fixed Assets

(C)Investments

(D)Miscellaneous use

5. On the off chance that combination is in the ..............., the General Reserve or Profit and Loss A/c equilibrium will not be appeared yet to be determined sheet.

(A)Form of Merger

(B)Form of procurement

(C)Net resources technique

(D)Consideration technique

6. On the off chance that the natural estimations of offers traded are not equivalent, the thing that matters is paid in ...........

(A)Cash

(B)Debenture

(C)Pref. share

(D)Assets

7. If there should arise an occurrence of .............., one existing organization assumes control over the matter of another organization and no new organization is shaped.

(A)Amalgamation

(B)Absorption

(C)Reconstruction

(D) None of the Above

8. In combination of two organizations

(A)Both organizations lose their reality

(B)Both organizations proceed

(C)Any one organization proceeds

(D)None of the abovementioned

9. When buying organization pays buy thought, it will be charged to

(A)Business buy account

(B)Assets account

(C) Liquidator of selling organization's record

(D)None of the abovementioned

10. At the point when the buying organization bears the liquidation costs, it will charge the costs to

(A)Vendor Company's Account

(B) Bank Account

(C)Goodwill Account

(D)None of the abovementioned