Mcmid 6/3027&page 4 Question 25 Not yet answered Marked out of 2.00 p Flag question Calcutta Limited had 10.000,6% Redeemable Preference Shares of $100 each. These shares were due for redemption on 31.0 2020 at a premium of 10 %. It was decided by the company to issue the following: carry out the redemption the company issued 2.500 Equity shares of $100 each at a premium of 7,5% The company had a balance of $50,000 in securities premium account and $975.000 in profit and loss account 1. For Redeemable Preference Share Capital and Premium Payable on Redemption: O a. Redeemable Preference Share Capital 1,000,000 Premium on Redemption of Preference Shares 100.000 To Preference Shareholders Account 1.100.000 Ob. Share Application 1,100,000 To Share Capital Account 100.000 To Securities Premium Account 1.000.000 O Preference Shareholders Account 1.100.000 To Redeemable Preference Share Capital 1.000.000 To Premium on Redemption of Preference Shares 100.000 d. None Question 26 Not yet answered Marked out of 2.00 p Flag question 2. For Adjustment of Premium Payable on Redemption: a. None O b. Share Application 100,000 To Securities Premium Account 100,000 oc Premium on Redemption of Preference Shares 100,000 To Statement of Profit and Loss 100,000 O d. Statement of Profit and Loss 100.000 To Premium on Redemption of Preference Shares 100.000 Question 27 Not yet answered Marked out of 2.00 Flag question Question 27 Not yet answered Marked out of 2.00 Flag question 3. New Issue of Shares at a Premium: O a. None O b. Bank Account 268,750 To Share Capital Account 250.000 To Securities Premium Account 18,750 O Share Application 268.750 To Share Capital Account To Securities Premium Acc 250.000 18,750 Share Capital Account 250.000 Securities Premium Account 18.750 To Bank account 268.750 Question 28 Not yet answered Marked out of 2.00 P Flag question 4. For Transfer to Capital Redemption Reserve: O a None YAKT O b. Profit and Loss 250,000 To Capital Redemption Reserve 250.000 SIT O C. Profit and Loss 750.000 To Capital Redemption Reserve 750.000 d. Capital Redemption Reserve 750,00 To Profit and LOSS 750.000 Question 29 Not yet answered Marked out Flag question Question 29 Not yet answered Marked out of 2.00 P Flag question 5. For Payment to Pref. Shareholders: a. Bank Account 1,100,000 To Share Capital Account 1.100,000 O b. Share Capital Account 1.100.000 To Bank Account 1.100.000 c. None d. Redeemable Preference Share Capital 1.100.000 To Redeemable preference Shareholders 100.000 Question 2 Question 30 Not yet answered Marked out of 2.00 P Flag question Premium on issue of debentures is to be credited to O a. share capital A/C Ob. debentures premium A/C C. securities premium A/C d. None Previous page Question 31 NOE yet answered Marked out of 2.00 P Flag question Premium on redemption of preference shares can be provided out of securities premium A/c. Select one: O True O False Question 32 Not yet answered Marked out of 2.00 P question Unlimited Company defines that companies have limited liability Select one: True False Flag question Question 33 Not yet answered Marked out of 2.00 p Flag question In a privet company the shares are freely transferrable. But public not freely. Select one: O True O False Question 34 Not yet answered Marked out of 2.00 P Flag question Government Company: which the Government holds share capital less than 51%. Select one: True false O False Question 35 Not yet answered Marked out of 2.00 P Flag question Paid-Up Capital: is the actual amount received from the Called-Up Capital. Select one: O True O False Previous page
