Accounting for Companies (CBSE Class-12 Accountancy): Questions 16 - 19 of 21

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Question number: 16

» Accounting for Companies » Accounting for Share Capital » Share and Share Capital

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What maximum amount of discount can be allowed on the reissue of forfeited shares?

Question number: 17

» Accounting for Companies » Accounting for Share Capital » Accounting for Share Capital

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New India Ltd. forfeited 100 shares of Rs. 10 each, issued at a discount of 10%. The company had called up only Rs. 8 per share. Final call of Rs. 2 each has not been made on these shares. These shares were allotted to Ram, who did not pay the first call of Rs. 3.60 shares were reissued at Rs. 7 per share, as Rs. 8 paid up. Give Journal entries in the books of the company, showing the working clearly.

Question number: 18

» Accounting for Companies » Accounting for Share Capital » Share and Share Capital

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What is Sweat Equity?

Question number: 19

» Accounting for Companies » Accounting for Debentures » Debentures

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On 1 Jan. 2001, a company issued 1000, 12 % debentures of Rs. 500 each at Rs. 450 each. Debenture holders were given an option to get their debentures converted into equity shares of Rs. 10 each at a premium of Rs. 50 per shares on 31sdt Dec, 2002, One year’s interest had accrued on these debentures which was not paid. A holder of 100 debentures informed that he wanted to exercise the option per conversion of debentures into equity shares. The company, therefore accepted his request and redeemed these 100 debentures by issuing him equity shares. The interest, however, on these 100 debentures was paid to the debenture holders. Pass necessary journal entries.

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