23/4|14

DELHI PUBLIC SCHOOL RUBY PARK, KOLKATA

Unit Test I, 2014 - 2015
CLASS - XII
Maximum Marks: 25
Time: 1 Hrs. Subiect: Accountancy
[1]
Ql) What is Private Placement of Shares?
Q2) Define Shares. [1]

Q3) What are Preliminary Expenses? [1]

E

Q4) Differentiate between Reserve Capital and Capital Reserve.

[2]
issued3,00,000 shares for
Q5) Alpha Ltd authorised with 50,00,000 capital of cquity shares of10 each,
public subseription at a discount of 20%, payable as
On application 4, On allotment 1, On first and final call 3.
except for one shareholder
All sharcs were subscribed. Application and Allotment money were duly received
yet to be made.
who didn't pay the allotment money on 1000 shares. The first and final call is
to Revised Schedule VI of
Show how Shareholder's Fund will be shown in the Balance Sheet according
Company's Act of 1956. [4]

Q6) Beta Ld purchased assets of T80,00,000 and liabilities of R20,00,000 for a purchase consideration of
R70,00,000. The company paid 20,50,000 by cheque and for the balance issued equity shares of ? 100 at a
premium of 25%. Pass the necessary journal entries in the books of Beta Ltd. [41

Q7)Gamma Ltd invited applications of 1,00,000 shares of T10 each at apremium of 33payable as 3 on
application, 5on allotment and $2.50 on first call and 2.50 on final call. Applications were received for
1,20,000 shares. 20,000 applications were rejected. All money were duly received except 1" call money on
2000 shares and 2rd call money on 2500 shares. Show the necessary journal entries and the Cash Book.
[6]
Q8) Neutrino Ltd issued 1,00,000 equity shares of? 100 each payable as
20 on application (1 May 2013),
25 on allotment (1 June 2013)
30 on I call (1* Nov 2013)
15 on 2d call (1 February 2014)
All shares were allotted and the amount duly received except Aholding 2000 shares paid the 2d call money
along with 1" call andB holding 750shares paid the 1* call money along with 2 call.
Pass the necessary journals for payment and receipt of interest on calls-in -advance &calls -in-arrears
respectively. Interest was paid and received on 1* February 2014. Company closes its books every year on
31 March. [6]