HSC Commerce: Marketing and Salesmanship इयत्ता १२ वी - Maharashtra State Board Important Questions

Joshi - Patil Ltd. issued 2,000, 10% debentures of Rs. 100 each, payable Rs. 20 on application and the balance on allotment. Company received applications for 2,500 debentures, out of which applications for 2,000 were alloted fully and remaining applications were rejected and the money refunded.

Journalise the above transactions, assuming that all the sums were received.

_______ is an acknowledgement of debt under common seal of a company.

Cash proceeds from the issue of debentures is a _______ activity.

Give the word / term or phrase which can substitute the following statement.

The debentures which are converted into shares.

Answer the following question in one sentence.

What are ‘convertible debentures’?

State whether you agree or disagree with following statement:

Directors can re-issue forfeited shares.

State whether you agree or disagree with following statement:

Directors can re-issue forfeited shares.

Vraj Ltd. issued 40,000 equity shares of ₹ 20 each payable as follows:

On Application: ₹ 4

On Allotment: ₹ 6

On First Call: ₹ 6

On Second Call: ₹ 4

The company received applications for 50,000 equity shares. Allotment of shares was made on pro-rata basis. Share allotment and calls were made and as also received except Ravi holding 100 shares failed to pay both the calls. His shares were forfeited after second call.

Record the above transactions in the books of Vraj Ltd.

Vraj Ltd. issued 40,000 equity shares of ₹ 20 each payable as follows:

On Application: ₹ 4

On Allotment: ₹ 6

On First Call: ₹ 6

On Second Call: ₹ 4

The company received applications for 50,000 equity shares. Allotment of shares was made on pro-rata basis. Share allotment and calls were made and as also received except Ravi holding 100 shares failed to pay both the calls. His shares were forfeited after second call.

Record the above transactions in the books of Vraj Ltd.

The Subscribed Capital of Parag Limited is 30,000 equity shares of ₹ 100 each and 50,000 preference shares of ₹ 100 each. On both of these shares ₹ 80 per share were called-up.

The Directors forfeited 500 equity shares held by Ashish who failed to pay First and Second Call each of ₹ 20 per share. They also forfeited 500 preference shares of Ashok who failed to pay ₹ 20 per share on Allotment, ₹ 20 per share on First call and ₹ 20 per share on Second call.

The Director re-issued these forfeited shares of Ashish at ₹ 60 per share, ₹ 80 paid up and those of Ashok at ₹ 72 per share ₹ 80 paid up. All re-issued shares were taken up by Anagha.

Pass Journal entries to record the forfeiture and re-issue of shares in the books of Parag Ltd.

The Subscribed Capital of Parag Limited is 30,000 equity shares of ₹ 100 each and 50,000 preference shares of ₹ 100 each. On both of these shares ₹ 80 per share were called-up.

The Directors forfeited 500 equity shares held by Ashish who failed to pay First and Second Call each of ₹ 20 per share. They also forfeited 500 preference shares of Ashok who failed to pay ₹ 20 per share on Allotment, ₹ 20 per share on First call and ₹ 20 per share on Second call.

The Director re-issued these forfeited shares of Ashish at ₹ 60 per share, ₹ 80 paid up and those of Ashok at ₹ 72 per share ₹ 80 paid up. All re-issued shares were taken up by Anagha.

Pass Journal entries to record the forfeiture and re-issue of shares in the books of Parag Ltd.

Balance sheet is a nominal account.

State the objectives of financial statements from the view point of a business concern.

What do you mean by Analysis of Financial Statement?

State true or false with reason.

Gross Profit depends upon Net Sales.

State and explain any 'four objectives' of analysis of financial statement from a business concern's point of view.