DELHI PUBLIC SCHOOL RUBY PARK, KOLKATA

23)4/14
Unit Test I, 2014 - 2015
CLASS - XII

Time: 1 Hrs. Subject: Accountancy Maximum Marks: 25

Q)What is Private Placement of Shares?
Q2) Define Shares. [1]

Q3) What are Preliminary Expenses?

Q4) Differentiate between Reserve Capital and Capital Reserve. [21

Q5)Alpha Ltd authorised with 50,00,000 capital of equity shares of 10 each, issued 3,00,000 shares for
public subseription at a discount of 20%, payable as

On application 4, On allotment 1,On first and final cail R3.

one shareholder
Allshares were subscribed. Application and Allotment money were duly received except for
to be made.
who didn't pay the allotment money on 1000 shares. The first and final call is yet
to Revised Schedule VI of
Show how Shareholder's Fund will be shown in the Balance Sheet according
Company's Act of 1956. [4]

O6) Beta Ltd purchased assets of 80,00,000 and liabilities of 20,00,000 for a purchase consideration of
70,00,000. The company paid 20,50,000 by cheque and for the balance issued equity shares ofY 100 at a
premium of 25o. 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 3payable as ?3 on
application, 5 on allotment and 2.50 on first call and 2.50 on final call. Applications were received for
I,20,000 shares. 20,000 applications were rejected. Allmoney were duly received except I" callmoney on
2000 shares and 2d call money on 2500 shares. Show the necessary journal entries and the Cash Book.
[61
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)

F15 on 2d call (1 February 2014)

the 2hd call money
Allshares were aliotted and the amount duly received except A holding 2000 shares paid
along with 1" call and B holding 750 shares paid the 1 call money along with 2 call.
-advance & calls -in-arrears
Pass the necessary journals for payment and receipt of interest on calls-in year on
respectively. Interest was paid and received on 1# February 2014. Company closes its books every
[6]
31" March.