Accounting - Study Mode
[#2041] X Ltd allotted 25,000 equity shares to the applicants of 36,000 shares for Rs. 10 each on pro-rata basis. A applied for 1800 equity shares. Shares allotted to him are . . . . . . . . and he had paid an application money of Rs. 5 per share . . . . . . . . is the excess amount received that can be utilised towards allotment money.
Correct Answer
(B) 1,250 shares, Rs. 2,750
[#2042] Payment to creditors results in-
Correct Answer
(D) Decrease in total liabilities and total assets
[#2043] Which of the following is correct if there is mutual indebtedness between the transferor company and the transferee company in a business combination?
Correct Answer
(A) No adjustment is required in the books of the transferor company
[#2044] A piece of land was given to a firm free of cost six months back. Its fair value then was Rs. 12 lakhs and now it is worth Rs. 14 Lakhs. Under the conventional accounting system it will be reported in the Balance Sheet as on today at:
Correct Answer
(A) 12 lakhs
[#2045] The current ratio of a firm is 5 : 3. Its working capital is Rs. 20,000. The value of its current assets will be:
Correct Answer
(B) Rs. 50,000