CBSE Class 12 Accountancy Company Accounts Worksheet Set A

Read and download free pdf of CBSE Class 12 Accountancy Company Accounts Worksheet Set A. Students and teachers of Class 12 Accountancy can get free printable Worksheets for Class 12 Accountancy in PDF format prepared as per the latest syllabus and examination pattern in your schools. Standard 12 students should practice questions and answers given here for Accountancy in Grade 12 which will help them to improve your knowledge of all important chapters and its topics. Students should also download free pdf of Class 12 Accountancy Worksheets prepared by school teachers as per the latest NCERT, CBSE, KVS books and syllabus issued this academic year and solve important problems provided here with solutions on daily basis to get more score in school exams and tests

Company Accounts Class 12 Accountancy Worksheet Pdf

Class 12 Accountancy students should refer to the following printable worksheet in Pdf for Company Accounts in standard 12. This test paper with questions and answers for Grade 12 Accountancy will be very useful for exams and help you to score good marks

Class 12 Accountancy Worksheet for Company Accounts

CBSE Class 12 Accountancy Worksheet - Company Accounts (Shares). CBSE issues sample papers every year for students for class 12 board exams. Students should solve the CBSE issued sample papers to understand the pattern of the question paper which will come in class 12 board exams this year. The sample papers have been provided with marking scheme. It’s always recommended to practice as many CBSE sample papers as possible before the board examinations. Sample papers should be always practiced in examination condition at home or school and the student should show the answers to teachers for checking or compare with the answers provided. Students can download the sample papers in pdf format free and score better marks in examinations. Refer to other links too for latest sample papers.

TOPIC – COMPANY ACCOUNTS (SHARES)

MCQ Questions for NCERT Class 12 Accountancy Company Accounts

Question. If applicants for 80,000 shares were allotted 60,000 shares on pro rata basis , the shareholders who was allotted 1,200 shares must have applied for:
(a) 900 shares
(b) 3,600 shares
(c) 1,600 shares
(d) 4,800 shares

Answer: C

Question. If shares of Rs 4,00,000 are issued for purchase of assets of Rs 5,00,000, Rs 1,00,000 will be treated as ..........
(a) Discount
(b) Premium
(c) Profit
(d) Loss

Answer: B

Question. Who are the real owners of the Company?
(a) Government
(b) Board of directors
(c) Equity shareholders
(d) Debenture holders

Answer: C

Question. Maximum number of members in a private Company is :
(a) 7
(b) 200
(c) 20
(d) No limit

Answer: B

Question. 600 shares of Rs 10 each were forfeited for non payment of Rs 2 per share on first call and Rs 5 per share on final call. Share forfeiture account will be credited with:
(a) Rs 1,200
(b) Rs 1,800
(c) Rs 3,000
(d) Rs 4,200

Answer: B

Question. In case of private placement of shares to raise capital a company:
(a) Invite the public through prospectus
(b) Does not invite the public
(c) Invite the public through advertisement
(d) None of the above

Answer: B

Question. Forfeiture of shares result in reduction of :
(a) Subscribed capital
(b) Authorised capital
(c) Reserve capital
(d) None of the above

Answer: A

Question. If the premium on forfeited shares has already been received , then securities premium A/c should be:
(a) Credited
(b) Debited
(c) No treatment
(d) None of these

Answer: C

Question. As per SEBI Guidelines , Application money should not be less than ....... ..of the issue price of each shares:
(a) 10%
(b) 15%
(c) 25%
(d) 50%

Answer: C

Question. Issued 20,000 , 12% debenture of Rs 100 each at a premium of 4%, redeemable at a premium of 10%. In such case:
(a) Loss on issue will be debited by Rs 1,20,000
(b) Loss on issue will be debited by Rs 2,00,000
(c) Loss on issue will be debited by Rs 2, 88,000
(d) None of the above

Answer: B


Fill in the blanks:

Question. Share capital of a company is divided into small units. Each such unit is called .......
Answer: Shares

Question. .............. Shareholders are given dividend at a fixed rate.
Answer: Preference shareholders

Question. A ........... Company is one which restricts the rigt to transfer its shares.
Answer: Private Ltd Company

Question. Actual number of shares offered to the public for subscription is known as ...........
Answer: Issued capital

Question. At the time of forfeiture of shares , Share capital account will be debited with ........ value
Answer: Called up value of shares

Question. A private Ltd. Company with only one person as its members is called .............
Answer: One person company (OPC)


True or False :

Question. Pro rata allotment is made in case of over subscrriptions 
Answer:
 True

Question. Shares cannot be issued at discount 
Answer: 
True

Question. Equity shareholders are the creditors of the Company
Answer:
 True

Question. Application money should not be less than 25% of the face value of shares 
Answer:
 True

Question. Promoters are the owners of the Company 
Answer:
False

 

Q 1 Differentiate between ‘Reserve capital’ & ‘Capital reserve’.

Q 2 What is meant by :

Unlimited liability ;

Minimum subscription ;

Forfeiture of shares ;

Calls in arrears ;

Calls in advance

Q 3 What is the minimum price at which a company can re-issue its shares. Explain taking an illustration.

Q 4 A company wants to purchase building from its securities premium amount. Can it do so? Give reasons in support of your answer.

Q 5 Is calls in advance part of company’s share capital?

Q 6 A co. issued 15000 fully paid up equity shares of Rs 100 each for the purchase of the following assets 7 liabilities from Gupta Brothers: Plant Rs 3,50,000 ; Land & building Rs 6,00,000 ; Stock in trade Rs 4,50,000 ; Sundry creditors Rs 1,00,000. Pass the necessary journal entry.

Q 7 X Ltd. issued equity shares of Rs 10 each at a premium of 2.50 per share. The amount was payable as follows:

On application-Rs 2; On allotment -Rs 4.50 ; On call-Rs 6 Owing to heavy subscription the allotment was made on pro-rata basis as follows:

(a) Applicants for 20000 shares were allotted 10000 shares

(b) Applicants for 56000 shares were allotted 14000 shares

Please click the link below to download full pdf file for CBSE Class 12 Accountancy Worksheet - Company Accounts (Shares).

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CBSE Class 12 Accountancy Company Accounts Worksheet Set A
CBSE Class 12 Accountancy Company Accounts Worksheet Set B
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CBSE Class 12 Accountancy Share Capital Worksheet Set A
CBSE Class 12 Accountancy Share Capital Worksheet Set B
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CBSE Class 12 Accountancy Financial Statements Of Company Worksheet Set A
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Part 2 Chapter 4 Analysis of Financial Statements
CBSE Class 12 Accountancy Analysis Of Financial Statements Worksheet
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Part 2 Chapter 5 Accounting Ratios
CBSE Class 12 Accountancy Ratio Analysis Worksheet
Part 2 Chapter 6 Cash Flow Statement
CBSE Class 12 Accountancy Cash Flow Statement Worksheet Set A
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