Scribd
Upload
598 views2 pages

Accounting Icom Part 2

This document contains an accounting exam for a student. It has 4 questions: 1) A multiple choice question with 10 accounting terms to identify. 2) A definitions question asking the student to define 7 accounting terms. 3) A journal entries question involving the registration and share issuance of Pak Limited company. 4) A debentures question requiring the student to record 3 journal entries for different debenture issuances.

Uploaded by

Ayman Chishty
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOC, PDF, TXT or read online on Scribd
598 views2 pages

Accounting Icom Part 2

This document contains an accounting exam for a student. It has 4 questions: 1) A multiple choice question with 10 accounting terms to identify. 2) A definitions question asking the student to define 7 accounting terms. 3) A journal entries question involving the registration and share issuance of Pak Limited company. 4) A debentures question requiring the student to record 3 journal entries for different debenture issuances.

Uploaded by

Ayman Chishty
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOC, PDF, TXT or read online on Scribd
You are on page 1/ 2

Objective

SUPERIOR GROUP OF COLLEGES Test# 3


INTERMEDIATE
CLASS SUBJECT ACCOUNTING TOTAL MARKS 40
PART-II
DATE SYLLABUS CH# 4 TIME ALLOWED 01:30 Hours
STUDENT
ROLL NO. SECTION
NAME
Total Marks: 40
Question No. 1: Select the correct answer and encircle it. (10 Marks)
1: the official signature of the company is called:
a) shares b) Debenture c) common seal d) prospectus
2: the person who purchased shares of the company is called :
a) shareholder b) promoters c) Debenture holder d) Agent
3: private company directors should be:
a) 4 b) 2 c) 3 d) 7
4: one of the unit into which the capital of the company is divided is called:
a) Debenture b) shares c) Dividend d) prize bonds
5: prospectus for sale of shares is issued by a:
a) Private company b)public company c)both public and private d) none of these
6: shares issue at printed price is called:
a) At par b) at premium c) at discount d) none of these
7: Memorandum of association is important document of:
a) partnership b)sole proprietorship c)corporate society d) Company
8: Authorized capital is also called :
a) nominal capital b)working capital c)unregistered capital d) oversubscribed
9: Assets bought by partners are recorded at :
a) book value b) market value c) Agreed value d) face value
10: Discount on issue of shares is a loss of :
a) capital b) revenue c)un expenditure d) none of these

Question No. 2: Define the following terms: (14 Marks)

1) what is statement of Lieu in prospectus ?

2) Define preferred shares?

3) Define Limited company by guaranty ?

4) Who is promotors ?

5) Define redeemable debentures ?

6) What is dividend ?

7) Define directors

Question No. 3: (08 Marks)


Pak limited registered with an authorized share capital of 8000 shares each Rs.10. The company issued
7000 shares% the public subscribed for 9000 shares. All the money were duly receive and over
application being refunded .

Required: record in journal and prepare balance sheet

Question No. 4: (08 Marks)


.(a) A company issued 1000 6% debenture of Rs. 100 each at par
.(b) A company issued 1000 6% debenture of Rs. 100 each at 10% premium
.(c) A company issued 1000 6% debenture of Rs. 100 each at 10% discount

Required: pass the necessary journal entries.

You might also like