List of practice Questions

Total number of shares into which the authorised share capital of the company is divided is:
Total amount of ‘Subscribed and fully paid-up’ capital will be:
Roshni Ltd. purchased machinery worth 1,98,000 from Prakash Ltd. The purchase consideration was paid by issue of 8% debentures of 100 each at 10% discount. (i) Calculate the number of debentures issued.
(ii) Pass necessary journal entries for purchase of machinery and issue of debentures.
Sana and Rajesh were partners in a firm sharing profits and losses in the ratio of 4 : 3. They admitted Sonu into partnership for \(\frac{1}{5}\) share in the profits of the firm. Goodwill of the firm was to be valued at three years’ purchase of super-profits. Average net profit of the firm was 80,000. Capital employed in the business was 2,00,000 and normal rate of return was 10%. Calculate the amount of goodwill premium brought by Sonu.

Jain and Gupta were partners in a firm sharing profits and losses in the ratio of 7 : 3. On 31st March, 2024, the firm was dissolved. After transferring various assets (other than cash 6,400) and the third-party liabilities to Realisation Account, the following transactions took place:

  • [(i)] Debtors 80,000 were taken over by a debt collection agency at 10% discount.
  • [(ii)] Creditors amounting to 40,000 were taken over by Jain.
  • [(iii)] Realisation expenses amounted to 5,100, which were paid by Gupta.

Pass necessary journal entries for the above transactions in the books of Jain and Gupta.

MK Ltd. forfeited 100 shares of 10 each. The amount forfeited was 800. The maximum discount per share at which these shares may be reissued will be:
Raja Ltd. issued 8,000, 10% Debentures of 100 each at 98 per debenture. 10% Debentures Account will be credited by:
Jayant, Vijayant and Anant were partners in a firm sharing profits and losses in the ratio of 3 : 2 : 1. With effect from 1st April, 2024, they decided to share the profits in the ratio of 5 : 3 : 2. For this purpose, the goodwill of the firm was valued at 6,00,000. The partners decided to treat goodwill without opening goodwill account.
By what amount will the partners’ accounts be debited or credited?
X Ltd. forfeited 100 shares of 100 each for non-payment of the allotment money of 15 per share (including premium 5). The first and final call of 50 per share was not yet made. The amount that was debited to share capital account was:
There are two statements Assertion (A) and Reason (R):
Assertion (A): Private assets of a partner can also be used for paying off the firm’s debts.
Reason (R): Liability of a partner for acts of the firm is limited.
Choose the correct alternative from the following:
The amount of share capital which a company is authorised to issue by its Memorandum of Association is known as:
Y Ltd. issued 1,000 debentures of Rs 100 each at par, redeemable at a premium of 10 percent. Pass journal entries for issue and redemption.
X Ltd. issued 10,000 equity shares of Rs 10 each at a premium of Rs 2 per share. Amount payable: Rs 4 on application, Rs 5 on allotment (including premium), and Rs 3 on first & final call. All shares were subscribed and money received. Pass journal entries.
Calculate Current Ratio and Quick Ratio from the following:
- Current Assets: Rs 2,50,000
- Inventory: Rs 70,000
- Prepaid Expenses: Rs 10,000
- Current Liabilities: Rs 1,00,000
From the following details, calculate Cash Flow from Investing Activities: - Purchase of Machinery Rs 1,50,000
- Sale of Land Rs 80,000
- Purchase of Investments Rs 50,000
- Interest received Rs 8,000
A, B and C are partners sharing profits in the ratio 3:2:1. C retires and his share is taken equally by A and B. The goodwill of the firm is valued at Rs 60,000. Pass journal entry for goodwill adjustment without raising Goodwill A/c.
If \(\sin \theta = \frac{1}{9}\), then \(\tan \theta\) is equal to

A wheel of mass \( 4M \) and radius \( R \) is made of a thin uniform distribution of mass \( 3M \) at the rim and a point mass \( M \) at the center. The spokes of the wheel are massless. The center of mass of the wheel is connected to a horizontal massless rod of length \( 2R \), with one end fixed at \( O \), as shown in the figure. The wheel rolls without slipping on horizontal ground with angular speed \( \Omega \). If \( \vec{L} \) is the total angular momentum of the wheel about \( O \), then the magnitude \( \left| \frac{d\vec{L}}{dt} \right| = N(MR^2 \Omega^2) \). The value of \( N \) (in integer) is:


 

What is the pH of a 0.01 M solution of HCl?
Calculate the packing efficiency in a face-centered cubic (FCC) crystal.
Write the IUPAC name of the compound: \[ \text{CH}_3-CH_2-CH(CH_3)-CH_2-CH_2-CH_3 \]
Write balanced chemical equations for the following:
(a) Reaction of white phosphorus with chlorine
(b) Reaction of orthophosphoric acid on heating
Calculate the EMF of the cell:
Zn(s) | Zn\(^{2+}\) (0.1 M) || Cu\(^{2+}\) (1.0 M) | Cu(s)
Given: \( E^\circ_{\text{Zn}^{2+}/\text{Zn}} = -0.76\,V \), \( E^\circ_{\text{Cu}^{2+}/\text{Cu}} = +0.34\,V \)
Calculate the molality of a solution prepared by dissolving 5 g of NaOH in 450 g of water. (Molar mass of NaOH = 40 g/mol)

Match the List-I with List-II: