Practice At Premium - 2.2.3.2 | 2. Joint Stock Company Accounts | ICSE Class 12 Accounts
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Practice Questions

Test your understanding with targeted questions related to the topic.

Question 1

Easy

Define equity shares?

💡 Hint: Think about how their return is related to company performance.

Question 2

Easy

What does 'issue price' refer to?

💡 Hint: It's not always the same as face value.

Practice 4 more questions and get performance evaluation

Interactive Quizzes

Engage in quick quizzes to reinforce what you've learned and check your comprehension.

Question 1

What are equity shares?

  • A type of shares with fixed dividend
  • A type of shares without fixed dividend
  • A loan certificate

💡 Hint: Remember how they reflect ownership in a company.

Question 2

Shares can be issued at which of the following prices?

  • Only at par
  • Only at premium
  • At par
  • premium
  • or discount

💡 Hint: Think about the different ways a company might raise capital.

Solve 2 more questions and get performance evaluation

Challenge Problems

Push your limits with challenges.

Question 1

A joint stock company issues 5,000 equity shares of ₹20 at a premium of ₹4. Prepare journal entries for application, allotment, and premium amount.

💡 Hint: Break it down into each stage of the share issuance.

Question 2

Discuss the impact on financial statements when a company forfeits shares and later reissues them at a discount.

💡 Hint: Consider the balance sheet and income statement implications.

Challenge and get performance evaluation