PMPML Recruitment 2017 for 8040 Driver, Conductor & Cleaner Post @www.pmpml.org

61. Current Ratio is 3•75, Acid Test Ratio is 1•25 Stock Rs. 3,75,000, calculate working capital.
(A) Rs. 3,00,000
(B) Rs. 4,00,000
(C) Rs. 4,12,500
(D) Rs. 4,25,000
Ans : (C)

62. From the information given below, calculate Debt service coverage Ratio—
Net profit after interest and Tax Rs. 40,000, Depreciation Rs. 5,000, Rate of Income Tax 50%, 10% Mortgage Debentures Rs. 60,000. Fixed Interest Charges Rs. 6,000, Debenture Redemption Fund Appropriation of Outstanding Debentures 10%.
(A) 4•06 times
(B) 5•06 times
(C) 6•06 times
(D) 7•06 times
Ans : (A)

63. Share premium account can be used for—
(A) Paying tax liability
(B) Meeting the cost of issue of shares or debentures
(C) Paying Dividend on shares
(D) Meeting the loss on sale of old asset
Ans : (B)

64. Ploughing-back of profits means—
(A) Dividend declared but not claimed by shareholders
(B) Non-declaration of dividend in any year
(C) Profits earned from illegal sources and employed in business
(D) Retaining the earnings of business for future expansion programme
Ans : (D)

65. As per Schedule VI of the Companies’ Act, 1956, Forfeited Share Account will be—
(A) Added to paid up capital
(B) Deducted from called up capital
(C) Added to capital reserve
(D) Shown as a revenue reserve
Ans : (B)

66. A company invited application for subscription of 5,000 shares. The application were received for 6,000 shares. The shares were allotted on pro-rata basis. If X has applied for 180 shares how many shares would be allotted to him ?
(A) 180 shares
(B) 200 shares
(C) 150 shares
(D) 175 shares
Ans : (C)

67. Consider the following information pertaining to K Ltd. on September 4, 2005, the company issued 12,000 7% debentures having a face value of Rs. 100 each at a discount of 2•5%. On September 12, the company issued 25,000 preference shares of Rs. 100 each. On September 29, the company redeemed 30,000 preference shares of Rs. 100 each at a premium of 5% together with one month dividend @ 6% p.a. thereon. Bank balance on August 31, 2005 was Rs. 30,00,000. After effecting the above transaction, the Bank Balance as on September 30, 2005 will be—
(A) Rs. 35,15,000
(B) Rs. 33,80,000
(C) Rs. 33,45,000
(D) Rs. 35,05,000
Ans : (A)

68. The balance appearing in the books of a company at the end of year were CRR A/c Rs. 50,000, Security Premium Rs. 5,000, Revaluation Reserve Rs. 20,000, P & L A/c (Dr) Rs. 10,000. Maximum amount available for distribution of Bonus Share will be—
(A) Rs. 50,000
(B) Rs. 55,000
(C) Rs. 45,000
(D) Rs. 57,000
Ans : (B)

69. R. G. Ltd. purchased machinery from K.G. Company for a book value of Rs. 4,00,000. The consideration was paid by issue of 10%. Debenture of Rs. 100 each at a discount of 20%. The debenture account will be credited by—
(A) Rs. 4,00,000
(B) Rs. 5,00,000
(C) Rs. 3,20,000
(D) Rs. 4,80,000
Ans : (A)

70. Depletion method of depreciation is used in case of—
(A) Cattle, Loose Tools, etc.
(B) Mines, Quarries, etc.
(C) Machinery, Building, etc.
(D) Books
Ans : (B)

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