# CIE Accounting Paper-1: Specimen Questions with Answers 137 - 139 of 214

## Question number: 137

### Write in Short

Calculate the preference dividend when limited company issued 2000 number of Preference Shares with a cost of \$2 per each share. The dividend rate is fixed at 5 % per year.

### Explanation

Dividend is usually calculated on the total value of preference share of the limited company. Hence, preference dividend is

## Question number: 138

### Write in Short

Complete the amount and quantity of the following Ordinary Share Capital:

25,000 Ordinary Shares at \$2 \$ ________

50,000 Ordinary Shares at \$3 \$ ________

________ Ordinary Shares at \$5 \$300,000

### Explanation

\$50,000, \$150000,60000

The Company holds 25,000 numbers of Ordinary Shares with a cost of \$2 for each share. Therefore,

Number of share

## Question number: 139

MCQ▾

### Question

Shalini sublets part of her premises to Renu.

A cheque for rent has been paid by Renu.

How will Renu record this in her ledger?

### Choices

Choice (4) Response

a.

 account to be debited account to be credited Rent receivable Bank

b.

 account to be debited account to be credited Bank Rent Paid

c.

 account to be debited account to be credited Rent Paid Bank

d.

 account to be debited account to be credited Bank Rent receivable