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Assam University Silchar TDC 2nd Sem Corporate Accounting Question Paper 2019
Assam University Silchar TDC 2nd Sem Corporate Accounting Question Paper 2019
Assam University B.Com 2nd Sem Question Papers, CBCS Pattern
Corporate Accounting', Assam University B.Com 2nd Sem 2019 Question Papers
TDC (CBCS) Even Semester Exam., 2019
COMMERCE (2nd Semester)
Course No.: BCH – CC – 201T
(Corporate Accounting)
Full Marks: 70
Pass Marks: 28
Time: 3 hours
The figures in the margin indicate full marks for the questions
UNIT – I
1. Answer any two questions from the following: 2x2=4
a) Explain the concept of ‘book building’.
b) Write two advantages of buyback of shares.
c) State two conditions of redemption of preference shares.
2. What is ‘sinking fund’? Explain the procedure of redemption of debentures by sinking fund method with accounting entries. 2+8=10
Or
From the following Balance Sheet of Estar Ltd. as on 31.03.2018, you are required to give effect to the proposal of bonus shares by passing Journal entries. You are also required to show the amended Balance Sheet as on that date:
Balance Sheet
As on 31.03.2018 of Estar Ltd.
Assam University Silchar TDC 2nd Sem Corporate Accounting Question Paper 2019
UNIT – II
3. Answer any two questions from the following: 2x2=4
a) Differentiate between Capital Reserve and Reserve Capital.
b) Explain the meaning of contingent liability with examples.
c) What are the purposes served by Schedule VI of the Companies Act, 2013?
4. From the following balances extracted from the books of Swift Ltd. as on 31.03.2018 and additional information, prepare profit & loss A/c of the company: 10
Additional Information:
1) Value of inventory on 31.03.2018 – Rs. 87,500.
2) Staff Salaries Outstanding – Rs. 6,500.
3) Insurance Premium prepaid – Rs. 1,200.
4) Depreciation to be charged on Machinery @ 10%.
5) Provision for bad debt @ 5% on debtors.
6) Transfer Rs. 10,000 to General Reserve.
7) Directors proposed, a dividend of 5% on the paid –up equity share capital.
Or
From the following balances taken from the books of Escorts Ltd., prepare the Balance Sheet as at 31.03.2018:
Further Information:
1) Bills discounted but not yet matured Rs. 12,000.
2) There is a claim against the company not acknowledged ad debt Rs. 16,000.
Assam University Silchar TDC 2nd Sem Corporate Accounting Question Paper 2019
UNIT – III
5. Answer any two questions from the following: 2x2=4
a) Explain why goodwill is considered as an asset.
b) Mention four methods of valuation of goodwill.
c) State the circumstances in which there may be need for valuation of shares in case of companies.
6. The following particulars have been extracted from the books of Sachin:
1) Capital Invested – Rs. 50,000
2) Trading Results:
Rs.
2015 Profit 18,200
2016 Profit 15,000
2017 Loss 2,000
2018 Profit 21,000
3) Market rate of interest on investment – 8%.
4) Rate of return on capital in business – 2%.
5) Remuneration from alternative employment of the proprietor (if not engaged in business) – Rs. 6,600 p.a.
Compute the value of goodwill of the business on the basis of three year’s purchase of super profits taking average of last four years. 10
Or
From the following information, calculate the value of per equity share: 10
20000, 9% Preference Shares of Rs. 100 each – Rs. 2,00,000
50000 Equity Shares of Rs. 10 each Rs. 8 paid up – Rs. 4,00,000
Expected profits before tax – Rs. 2,18,000
Rate of tax – 50%
Transfer to General Reserve every year – 20% of profit
Normal rate of earning – 15%.
Assam University Silchar TDC 2nd Sem Corporate Accounting Question Paper 2019
UNIT – IV
7. Answer any two questions from the following: 2x2=4
a) Write the situations under which an enterprise can become a holding company.
b) Define the term ‘minority interest’.
c) Explain the objectives of preparation of Consolidated Financial Statements.
8. The Balance Sheet of H Ltd. and its subsidiary S Ltd. as on 31.03.2018 stood as follows:
H Ltd. acquired 60% interest in S Ltd. All the profits of S Ltd. was earned after the shares were acquired by H Ltd. Prepare the Consolidated Balance Sheet of H Ltd. and its subsidiary S Ltd. on 31.03.2018: 10
Or
Describe the provisions of Accounting Standard – 21 in relation to the preparation of Consolidated Financial Statements. 10
Assam University Silchar TDC 2nd Sem Corporate Accounting Question Paper 2019
UNIT – V
9. Answer any two questions from the following: 2x2=4
a) State the main features of bank’s accounting system.
b) Explain two provisions of the Banking Regulation Act, 1949 relating to the annual accounts of a banking company.
c) Explain the meaning of the terms ‘Reinsurance’ and ‘Surrender Value’
10. From the following information, prepare Profit & Loss A/c of Money Plus Bank for the year ended 31.03.2018:
Additional Information:
a) Provide for contingencies – Rs. 2,00,000.
b) Transfer Rs. 15,57,000 to Reserves.
c) Transfer Rs. 2,00,000 to Central Government.
Assam University Silchar TDC 2nd Sem Corporate Accounting Question Paper 2019
Or
How is profit or loss ascertained in life insurance business? Prepare with imaginary figures Revenue A/c of a Life Insurance Company. 10
Assam University Silchar TDC 2nd Sem Corporate Accounting Question Paper 2019
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