Corporate Accounting Question Paper 2025 [Gauhati University FYUGP BCom 2nd Semester]

This post provides the Gauhati University BCom 2nd Semester Corporate Accounting Question Paper 2025. It follows the FYUGP pattern and is useful for Gauhati University BCom 2nd Semester students who are studying Corporate Accounting as part of their course.

This Gauhati University FYUGP BCom 2nd Semester question paper will help students understand the exam pattern, types of questions, and important topics. It is especially helpful for regular practice and last-minute revision before the examination.

2025

COMMERCE

Paper : BCM0200104
(Corporate Accounting)

Full Marks : 60
Time : 2½ hours

The figures in the margin indicate full marks for the questions.
Answer either in English or in Assamese.

1. Answer the following questions as directed : 1×8=8

(a) Securities Premium is shown in the Balance Sheet under the head ______. (Fill in the blank)

(b) Expenses incurred at the time of formation of a company is known as ______ expenses. (Fill in the blank)

(c) A company can issue fully paid-up bonus shares. (State whether the statement is True or False)

(d) A company’s share buyback cannot exceed ______% of the sum of its paid-up capital and free reserve.
(Fill in the blank)

(e) Reduction in share capital must be sanctioned by the National Company Law Tribunal. (State whether the statement is True or False)

(f) Generally, valuation of shares means valuation of ______ shares. (Fill in the blank)

(g) All the assets and liabilities of the transferor company become the assets and liabilities of the transferee company when amalgamation is in the nature of purchase. (State whether the statement is True or False)

(h) Write the meaning of holding company.

2. Answer in brief any six questions : 2×6=12

(a) How would you deal with the following items while preparing the company final account?
(i) Directors’ fees
(ii) Auditors’ fees

(b) Write the meaning of right share.

(c) Write two advantages of issue of bonus shares from the point of view of the company.

(d) What is Super Profit Method of valuation of goodwill?

(e) Mention two ways through which alteration of capital may be done by a company.

(f) Write the meaning of internal reconstruction.

(g) What is buyback of shares?

(h) Mention two objectives of amalgamation of companies.

(i) What is Pre-acquisition Profits?

(j) Explain the meaning of amalgamation in the nature of purchase.

3. Answer any four questions : 5×4=20

(a) Mention any five advantages of right share.

(b) Trishna Ltd. having a paid-up capital of ₹10,00,000 divided into 1,00,000 shares of ₹10 each, has a reserve of ₹4,25,000.
The company has decided to declare bonus out of the reserve and to distribute the same in the form of bonus shares of ₹10 each as fully paid-up to the existing shareholders in the ratio of one bonus share for every four shares held in the company.

Calculate the amount of bonus to be declared and show the journal entries in the books of the company.

(c) Blue Star Ltd. decided to buyback 20% of its share capital directly from shareholders at ₹9 per share.

The company’s capital structure before buyback is:
Paid-up capital ₹4,50,000 in equity shares of ₹10 each
Securities Premium Account ₹25,000
General Reserve ₹45,000

For the purpose of buyback the company issued ₹20,000, 10% preference shares of ₹100 each.

Pass journal entries to record the above transactions relating to buyback in the books of the company.

(d) The following is the extract of Trial Balance of K. D. Ltd. as on 31.03.2024:

Sales ₹3,00,000
Purchases ₹2,25,000
Opening Inventory ₹70,000
Purchase Return ₹10,000
Salary and Wages ₹50,000
Dividend received ₹6,000
Carriage inward ₹500
Advertisement ₹7,500
Staff Welfare expenses ₹3,000
Dividend paid ₹8,000

Prepare a Statement of Profit and Loss as per Companies Act, 2013 for the year ended 31st March, 2024 after considering the following additional information:

(i) Closing inventory on 31.03.2024 ₹95,000
(ii) Outstanding salary ₹2,500

(e) Mention the different methods of ascertaining the consideration for amalgamation.

(f) Write a brief note on ‘Capital Reduction Account’ in the context of internal reconstruction of companies.

(g) Explain the manner of computation of minority interest in a holding company.

(h) What is goodwill? What are its features? (2+3=5)

4. Answer any two questions : 10×2=20

(a) The following ledger balances have been extracted from books of RKB Ltd. on 31.03.2024:

12000 Equity shares of ₹100 each – ₹12,00,000
Bank Loan – ₹1,40,000
10% Debenture – ₹5,00,000
Securities Premium – ₹60,000
Sundry Debtors – ₹2,70,000
Loose Tools – ₹30,000
Livestock – ₹1,70,000
Land and Building – ₹6,60,000
Cash in hand – ₹10,000
Furniture – ₹2,00,000
Bills Receivable – ₹60,000
Sundry Creditors – ₹1,60,000
Bills Payable – ₹60,000
General Reserve – ₹1,10,000
Surplus in Statement of Profit and Loss – ₹3,20,000
Investment – ₹40,000
Cash at bank – ₹90,000
Stock in trade – ₹3,20,000
Machinery – ₹7,00,000

Prepare a Balance Sheet as per the Companies Act, 2013.

(b) The Balance Sheet of X Ltd. as at 31st March, 2024 is given. 

BALANCE SHEET

Particulars	Amount (₹)
I. EQUITY AND LIABILITIES
1. Shareholders’ Fund
(a) Share Capital
20,000 Equity Shares of ₹10 each fully paid	2,00,000
10,000 Convertible Preference Shares of ₹10 each fully paid	1,00,000
(b) Reserve and Surplus
Surplus (Debit balance of Statement of Profit and Loss)	(70,000)
2. Non-Current Liabilities
Convertible Debentures	30,000
3. Current Liabilities
Trade Payables – Sundry Creditors	15,000
Total	2,75,000

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Particulars	Amount (₹)
II. ASSETS
1. Non-Current Assets
(a) Property, Plant and Equipment
Machinery	1,00,000
(b) Goodwill	10,000
2. Current Assets
(a) Inventory	50,000
(b) Trade Receivables – Debtors	95,000
(c) Other Current Assets – Deferred Expenses	20,000
Total	2,75,000

The Company adopted the following scheme:

(a) The equity shares were to be reduced by ₹6 each and the preference shares by ₹4 each to be reduced.

(b) Goodwill, Deferred expenses and Deficit in statement of Profit and Loss were to be written off and Machineries to be depreciated by 5% and inventory to be written off by 10% respectively.

(c) Sun Ltd. took over the business of Star Ltd. as on 31.03.2024

Balance Sheet as on 31.03.2024

Particulars	Amount (₹)
I. EQUITY AND LIABILITIES
1. Shareholders’ Fund
(a) Share Capital
Equity Shares of ₹10 each fully paid	6,00,000
(b) Reserve and Surplus
General Reserve	70,000
Export Profit Reserve	1,00,000
Total Reserve and Surplus	1,70,000
2. Non-Current Liabilities
Long-term Borrowings – 6% Debentures	1,00,000
3. Current Liabilities
Trade Payable (Bills Payable)	30,000
Total	9,00,000

---

Particulars	Amount (₹)
II. ASSETS
1. Non-Current Assets
Fixed Assets	5,50,000
2. Current Assets
Inventory	2,40,000
Trade Receivables (Debtors)	1,00,000
Cash	10,000
Total Current Assets	3,50,000
Total	9,00,000

Purchase consideration was fixed as follows:

(i) Cash payment of 2 per share of Star Ltd.

(ii) 90,000 shares of Sun Ltd. of ₹ 10 each fully paid at a premium of 2 each.

(iii) 6% Debenture of Star Ltd. were discharged at 5% premium by the issue of 7% debentures of Sun Ltd. issued at par.

Sun Ltd. revalued fixed assets at 6,90,000 and other assets at book values while Sundry debtors were taken over at 95,000.

Give Journal entries in the books of Sun Ltd..

(d) Explain the conditions to be satisfied under section 68 of the Companies Act, 2013 for buyback of shares.

(e) The Balance Sheet of H. Ltd. and its subsidiary S. Ltd. on 31st March, 2024 was as follows :

BALANCE SHEET

Particulars	Amount (₹) H. Ltd.	Amount (₹) S. Ltd.
I. EQUITY AND LIABILITIES
1. Shareholders’ Fund
(a) Share Capital – Equity Shares of ₹10 each	50,000	10,000
(b) Reserve and Surplus
Reserve	10,000	—
Surplus (Balance of Statement of Profit and Loss)	20,000	6,000
Preliminary Expenses	(8,000)	(4,000)
2. Current Liabilities
Trade Payables – Sundry Creditors	8,000	8,000
Bills Payable	3,000	2,000
Total	83,000	22,000

Particulars	Amount (₹) H. Ltd.	Amount (₹) S. Ltd.
II. ASSETS
1. Non-Current Assets
(a) Tangible Assets	56,500	12,000
(b) Non-Current Investment
Equity Shares in S. Ltd.	6,500	—
2. Current Assets	20,000	10,000
Total	83,000	22,000

H. Ltd. acquired 60% interest in S. Ltd. All profits of S. Ltd. were earned after acquisition.

Prepare a Consolidated Balance Sheet.

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