Dibrugarh University B.Com 4th Sem Question Paper (Non-Hons)
Corporate Accounting Question Paper 2022 (June/July)
COMMERCE (Non-Honours)
Paper: CC – 402 (Corporate
Accounting)
Pass Marks: 32
Time: 3 hours
The figures in the margin indicate full marks for the questions
1. (a) Fill in the blanks: 1x4=4
(1) Profit on reissue of forfeited shares is
transferred to _______.
(2) Dividend declared between two annual
general meetings of a company is known as _______.
(3) Reduction of capital is unlawful if not
sanctioned by the _______.
(4) Pre-acquisition profits are treated as
_______ profit.
(b) Write True or False: 1x4=4
(1) Banking companies are governed by the
Banking Regulation Act, 1948.
(2) The debenture holders are the owner of
the company.
(3) Preliminary expenses are of revenue
nature.
(4) Goodwill is an intangible asset.
2. Write short notes on any four of the
following: 4x4=16
(a) Redeemable debenture.
(b) Payment of dividend out of capital
profit.
(c) Accounting Standard 14 (ICAI).
(d) Minority interest.
(e) Yield method of valuation of shares.
3. (a) What do you mean by buyback of shares?
State the conditions to be fulfilled for buyback of shares. 2+6=8
Or
(b) A company with an issued and subscribed
capital of Rs. 10,00,000 in 1,00,000 shares of face value of Rs. 10 each of
which Rs. 8 per share is paid up, has accumulated a Reserve of Rs. 3,00,000.
Out of this Reserve Rs. 2,00,000 is intended to be utilized in declaring a
bonus @ 25% on the paid-up capital so that the shares may become fully paid. Show
the necessary Journal Entries. 8
4. (a) Explain the following: 4+4=8
(1) Interim dividend.
(2) Managerial remuneration.
Or
(b) Give a specimen of statement of profit
and loss of a company. 8
5. (a) Define goodwill. Explain any four
features of goodwill. 2+6=8
Or
(b) From the following particulars, calculate
the value of an equity share: 8
|
2,000,
9% preference shares of Rs. 100 each 50,000
equity shares of Rs. 10 each, Rs. 8 per share paid up Expected
profit per year before tax |
Rs.
2,00,000 Rs.
4,00,000 Rs.
2,18,000 |
Rate of tax is 40%. Transfer to General
Reserve 20% of profit. Normal rate of earnings is 15%.
6. (a) Distinguish between amalgamation in
the nature of merger and amalgamation in the nature of purchase. 8
Or
(b) The paid-up capital of Toy Ltd. amounted
to Rs. 2,50,000 consisting of 25,000 equity shares of Rs. 10 each. Due to
losses incurred by the company, the company decides to reconstruct with the
following changes:
(1) In lieu of their present holdings, the
shareholders are to receive:
(a) Fully paid equity shares equal to 2/5th
of their holding.
(b) 5% preference shares fully paid to the
extent of 20% of the above new equity shares.
(c) 3,000, 6% second debentures of Rs. 10
each.
(2) An issue of 2,500, 5% first debentures of
Rs. 10 each was made and fully subscribed in cash.
(3) The assets were reduced as follows:
(a) Goodwill from Rs. 1,50,000 to Rs. 75,000.
(b) Machinery from Rs. 50,000 to Rs. 37,500.
(c) Leasehold premises from Rs. 75,000 to Rs.
62,500.
Show the Journal Entries to give effect to
the above scheme of reconstruction. 8
7. (a) State four merits and four demerits of
holding company. 4+4=8
Or
(b) H. Ltd. acquired all the shares in S.
Ltd. on 1st January, 2022 and balances taken from the books of the
two companies on 31st March, 2022 were as follows:
|
Cr. Balances |
H Ltd. (Rs. ) |
S Ltd. (Rs. ) |
Dr. Balances |
H. Ltd. (Rs. ) |
S Ltd. (Rs. ) |
|
Share
Capital Reserve
(1-4-2021) Surplus
A/c Sundry
Creditors |
50,000 20,000 25,000 20,000 |
30,000 15,000 10,000 15,000 |
Sundry
Assets Shares
in S Ltd. (at cost) |
65,000 50,000 |
70,000 - |
|
|
1,15,000 |
70,000 |
|
1,15,000 |
70,000 |
Surplus of S Ltd. had a credit balance of Rs.
3,000 on 1st April, 2021. Prepare a Consolidated Balance Sheet as on
31st March, 2022. 8
8. (a) From the following details relating to
ABC Bank Ltd., fund out the Net Profit earned in the year ended on 31st
March, 2022: 8
|
|
Rs. (‘000) |
|
Interest
earned Other
incomes Interest
expended Operating
expenses Provisions
and contingencies Profit
brought forward Transfer
to statutory reserve Transfer
to proposed dividend Transfer
to Central Government |
3,702 455 2,037 480 1,300 NIL 68 100 30 |
Or
(b) Explain the following terms used in
banking business (any two): 4x2=8
(1) Rebate on Bills Discounted.
(2) Non-banking Assets.
(3) Discounting of Bills.
9. (a) Define the term “Cash Flow”. Explain
the importance of Cash Flow Analysis. 2+6=8
Or
(b) The following are the Summarized Balance
Sheets of Z Ltd. as on 31st March, 2021 and 2022:
|
|
31/03/2021 (Rs. ) |
30/03/2022 (Rs.) |
|
I.
Equity and Liabilities: (1) Shareholders’ Fund: Equity Share Capital Reserves and Surplus: Surplus as per Statement of Profit and Loss (2) Current Liabilities: Trade Payable: Sundry Creditors |
20,00,000 1,00,000 7,00,000 |
25,00,000 2,30,000 4,50,000 |
|
Total |
28,00,000 |
31,80,000 |
|
II.
Assets: (1) Non-current Assets: Fixed Assets: Land and Building (2) Current Assets: Inventory Trade Receivables (3) Cash and Cash Equivalents: Cash in Hand |
5,00,000 8,00,000 12,00,000 3,00,000 |
6,60,000 9,00,000 11,50,000 4,70,000 |
|
Total |
28,00,000 |
31,80,000 |
Prepare a Statement of Cash
Flow as per Ind AS-7. 8
***
Post a Comment
Kindly give your valuable feedback to improve this website.