B.Com. LL.B. (Five Years) Sem 2 Corporate Accounting 2019 Jun Question Paper - KSLU

Questions asked in this paper

UNIT - 1

1. Q1 (a) Sunshine Ltd. came up with an issue of 20,00,000 equity shares of ₹ 10 each at par. 5,00,000 shares were issued to the promoters and the balance offered to the public was underwritten by Mr. S, Mr. M and Mr. R equally, with firm underwriting of 50,000 shares each. Subscriptions totalled 12,97,000 shares (excluding firm underwriting) but including the marked form which were : Mr. S - 4,25,000 shares, Mr. M - 4,50,000 shares and Mr. R - 3,50,000 shares.
   Read the model answer
2. Q1 OR Goodwill Ltd. offered to the public to issue 18,00,000 shares at par. These offer was underwritten by 3 underwriters. Chethu, Neethu and Reethu equally with firm underwriting 60,000 shares each. Subscriptions totalled 15,80,000 shares including the marked forms which were :
   Read the model answer
3. Q1 (b) What do you mean by underwriting ? Explain the advantages of underwriting.
   Read the model answer
4. Q1 OR Write a short notes on the types of underwriting.
   Read the model answer

UNIT - 2

1. Q2 (a) XYZ Ltd. issued 3000 equity shares of ₹ 10 each payable as at ₹ 3 per shares on application, ₹ 5 per share (including ₹ 2 as premium) on allotment and ₹ 4 per share on call. All the shares were subscribed. Money due on all shares was fully received excepting Ram holding 50 shares, failed to pay the allotment and call money and Shyam holding 100 shares, failed to pay the call money. All these 150 shares were forfeited. Of the shares forfeited, 125 shares (including whole of Ram's share) were subsequently re-issued to Jadu as fully paid up at a discount of ₹ 2 per share.
   Read the model answer
2. Q2 OR Pioneer Construction Company Ltd. issued for public subscription 20,000 Equity shares of ₹ 10 each at par payable ₹ 2 per share on application, ₹ 3 per share on allotment and the balance in two calls of equal amount. Applications were received for 30,000 shares. The shares were allotted pro-rata to the applications for 24,000 shares, the remaining applications being rejected. Money overpaid on application was utilized towards sums due on allotment.
   Read the model answer
3. Q2 (b) Write a short note on types of Preference Shares.
   Read the model answer
4. Q2 OR Differentiate between Equity Shares and Preference Shares.
   Read the model answer

UNIT - 3

1. Q3 (a) Suman Enterprises Ltd. purchased from Mr. Suman his business on 01-4-2017. But Sushanth Enterprises Ltd. was incorporated on 01-07-2017. Find out from the following details the profits earned by the company prior to and after incorporation.
   Read the model answer
2. Q3 OR Reedhi Ltd. was incorporated on August 01st, 2017 to takeover the business of Sangeetha Ltd. as a going concern from 1st April 2017. The Profit and Loss Account for the year ended 31st March, 2018 is as follows :
   Read the model answer
3. Q3 (b) Explain all the Ratio's used to apportion Pre and Post incorporation Profit or Loss.
   Read the model answer
4. Q3 OR Classify the following on the basis of its apportionment :
   Read the model answer

UNIT - 4

1. Q4 (a) Anusha Ltd. proposed to purchase the business carried on by success. Goodwill for this purpose was agreed to be valued at 3 years purchase.
   Read the model answer
2. Q4 OR Sagar Company Ltd. Balance sheet is as follows :
   Read the model answer
3. Q4 (b) Explain the factors to be considered while valuing the shares.
   Read the model answer
4. Q4 OR Explain the methods of valuation of shares.
   Read the model answer

UNIT - 5

1. Q5 (a) From the following Trial balance, Prepare the Balance Sheet of MN Ltd. as on 31-3-2018.
   Read the model answer
2. Q5 OR The following balances have been extracted from the accounting records of Star Surya Ltd. as on 31-03-2017.
   Read the model answer
3. Q5 (b) Write a note on Schedule III of Companies Act, 2013.
   Read the model answer
4. Q5 OR Under which heading and sub-headings will the following items appear in the Balance Sheet of a company as per schedule III, Part - I of the Companies Act, 2013 ?
   Read the model answer

Typed from the KSLU paper above. The paper is the original. Long reading passages are shortened here to their first and last lines and a summary.