KSLU Solved Question Papers
Corporate Accounting
Previous Year Question Paper with Solution
B.Com. LL.B. (Five Years) · Sem 2
2019 Dec Examination
munotes.in
Mumbai
B.Com. LL.B. (Five Years) Sem 2 Corporate Accounting 2019 Dec Question Paper with Solutions
First published on munotes.in on 21 October 2026.
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The question paper reproduced here is the paper as set by Karnataka State Law University at the 2019 Dec examination.
Contents
The questions below are the paper as Karnataka State Law University set it at the 2019 Dec examination, in the order it was set.
MarksPage
MarksPage
The Paper as Set
The questions in this volume are the questions asked at the 2019 Dec examination, reproduced as Karnataka State Law University set them, in the order it set them. Long reading passages are shortened to their first and last lines and our summary; the original paper prints them in full. Only the answers are ours. See the original question paper.
Duration 3 hours · Total marks 80 · 20 questions answered
Instructions printed on the paper
- N.B. (1) Answer all five Units. (2) One essay type question and short note/problems is compulsory from each Unit. (3) Figures to the right indicate marks. (4) Answer should be written in English completely. (5) Use simple calculator.
How to use this volume
Solve the paper first, under exam conditions and against the clock. Then read the answers here and mark your own. Reading a solution before attempting the question feels productive and teaches very little, because recognising an answer is not the same as being able to write one.
Q1
Unit I
(a)Anand Ltd. issued 200000 shares of ₹ 10 each. The entire issue was underwritten as follows :[10]
Answer
The figures given in the question
Ananth = 100000 shares (firm underwriting 20000 shares)
Bhaskar = 60000 shares (firm underwriting 10000 shares)
Chander = 40000 shares (firm underwriting 10000 shares)
Shares applied for were 180000 (including firm underwriting).
The following being the marked forms :
Ananth = 70000 shares
Bhaskar = 28000 shares
Chander = 32000 shares
Calculate the total liability of each underwriter.
For full marks, cover: the gross liability in 5 : 3 : 2; the firm applications treated as each underwriter's own marked forms, since the paper is silent; credit for the marked forms; the unmarked forms in the gross ratio; Chander's surplus passed on; the net liability; and the total liability of each underwriter with his firm shares.
Step 1: what the question gives
Anand Ltd. issues 2,00,000 shares. Ananth underwrites 1,00,000 (firm 20,000), Bhaskar 60,000 (firm 10,000) and Chander 40,000 (firm 10,000). The ratio is 5 : 3 : 2, and firm underwriting totals 40,000.
Applications, firm shares included, are 1,80,000. Marked forms are 70,000 + 28,000 + 32,000 = 1,30,000. The unmarked forms are 1,80,000 - 1,30,000 - 40,000 = 10,000. The shortfall is 2,00,000 - 1,80,000 = 20,000 shares.
The paper does not say how firm applications are treated. So the usual rule is followed: each underwriter's firm shares count as his own marked forms.
Step 2: statement of liability (in shares)
| Particulars | Ananth | Bhaskar | Chander | Total |
|---|---|---|---|---|
| Gross liability | 1,00,000 | 60,000 | 40,000 | 2,00,000 |
| Less: Marked forms | (70,000) | (28,000) | (32,000) | (1,30,000) |
| Less: Firm applications, as marked | (20,000) | (10,000) | (10,000) | (40,000) |
| Less: Unmarked forms in 5 : 3 : 2 | (5,000) | (3,000) | (2,000) | (10,000) |
| Particulars | Ananth | Bhaskar | Chander | Total |
|---|---|---|---|---|
| Balance | 5,000 | 19,000 | (4,000) | 20,000 |
| Less: Surplus of Chander shared in 5 : 3 | (2,500) | (1,500) | 4,000 | - |
| Total, being the net liability | 2,500 | 17,500 | 0 | 20,000 |
Working: unmarked 10,000 × 5 / 10 = 5,000 for Ananth, 10,000 × 3 / 10 = 3,000 for Bhaskar and 2,000 for Chander. Chander's surplus of 4,000 gives Ananth 4,000 × 5 / 8 = 2,500 and Bhaskar 4,000 × 3 / 8 = 1,500.
Step 3: total liability
| Particulars | Ananth | Bhaskar | Chander | Total |
|---|---|---|---|---|
| Net liability | 2,500 | 17,500 | 0 | 20,000 |
| Firm underwriting | 20,000 | 10,000 | 10,000 | 40,000 |
| Total, being the total liability | 22,500 | 27,500 | 10,000 | 60,000 |
At Rs. 10 a share, Ananth pays 22,500 × 10 = 2,25,000, Bhaskar 27,500 × 10 = 2,75,000 and Chander 10,000 × 10 = 1,00,000.
Conclusion. Ananth's total liability is 22,500 shares (Rs. 2,25,000) and Bhaskar's 27,500 shares (Rs. 2,75,000). Chander's is 10,000 shares (Rs. 1,00,000), his firm shares only, since his marked forms cover the rest of his share.
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