BCom In Accounting & Finance (BCAF) SEM II 2016 2017 Sep 2017 FYBAF SEM II ATKT EXAM FIN. ACC Question Paper - Mumbai University | munotes

Questions asked in this paper

1. Q2 Cost of investment includes purchase price and brokerage
2. Q3 The interest on investment is calculated on Face value of investment
3. Q4 Super profit is the excess of over normal profit
4. Q5 Goodwill is a tangible assets
5. Q6 Application money transfer to share capital account ASB stands for Accounting Standard Board
6. Q8 Goodwill is the value of reputation of business,
7. Q9 Cost of investment includes purchase price and brokerage 10, CPU does not include memory unit
   • (b) Match the following. (any 7) 2.AS 13 price Calls-in-arrears 8 Forfeiture of shares Super profit 7
8. Q2 PQR Itd. issued 40,000 shares of Rs. 10 each at par, payable as under: Rs. 2 on Application, Rs. 3 on Rs on Rs. final call. Company received application for 40,000 shares. All the applications were accepted. The company allotted the shares and received the amount as above. Pass journal entry in the books of company
9. Q2 Bharat Itd. issued 40,000 shares of Rs. 10 each at par payable as under: Rs. 2 on Application, Rs. 3 on Allotment. Rs on Final Call. Company received application for 48,000 shares. Applications for 8,000 shares were rejected and refunded Amount is duly received on allotment and final call. Pass journal entry in the books of ABC
10. Q3 The net profits of a company after p oviding taxation, for the past 5 years creas Average capital eraployed is Rs. 16,00,000. NRR is @10% p.a. You are required to calculate the value of Goodwill for 4 years purchase of super profit method Itd. is having the profit after taxation, for the last 4 years are as follows: Average capital employed of the company is Rs. 11,00,000. NRR is @ 10% p.a. You are required to calculate the Goodwill for 5 year purchase of super profit method
11. Q4 Convert the Balance sheet of M/s SONY MONY Enterprises as on March 2014 in vertical form Balance sheet as on March 2014 Outstanding expenses 22,400 Cash in hand 2,000 Sundry creditors 280,000 Cash at bank 31,000
12. Q4 Convert the following in vertical statement showing cost of preduction and gross profit for the year ended Purchase of Raw Material 24,000 Work in progress 8,000 Carriage on Raw material 1200 Repairs of plant and machinery 1260 Factory rent and taxes 2.000 Depreciation on factory building 600 Depreciation on plant & machinery 1600 Work in progress 10000
13. Q5 Write Short Notes. (any 3) 1 Explain the Use of computer in accounting
14. Q2 Distinguish between Shares & Debentures
15. Q3 Accounting Standard Board.of ICAI
16. Q4 Buyback of Shares
17. Q5 Accounting Standards in India

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