BCom In Accounting & Finance (BCAF) SEM IV 2016 2017 March 2017 FINANCIAL ACC IV Question Paper - Mumbai University | munotes

Questions asked in this paper

1. Q1 A) State the following statement is TRUE or FALSE : (Any 8) 8 marks
2. Q1 Advertisement Expenses are allocated in sales Ratio
3. Q2 Debenture must be redeemed witnin 10 years
4. Q3 CRR stands for Capital Redemption Reserve,
5. Q4 Payment out of cash increases working Capital
6. Q5 Post-incorporation profit is available for dividend,
7. Q6 Profit Prior to incorporation is distributed as dividend
8. Q7 Party paidup preference share cannot be redeemed,
9. Q8 Debentures cannot be converted into new equity shares
10. Q9 To print reports Alt+P Key is used in tally
11. Q10 In tally, budget can be on gross transactions
    • B) Match the following : (Any 7)
12. Q2 Reserve Cannot be issued
13. Q2 Hindustan manufacturing limited redeemed 6% Debentures amounting to Rs. 4,00,000 of Rs. 100 each at Rs. 102 per share and offered the following options to debenture holders
    • a) Issue equity share Capital of Rs. 20 each at Rs, 22.50 per share
    • b) Issue 8% debentures of Rs. 100 each at Rs. 96,
    • c) redeemed in cash The balance accepted option (c) Pass jownal entry for above transactions and prepare working note. 15
14. Q2 X Ltd. issued 2000, 15% Debentures of Rs. 100 each on 1/1/2010 at 10% discount redeemable at 10% premium fully out of profits. Debentures are redeemable in lumpsum at the end of 4th year from the date of Issue. Company plans to redeem debentures entirely out of profits and to create DRR, for this purpose every year. Give Journal entries both at the time of issue and redemption of debentures. 15
15. Q3 Aircraft limited was incorporated on 1st August 2012. The Company agreed to take over the business of kid craft Ltd. as going concern, effective form 1st April 2012. The agreement also provided that Vendors are entitled to 60% of profits for period upto Ist August 2012, The profit & loss account for year ended 31st March 2013, is as follows : 15
16. Q1 Monthly sales for october 2012 to March 2013 is 150% of monthly sales for April 2012 to
17. Q2 Bad debts is in respect of sales effected two years ago
18. Q3 Investment sold on Ist November, 2012
19. Q4 Consideration to Vendors was paid on 1st oct 2012
20. Q5 Rent was increased form Rs. 500 per month to Rs. 1000 per month effective form 1st oct, 2012
21. Q3 Following is the Trial Balance of Integrated electronics Ltd. as on 31st March 2012 - 15 marks
22. Q1 Sunday Debtors, Which are all unsecured and considered good, inclued Rs. 90,000 due for more than six months
23. Q2 Investment represent 2,560 equity shares in X Ltd. of Rs, 10 each, Rs. 4 per share called and paid-up
24. Q3 Bills Receivable discounted with bank not matured tll the balancesheet date amounted to Prepare Balance Sheet as on 31st marhc 2012, Ignore previous year figures 15
25. Q1 Company Wants to redeem preference share 10% premium for which 10,000 equity sha of Rs.10 each issued at par
26. Q2 Company declared 1 bonus share for every 5 orginal equity shares
27. Q3 Investment sold for Rs.2,20,000/
28. Q1 Preferences share are redeemed at 10% premium for which company issued 15000 equity share of Rs. 10 each at Rs. 12 per share
29. Q2 Investment sold at 25% profit on cos:
30. Q3 Company issued 5 Bonus share for every 13 equity shares including fresh Issue,
31. Q5 Write short Notes (Any 3) 15 marks
32. Q1 Redemption of Preference share Capital
33. Q2 Write any 5 function Key
34. Q3 Redemption by Conversion
35. Q4 Disclosure of Trade Receivabels
36. Q5 Contingent Liabilities,

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