BCom In Accounting & Finance (BCAF) SEM IV 2018 19 Oct 2018-19 ATKT FINANCIAL ACCOUNTING Question Paper - Mumbai University | munotes

Questions asked in this paper

• Please check whether you have got the right
• 2. Figures to the right indicate

1. Q1 A) Multiple choice question: (any 8) SL
2. Q1 Unclaimed dividend is shown under
   • c. Provision d. Reserves,
3. Q2 The uncalled amount in investment in Js
   • a. Investments b. Contingent
   • c. Current Liabilities
4. Q3 The redemption of preference <of the
   • a. Section 77 8 & 4, The period of preference shares cannot
   • a. 20 years
   • c. 5 years
5. Q5 The interest on investment representing sinking fund shou Id
   • c. Capital Debentures
6. Q6 A company thay tedeem debentures out of capital ifthe maturity period is less
7. Q7 to vendor should in ratio
8. Q8 For computation ‘of profit, eated 2b, Allocated in sales ratio Treated as pre-incorporation d. Treated as post incorporation income Following is not amonetary
   • a. Bills b. Cash VAS Exchange difference of non-integral foreign operation is transferred to whether the following statements are true or false. (any seven) [07] Fixed be translated at the rate on the date of the transaction while converting the-trial balance of foreign branch
9. Q2 Contingent Liability should be translated at the exchange rate ruling on the date of
10. Q3 Director's fees are divided in pre and post incorporation period
11. Q4 Preliminary expenses should be debited to pre-incorporation period:
12. Q5 After redemption of debentures, balance in sinking fund should be transferred
13. Q6 Debenture holders get fixed rate of dividend
14. Q7 Security premium can be debited for transfer to capital redemiption
15. Q8 A company can issue irredeemable preference
16. Q9 Authorised capital is disclosed only for information. Gs
17. Q10 Arrears of preference dividend is shown undef current liabilities: x
18. Q2 indian company Morning Star Ltd. has a (USA). The branch integral foreign operation of the Indian companys the Brafichi.as March 2018 is as follows: The following further information‘is
19. Q2 office equipment and furniture @10% at written down value
20. Q3 ‘The head sent goods to branch for Rs.15,80,000 4, The head office showed an-amount of Rs.20,50,000 due from Branch
21. Q5 stock
22. Q6 On 1 April 2016 when the fixed assets were purchased the rate of exchange was Rs.43 to one $. On 1 April 2017 the rate was Rs.47 per $. On 31 March 2018 the rate was Rate during the year was Rs.45 per $
    • a) Trial Balance incorporating adjustment given, converting dollars into rupees
    • b) Trading Profit & Loss Account for the year ended March 2018 and the Balance sheet on-that date
23. Q2 following is the balance sheet of Motherson Ltd.as on March 2017 70,000 Equity shares of Rs.10 7,00,000 | Curren ant 20,000 6% Preference shares of 39,000 Equity shares ofRs.10 each 3,90,000; 16,0006% Preference shares of The preference shares were radéemed on-lst April 2018 at a premium ‘Of Rs.2 per share, the whereabouts of the holders of 1200 such shares ndt-being known: The company issued 10,000 equity shares a premium of per share for redemption Draw up Journal entries.to record tlie. above in the books of Motherson Ltd. and show the Balance Sheet as it would such transaction have been completed 15 marks
24. Q3 A) A company issued 15,000 10% Debentures of each on 1% April 2013 of 6% par by drawing lots method as follows: Date of Amount of redemption (Face Value) the of discount.to.be written off to Profit & Loss account each year 8 marks
25. Q3 Pass journal the following cases 7 marks
    • i) 5000 6% Debentures ofRs.100 each were issued at par and were to be redeemed after 10 years at a premium of 10%
    • ii) 6000 8% Debentures of Rs. 100 each were issued at 5% premium, redeemable at par
    • iii) 8000 10% Debentures of Rs. 100 each were issued at 5% discount and redeemable at
    • iv) 20007% Debentures of Rs. 10 each were issued at par and redeemable at par Ltd. gave notice of its intention to redeem its 6% Debentures amounting Rs: [15] of Rs.100 each at Rs. 102 and offered the debenture holders the three
26. Q1 5% Preference shares of Rs.20 each at Rs.22.5
27. Q2 6% Debentures of Rs.100 each at Rs.96
28. Q3 To have their holdings redeemed in cash
    • a) Debenture holders for Rs. 1,71,000 accepted
    • b) Debenture holders for Rs. 1,44,000 accepted the proposal Pass journal entries to record the above transactions ini the books of the Ltd. took over business of M/s we. 20 Wagh Ltd, was incorporated on 1% September Trend of Salés April 20 14 to March 2015 was as under:
    • b) Out of travelling expenses, Rs.3,600 were incurred by salesman Wagh Ltd. ‘took furniture worth Rs.72,000 from Kolhe Bros while it purchased new furniture on 1* February 2015 for Rs.48,000. It provided depreciation @ 10% p.a for the whole year, Prepare a statement of Profit and Loss for the year ended March 2015 showing profit for
29. Q4 A) Hinduja Ltd. Trial Balance as on 31.3.2016 Land 15,00,000 | Provision for Provide Rs. 1,00,000 depreciation on furninire & fitting’; on Piant and Machinery and Rs.2,00,000 on Show how the above fixed assets Balance OSO Tad Balance as on
30. Q1 Company is registered authorized capital of into equity shares of Rs.100 each. the shares issued and are fully paid up
31. Q2 During the year to: issue bonus shares in ratio of one fully paid share for five shares out of General Reserves, The accounting yet to be passed Show the presentation Of sharé Reserve in the Balance sheet of OSO
32. Q5 A) Explain redemption of debentures out of profits and out of capital. 8 marks
    • B) Explain non-integral foreign operation. 7
33. Q5 short notes 15 marks
    • a) Capital Redemption “Monetary and items as per

Read from the scan above, so a character or two may differ. The scan is the original.