BCom In Accounting & Finance (BCAF) SEM V 2016 2017 2017 Financial Accounting Old Question Paper - Mumbai University | munotes

Questions asked in this paper

• (2) Figures to the right indicate full marks. ‘

1. Q2 A Ltd.company issued for public subscription 80,000 equity 10 each at a premium of Rs. 2 per share payable as under: On application Rs. 2 pet share; On allotment Rs. 5 per share (including On first call Rs. 2 per share and On second call Rs. 3 per share Applications were received for 1,00,000 Allotment pro-rata. Money overpaid on application was utilised towards sum due on allotment. Mr. Dave to whom 2,000 shares were allotted failed money on allotment and two calls, were subsequently forfeited after : the second call was made. All the forfeited shares were sold to Mr. Rajwade as fully paid up at Rs. 8 per-share. Show journal entries in the books of
2. Q2 M Ltd. is incorporated with an authorised capital of Rs. 20,00,000 divided into 20,000 equity shares of Rs? “The company’ issued 10,000 equity shares of Rs. 100 each-payable as under: call 20 and On Rs: 30 Applications were for 15,000 shares. The directors decided to allot To the applicants shares- full; the applicants for 3.000 shares- Nil The directors did.not make the final call. All the money due on shares were duly received except the first call on 500 shares is the summary balance sheet of M Ltd. as on + From the following trial balance as on 31 -3-2015, prepare final of Mangal co-operative housing society in the prescribed format as per Share of MDCH federation 100 Cash in banks 3,08,575 Cash on hand 6 expenditure account) Furniture and fittings Sinking = opening Professional fees | shares of 5,000 Repairs and maintenance . $2,940 Subscription to housing
   • (b) charges Rs. 12,394 Repairs and maintenance Rs. 4,200 Authorised : 180 shares of Rs. 50 each. 15 Dues for establishment expenses Rs. 43,242 Write’short notes on (any three):
   • (a) of preference shares of equity shares

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