B.Com In Investment Management SEM II 2021 2022 May 2022 INV. MGT. FINANCIAL ACCOUNTING II Question Paper - Mumbai University | munotes

Questions asked in this paper

1. Q1 Fill in the Blanks with suitable 40 marks
   • 1. The carrying amount of current investment is to be shown at
   • (a) Face value of share (b) Cost or Market value whichever is lower Paid up value of share (d) Cosi er Market value whichever is
   • 2. The cost of investment sold is to be asvertained as per AS—13 meihod
   • 3. Investments intended to be held for more than 12 months is called investment
   • 4. The requirements regarding investment are specified in AS Lquity shares is a
   • (c) Safe security None of the above
   • 6. Sale proceeds of rights shares is credited to A/c,
   • (a) Profit and Loss (b) Investment Capital Reserve None of the
   • 7. The interest up to the date of transaction is paid in addition to the
   • (a) Cum-interest (b) Ex-interest (c) Fixed price types of
   • 8. Paid up Preference Share can be redeemed
   • 9. Which of the following is Not a Divisible Profit
   • 10. A company cannot issue redeemable preference shares for a period exceeding
   • 11. The Capital Redemption Reserve A/c can be used for:
   • (a) payment of dividend (b) writing off accumulated losses (c) issue of fully paid shares as bonus for (d) all of the above
   • 12. If pref. shares are redeemed at premium. such premium may be provided
   • (a) Profit and loss account (b) Proceeds of fresh issue of shares (c) Shares
   • 13. FEF stands for
   • 14. Accounting for effects of changes in Foreign Exchange rate is governed
   • (a) AS-9 (b) As-11 (c) As-14 (d) As-10
   • 15. Exchange Rate is
   • (a) Ratio of Exchange of Two Currency (b) Means of the exchange in force during a Period (c) Exchange rate at balance sheet (d) None of the above
   • 16. The profit on Import is recorded at Alc Credit Side of FEF (b) Debit side of FEF (c) P&L (d) Not Recorded
   • 17. NPO means Non-Profit Organization (b) No Profit Organization (c) Non-Profit Operations (d) None of the above. \
   • 18. Donati Capitalized is recorded under
   • 19. Income and Expenditure is
   • 20. Outstanding Subscription for current year shouldbe im Added (b) Deducted (c) Ignored (d) Can’t Say Limited) held as investments
   • K.K. Ltd. Pays interest on June and 31 December every year. Prachiti had following transaction during the year 1* June,20i 1-Purchase 800,9%Debenture at Rs.98 Ex-Interest December,2011-Sold 900,9% Debenture at Rs. 105 Prepare Investment in 9% Debenture account for the year ending (7 Marks)
2. Q2 The following traction of Miss Naina took place during the year ended 12/04/2013 Purchase 1.00,000 Equi shares of Rs. 10 each in “ABC” Ltd. For ABC Ltd. Made Bonus issue of 3 Equity shares for every 2 shares Naina sold 1,25,006 Bonus shares for Rs. 20 each Prepare Equity shares in ABC Account in the books of Miss Naina for the year ended
3. Q3 Balance sheet of Shiva Itd. on 31st march, 2017 was as under: 10% Preference Shares ofRs.100 each 5,00,000 Fixed Assets 11,00,000 Equity Shares of rs.10 each fully paid Bank 90,000 8% Debentures of rs.100 each 4,00,000 On the above date the company decided to redeem its preference shares at premium, For this purpose, the company sold its investments at a profit of 10% and issued 25,000 equity shares of rs.10 each at par. Preference Shares were duly redeemed. Al] the money under new issue was received and all money on redemption was paid. You are required to give necessary journal entries for the above transactions keeping in view all the legal requirements (7 Marks) j premium of 10% on December, 2017. The company has adequate balance in General Reserves. To provide funds for redemption, company - i) Sold investments costing Rs. 2,00,000 for Rs 3,00,000. (ii) Issued for cash - 2.500 -15% Debentures of - Git) 50,000 equity shares of Rs.10/- at premium of Rs.7- Pex Share. Show Journal
4. Q4 From the Receipt and Payment Account prepare Income and Expenditure Account for the year ended March 2020. (7 Marks) To Balance b/d 3,000 By Salaries | 4.000 To Subscription 5,900 By Printing and Stationery 1,000 To Donation (Revenue) 5,000 By Commission | 500 To Entrance Fees 4,000 By Reut To Interest 1,000 By Electric Charges 1,500 Subscription includes Rs.1,000 as subscription received in advance and for current year Rs.500
5. Q4 From the Receipt and Payment Account prepare Income and Fx penditure Account for the year ended 31st March 2021. (7 Marks) To Balance b/d 5,000 By Salaries 10,000 To Subscription 50,000 By General Expenses 5,000 To Donation 75,000 By Commission 5,000 To Entrance Fees 20,000 By Rent 20.000 (50% Revenue) By Machinery
   • 1. Subscription includes Rs.5,000 as subscription received in advance and outstanding for current year Rs.1000
   • 2. Depreciate Machinery at 10%
6. Q5 On Jan 2020, Ram Itd an Indian importer purchased $1, 50,000 goods from Lucky Ltd of USA. The payment and Exchange rate is as follow. (7 Marks) You are required to calculate Exchange Rate Difference in Tabular format
7. Q5 On Jan 2020, Suraj Itd an Indian exporter sold goods worth $ 2, 50,000 to Raymond Ltd of USA. The payment and Exchange rate is as follow. rks) You are required to calculate Exchange Rate Difference in Tabular format
8. Q6 Write short Notes (Any 2) 7 marks
   • 1. Divisible Profits =
   • 2. and Cum-Interest
   • 3. Investment and its Factors
   • 4. Characteristics of NPO
   • 5. Monetary

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