Master of Commerce (M.Com.) MCom Accountancy SEM III ADVANCE ACCOUNTANCY Group A Corporate Accounting And Financial Management Advanced Financial Accounting Question Paper - Mumbai University | munotes

Questions asked in this paper

1. Q2 Figures to right indicates marks
2. Q3 Working should form part of answers 1 A. Prithvi Coast Ltd. has branch in London. On 31st December, 2017 the trial balance of the branch was a given as below: The branch account in head office showed.a debit balance of Rs 2,25,000 and Goods sent to branch account a credit balance of Rs 16,15,000: Furniture and Fixtures are acquired on 1-1-2017 @ 1£ =Rs 80 and depreciation @ 5% p.a. is to be provided for current year The exchange rates were: 1£ = Rs 78.50 on 1-1-2017, on 31-12-2017 1£ = Rs 81.00 and Average rate 1£ = Rs 79.50. The stock at branch on 31-12-2017 was Prepare Trading and Profit & Loss Account and Balance Sheet of London branch in the books of Prithvi Cost Ltd
3. Q1 Rohit Co-operative Society Ltd.is providing the trial balance of the society as on 31-3-2018 as follows: Code: 72201 Group A: Advanced Accounting, Corporate Accounting and Financial Management : Advanced Finan
4. Q1 Provide for audit fees due Rs 1200
5. Q3 Provide depreciation on dead stock at 10%
6. Q4 Provide bad debt for Rs 3000 You are required to prepare Trading, Profit & Loss Account for year ending 31-3-2018 and Balance Sheet of Rohit Co-operative Society Ltd. as on that date 2 Prepare Revenue Account in respect of Fire Insurance Business from the following details of General Insurance Company Ltd for the year ended as on 31-3-2018. (15) Premium on reinsurance Accepted on reinsurance 1,000 Create Reserves on 31-3-2018 to the same extent as on 31-3-2017 Code: 72201 Group A: Advanced Accounting, Corporate Accounting and Financial Management : Advanced Finan
7. Q2 From the following balances as on 31-3-2018 find out 1.Net Premium 2. Claim incurred 3. Commission
8. Q1 Premium:
9. Q2 Claims: On insurance Accepted 4,40,000 38,000
10. Q3 On 31st March 2018 the following balance stood in the books of Virat Bank Ltd. preparing Profit and Loss Investments 2,10,000 | Profit and Loss Account (credit as on The net profit for the year is after deducting provisions for bad debt Rs 21,00,000, tax provision Rs 70,00,000 and rebate on bills discounted Rs 3,50,000. You are required to prepare Balance sheet as on 31st March 3 From the following balances prepare Profit and Loss Account of Dhoni Bank Ltd for the year ended 31st Code: 72201 Group A: Advanced Accounting, Corporate Accounting and Financial Management : Advanced Finan
11. Q1 Rebate on bills discounted Rs 19000 )) Bad debts Rs 80000
12. Q2 Provision for Tax Rs 300000 4 A) Fill in the blanks with correct options. (8)
13. Q1 Outstanding Interest is converted as per ----------- rate 2.---------- is non monetary item 3.The heading Other Assets does not include
14. Q4 Rebate on bills discounted is shown in the
    • A) Liabilities side of Balance sheet B) Assets side of Balance sheet C) None
15. Q5 Reserve for unexpired risk in case of Marine insurance company is
    • A)50% B) 100% C) None 6.The person whose risk covered is an
16. Q7 Insurance industry is classified in to
    • A) Life insurance B) Life and General Insurance C) None
17. Q8 Insurance Business deals with 4 B) Match the following (7) Covers risk incase of accidents
18. Q4 Write Short note (Any 3) 15 marks
19. Q3 Branch Adjustments
20. Q4 Types of foreign branches

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