B.Com In Banking & Insurance (BCBI) Sem II 2018 19 April 2018-19 FINANCIAL ACCOUNTING II Question Paper - Mumbai University | munotes

Questions asked in this paper

1. Q1 is Compulsory
2. Q3 State your assumptions properly
3. Q4 Figures to right indicate full marks
4. Q5 Working notes should form part of answer
5. Q1 A) FILLIN THE (Any Eight ) 8 marks
6. Q1 Yield value depends on
7. Q2 Intrinsic value is also called as value
8. Q3 Amount payable on buy back cannot exceed 25% of
9. Q4 The company should open Account with bank to provide fund for buy back
10. Q5 Partly paid shares be bought back
11. Q6 Profit on Sale of Investments increases reserve
12. Q7 Forfeited Shares Account is not a profit
13. Q8 Redemption of debentures means of debentures
14. Q9 Sinking Fund A/c is shown in the Balance sheet under
15. Q10 Profit/Loss on sale of Sinking Fund Investment is transferred to
16. Q1 B) MATCH THE FOLLOWING (Any Seven ) Buyback of Shares Fixed Dividend Preference Shares Repurchase of Shares Section 80 and 80 A IRDA guidelines Dividend Equalization Reserve Redemption of Preference Shares 7 marks
    • Q. P. Code: 31198
17. Q2 A) The Balance Sheet of Jindal Ltd. As on March 2018 revealed the following: Equity Shares of Rs 10 each Less: Depreciation 7,90,000
18. Q1 Fixed assets and goodwill were revalued at Rs 7,50,000 and respectively
19. Q2 The Net Profit after tax for the immediately preceding three years were Rs 1,10,000 Rs 1,05,000 and Rs which 25% were transferred to reserves
20. Q3 A Fair return in the industry in which the company is engaged is considered to be 10% compute the value of company’s shares by:
21. Q2 B) The Net profits of the Anjali Company Ltd before providing for taxation @ 30% for the last five years are Rs 80,000 , Rs 85,000 , Rs 95,000 92,000 and Rs 1,00,000.The Capital Employed in the Business is Rs 3,50,000 on which reasonable return of 15% is Calculate value of Goodwill of the business by Capitalization of Profit method. (15)
22. Q3 A) ABC company gave notice of its intention to redeem its outstanding Rs 50,000 10% Debentures of 100 each at a premium of 5% and offered the holders the following options:
23. Q1 12% Cumulative preference Shares of Rs 20 each Rs 25 per share
24. Q2 To accept 10% Debentures stock at 96%
    • Q. P. Code: 31198
25. Q3 To have their holdings redeemed for cash accordingly
26. Q1 Rs 25,000 Debentures holders accepted the proposal 1 li) Rs 20,000 Debentures holders accepted the proposal 2 ili) Remaining Debentures holders accepted the proposal 3 Pass the Journal Entries in the books of the company to record only the above A Ltd. Company has 12,000 Redeemable Preference shares of Rs 100 each fully paid. The company decides to redeem these shares at 10% premium The company makes the following issues:
27. Q1 3,000 Equity shares of Rs 100 each at 10% premium
28. Q2 2,000 Debentures of Rs 100 each The Issue was fully subscribed and allotment were made. The redemption was carried out The company has sufficient Profit. Journalize the transactions. (15) Following is the summarized Balance Sheet of Chandra Ltd. as on 31/03/2018 16,00,000 Equity Shares of Land and Building Loss A/C 1,20,00,000 | Plant and Machinery The Company decided to Buy back maximum number of Equity shares as may be permitted at a price of 20 per share being the current market price. Assuming that Buy-back is actually carried out, You are required to pass necessary Journal entries in the books of the company
    • Q. P. Code: 31198
29. Q4 B) Vijay Enterprises Limited issues 2,000 9% debentures of Rs 100 each You are required to give journal entries on issue if :
30. Q1 Debentures are issued at par and redeemable at par
31. Q2 Issued at a discount of 5% but redeemable at par
32. Q3 Issued at a premium of 5% but redeemable at par
33. Q4 Issued at a discount of 10% but redeemable at a premium of 5%
34. Q5 Issued at par but redeemable at 10% premium. 15 marks
    • A) Explain difference between Buyback of shares & Redemption of Preference Share 8
    • B) Explain different Types of Debentures 7
35. Q5 A) Write Short Notes (Any Three) 15 marks
36. Q2 Distinguish between divisible and Non divisible profit- Five points only
37. Q3 Basic condition of calculating Buyback of shares if offer price is given

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