B.Com. (Accounting and Finance) Sem VI 2012 2015 2015 FINANCIAL ACCOUNTING Question Paper - Mumbai University | munotes
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You are also given the following relevant information :
(a) Agreed :
(i) That the properties and Plant & Machinery to be revalued as follows :
Plant and Machinery 30,570 17,095
(ii) That the value of stock to be reduced by 10% anda provision of 12.5% be
made on Debtors for bad and doubtful debts
(iii) That Goodwill be valued at two year's purchase of the average Annual
Trading Profits of the past three years, after deducting a profit of
10% on the net Trading Assets, before Revaluation or Adjustment on
(b) Profits of Pankaj Ltd. include 600 income from the investment in each of
the Three years, The market value of investment 42 on 31st Dec,, 2014 was
You are required to preapare statement to show you would arrive at the value
per share to the nearest rupee of the equity shares in :
3. The following is the Trial balance of as on 30th June 2013
(6000 shares of Rs.100 each) 6,00,000
Calls in arrears
Interest on Debentures 6,000
Advance payment of tax 1,20,000
Cash in hand
(i) Authorised share capital was 10,000 shares of 100 each
(ii) Accmulated provisions for depreciation on Plant & Machinery = 1,60,000
(iii) Closing has been valued at 24,000
(iv) Provide depreciation on Plant & Machinery @ 10% p.a. and furniture & fixture
10% pia: on writen down value
(v) Write off further Bad debts 5000
(vi). Write off preliminary expenses = 1000
(vii) for taxations if to be created = 30,000
‘ Board of directors recommended the following appropriations
Transfer to reserve 75,000. Proposed final dividend of = Prepare
final account as per revised schedule VI of Companies Act
You are also given the following relevant information :
(a) Agreed :
(i) That the properties and Plant & Machinery to be revalued as follows :
Plant and Machinery 30,570 17,095
(ii) That the value of stock to be reduced by 10% anda provision of 12.5% be
made on Debtors for bad and doubtful debts
(iii) That Goodwill be valued at two year's purchase of the average Annual
Trading Profits of the past three years, after deducting a profit of
10% on the net Trading Assets, before Revaluation or Adjustment on
(b) Profits of Pankaj Ltd. include 600 income from the investment in each of
the Three years, The market value of investment 42 on 31st Dec,, 2014 was
You are required to preapare statement to show you would arrive at the value
per share to the nearest rupee of the equity shares in :
3. The following is the Trial balance of as on 30th June 2013
(6000 shares of Rs.100 each) 6,00,000
Calls in arrears
Interest on Debentures 6,000
Advance payment of tax 1,20,000
Cash in hand
(i) Authorised share capital was 10,000 shares of 100 each
(ii) Accmulated provisions for depreciation on Plant & Machinery = 1,60,000
(iii) Closing has been valued at 24,000
(iv) Provide depreciation on Plant & Machinery @ 10% p.a. and furniture & fixture
10% pia: on writen down value
(v) Write off further Bad debts 5000
(vi). Write off preliminary expenses = 1000
(vii) for taxations if to be created = 30,000
‘ Board of directors recommended the following appropriations
Transfer to reserve 75,000. Proposed final dividend of = Prepare
final account as per revised schedule VI of Companies Act
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