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BCom SY BCom Sem 3 BCom Sem 3 (2016 2017) Feb 2017 ATKT ACCOUNTS Question Paper - Mumbai University | munotes

BCom Sem 3 (2016 2017) Question Paper, Feb.pdf
SY BOCM · 1.0 MB · 1 May 2025

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Older exam Feb 2017 - ATKT BUS.ECONOMICS Semester-end · BCom sem 3 (2016 2017) → Newer exam Sep 2017 - FC Semester-end · BCom sem 3 (2016 2017) →

Questions asked in this paper

  1. Q2 Following is the tria] balance of PQ&R on March 2016: a i. On 1* October, 2015, R was admitted, who bought Rs. 10,000 as his capital and also bought Rs. 4,800 for his share of Goodwill
    • ii. P&Q were sharing Profit & Losses as 3:2. After R’s admission they shared profit The sales from 1 April 2015 Sept. 2015 were Rs
    • iv. The purchases from April 2015 to 30" Sept. 2015 were Rs. 17,500 Depreciate Building @ 5% p.a. and Machinery @ 10% p.a
    • vi. Interest on Capital to be allowed @ 10% p.a.
    • vii. stock Rs. 4,000 on Sept., 2015 and Rs. 7,000 on March 2016 You are requited to prepare Partnership Final Account for the year ended March,
  2. Q3 Following is the Balance Sheet of two firms as at 31 March, 2016 it was mutuaily agreed to amalgamate the business from April, Terms of amalgamation were as follows: 15 marks
    • (2) A premise was valued at Rs. 20,000 and computers at Rs Furniture was not taken over by new firm A reserve of 5% is to be created on debtors (@) Goodwill was valued as: M/s. SN & Co. at Rs, 20,000 and that.of M/s. GM & Co. at Rs = ‘ The new firm also assumed other Assets and Liabilities of old firm at-book value. Show Secessary accounts in the books of old firms and the Balance Sheet of new firm M/s The Balance Sheet of M/s. M & N and M/s. R & as on 31-12-2015 were as follows: The two firms decided to amalgamate and form into M/s. ABCD & Co. with effect from January, 2016. Partners would share profits and losses equally between themselves as tl were doing prior to amalgamation and they agreed to following revaluation of assets In addition to the above it was decided —
    • (1) Goodwill of A & B and C & D was valued at Rs. 17,500 and Rs. 10,600 respectively You are required to show— _ =
    • i) The the books of M/s. A & Band The Opening Balance Sheet of the new firm M/s ABCD &
  3. Q4 From the following Balance Sheet of M/s Film-Store-with and Khanna a: sharing profits and losses in the ratio of 5:3:2. Their Balance Sheet on the date of dissoluti Khan 10,200 | Cash in
    • (1) Realization expenses were estimated at Rs. 2,000
    • (2) the assets were realised as under:
    • (3) Actual realization expenses were Rs. 1,500 only showing piecemeal distribution of Excess Capita
  4. Q4 Lalita, Uma and Mamta were in partnership, sharing-profits and the ratio-of Their firm was dissolved as on 31% December 2015 on which date the Balance’ the firm was as = Balance Sheet as at December, 2015 = It was agreed that the realization should be distributed in their due order at the end of each fortnight The realization and expenses were as under: ‘ Stocks were completely disposed off and the remaining debtors were to be taken over by Mamta at = an agree: amount of Rs. 600 Show the Statement of distribution of cash, following Relative Capitals Method = Q.5. different types of inventory vouchers involved in Tally? 8 Marks
    • B. What are the advantages of computerized accounting system? 7
  5. Q3 Write short notes (any 3) i, Cost Center and Cost Categories = ii. Objectives of Amalgamation of Firm Profit & Loss Appropriation account in partnership finalaccount 15 marks

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