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BCom TY BCom Sem 5 BCom Sem 5 (2015 2016) Oct 2016 SemV Fin Acc L Question Paper - Mumbai University | munotes

BCom Sem 5 (2015 2016) Question Paper, Oct 2015.pdf
TY BCOM · 1 May 2025

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Older exam Oct 2016 - T.Y.B.Com Sem V.Mgt ACC 2015) Semester-end · BCom sem 5 (2015 2016) → Newer exam Oct 2016 - SemV Fin Acc L Semester-end · BCom sem 5 (2015 2016) →

Questions asked in this paper

  1. Q1 Dividend on is calculated on the cost of shares Disputed I come tax liability is a contingent liability Bonus are shares which are issued free of cost to the existing equity tands for International F inancial Reporting Standards ment Accounting is governed by AS II 6 algamation of Companics is governed by AS 13 1.7 Copy rights is shown under the head Tangible Fixed Assets in the Balance et of Limited company is no difference between Internal and External Reconstruction of 9 in Creditors is debited to Capital Reduction account 10 Balance in Capital Reduction account transferred to Capital Redemption 2 Kartik Ltd. as on 31st March 2015 15
  2. Q2 Following is the On the above date Ganesh Ltd agreed to take over the busin following terms: Lid & current ass . are The intangible 0. The liabilities are taken over at book value
  3. Q2 The purchase price is to be paid one- quarter and the balance in equity shares of Rs. 10 each at par
  4. Q3 Liquidation expenses amounted to Rs. to be paid by Kartik Ltd
  5. Q4 The take over is in the nature of You are required to : ov
    • (a) Calculate Purchase &
    • (b) Prepare necessary to close the books of Kartik Ltd
  6. Q2 Ram Ltd. took over the business Ltd. as on Ist April 2015 at book value Following is the Sheet of Ravan Ltd. as on 31/3/2015. 15 40,000 Equity Shares 10/- each | 4,00,000 | Plant & Machinery | 2,50,000 for every in R share of Rs, 10 / Calculate Purchase Con Ltd. each at a premium of Rs.2 per share ration & also prepare Balance sheet of Ram Ltd after quisition is in the nature of Purchas S
  7. Q3 On Ist April, 2014: M Ist March, 2015 in regard to Mohandas during the your No. of Debentures to prepare investment in 6% debentures in Ltd. Account for the ended 31st March, 2015, as it would appear in the of Mr. Mohandas. Market value of his entire investments as on 31/3/2015 was 200 Q Following is the Trial Balance of Neelam Ltd. as on March, 2015 Cash at Bank Profit and Loss A/c Interest on es accrued and due 13,500 tock in Trade 16,98,900 Share Capital of divided into hares of Rs are all unsecured and considered good, include 1,80,000 due for more than six Lids of Rs 10/- each Rs 4/- per share called and pal up
    • (d) Bills Receivable discounted with the bank, not matured till the Balance to prepare Balance Shect of Neelam Electronics on 31st March,2015 as pot the provisions of the Act
  8. Q4 Following is the Summarised Balance Sheet of Risky Ltd. as on 2015, 10% Preference Shares of Premises 6,40,000 Rs. 10 each 4,80,000 | Plant 10,40,000 Equity Shares of Rs. | 8,00,000 Debentures of Rs. 100 each 9,60,000 |<, is in arrears for 3 ycars A scheme of is preper d and and approved by all the authorities scrap for having book value of Rs. 1,60,000 is obsolete. This s on on plant & machinery is to be provided to the exten! of 4 s items vulued at 18 marks
  9. Q5 The present realizable value 96,000 which are sold at a loss of
  10. Q6 Arrears of Preference dividend investments is Rs.1,12,000 Reconstruction expense end is not payable
  11. Q7 The pai of equity shares is to be reduced to Rs.2 per share and & shares to Rs. 5 per share. However, the face value of both equity
  12. Q8 The creditors dues are settled as:
    • a. 20% immediate payment in cash. L
    • b. 40% amount is cancelled 40% paid by issue of 6% debentures A of Rs.3 per share on equity shares is made and received You are required to pass Journal Entries In the Books of Risky the above transactions. >
  13. Q4 Following is the extract of Trial Balance of Ameya Ltd. as on 31st 2015. 1S Opening Stock of Raw Material 10,00,000 Opening Stock of Finished goods Purchase of Raw Material 27,00,000 Interest received on Fixed Deposits 5,00,000 Freight on Raw Material 30,000 Bonus to employees 80,000 Interest paid on Interest on Loan ank of Baroda Insurance Pre of office premises 30,000
    • a) Closing Stock of Raw Material & Finished goods was Rs. 5,00,000 & 6 t, Rates & taxes were R
    • b) Outstanding Rs 50,000 to be provided for
    • f) provision for Income ax ended 31st M Prepare statement of Profit & for t Act as per the the Companies 5, (a) Purchase Bonsideration? the different methods of
    • (b) Explain the term Tangible fixed Assets, Intangible fixed Assets & Assets Write Short Notes on any three of the following : Q
    • (b) Internal Reconstruction of Companies
    • (c) Sub Division & Consolidation of shares Ex- interest transactions in Investment

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