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BCom TY BCom Sem 6 BCom Sem 6 (2018 2019) Oct 2019 ATKT FINANCIAL ACCOUNTING Question Paper - Mumbai University | munotes

BCom Sem 6 (2018 2019) Question Paper, Oct (310941).pdf
TY BCOM · 915 KB · 1 May 2025

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Older exam Oct 2019 - T.Y.B.COM SEM VI ATKT (75 25) (CBSGS) M.H.R.M (HUMAN RESOURSE MGT) (P.D. 10 (P.C 31278) Semester-end · BCom sem 6 (2018 2019) → Newer exam Oct 2019 - ATKT COST ACCOUNTING Semester-end · BCom sem 6 (2018 2019) →

Questions asked in this paper

  • 2 Figures to the right indicate full marks
  1. Q1 A State whether the following statements are True or False. (Any 8) 8 marks
  2. Q1 Fixed deposits with banks should be disclosed under cash and in the Balance sheet of a Co-operative Housing Society
  3. Q2 Commission to salesman is allocated in the Time ratio while calculating profits for the pre and post incorporation period
  4. Q3 The balance in the Foreign exchange fluctuation be transferred to capital reserve a/c at the end of
  5. Q4 The loss before date of incorporation of a limited company is to goodwill
  6. Q5 Super profit is the profit earned-over and above the normal profit
  7. Q6 General Reserve is an Free reserve
  8. Q7 A company cannot buyback 25% of paid-up equity capital in any
  9. Q8 Inventory is an example of item
  10. Q9 Intrinsic value of equity shares is.calculated by dividing “net assets available to Equity share holders’ by ‘total number of equity shares’ ;
  11. Q10 Transfer fees received by the Co-operative Housing Society on transfer of shares should be shown under Reserve Fund
  12. Q1 B Match the Columns 7 marks
  13. Q2 Debt Equity buyback-of Difference due to different rates
    • Q. P. Code : 31094
  14. Q2 RR Pvt. Ltd. was incorporated on 30" July, 2016. This company agreed over business of R. & Co. as going concern with effect from 1* April, 2016 4 The Profit and Loss Account A/c for the year ended March, 2017 is given below: Printing and Stationery
  15. Q1 Investment was made in October 2016
  16. Q2 Sales arise evenly per month upto after they record an increase of two-third per month during of the period
  17. Q3 Travelling Expenses includes*Rs 3,000 which are-fixed in nature
  18. Q4 Audit fees are paid-for the whole year Prepare Profit and Loss A/c for-the year in the columnar form appropriating expenditure Pre-incorporation and Post
  19. Q2 On 1/1/2017 -RA Ltd., has imported goods from Australia based company Zubin & Co, Australian(AS$)1,00,000$ at an exchange rate of Rs 48 per AS$ The Payments were made as accounting 31% March. The Exchange Rate as on 31/3/2017 was Rs 49 per = Pass Journal Entries in the books of RA Ltd. and Prepare Foreign Exchange
    • Q. P. Code : 31094
  20. Q3 From the following trial balance as on 31.3.2017 of “Shalimar CHS Ltd.”, prepare Income & Expenditure A/c for the year ended 31 March, 2017 and the Balance Sheet as on that date in the format required under Maharashtra Cooperative Societies Act Income & Expenditure A/c: Collection . from Balance b/d 2,22,827 | for Establishment Expenses 54,21,600 1 Share of MDC Co-op Bank 1,000 | 1; of each 61,250 Water Charges 5,84,241 | Collection from Establishment Expenses 30,67,592 | Security Deposits from > Land and Building Interest- Savings Bank 86,475 Cash in Hand 4,502 Contribution for Repairs and Maintenance | Building 1,45,29,318 Cash at Bank ~ Mobile Tower Rent 8,40,823
  21. Q1 Authorised shares of Rs 50 Each:
  22. Q3 Prepaid Insurance
  23. Q4 by 15%
  24. Q3 Arjun & to purchase the business of Mamta & Co. on 31.12.2017. Profits of Mamta & Co. for the last 4 years were: The following additional information about Mamta & Co. is supplied: income of Rs 6,000 was included in the profit of 2014 which can never be b: reduced by a result of an extraordinary loss by fire After acquisition of & Co. has to pay insurance premium of Rs 2,000 purchase-of business, it.is.expected that the volume of business will increase and therefore Arjun will have to hire premises for which rent will be Rs 2,000 p.m The business*of was managed by a salaried manager who was paid a monthly-salary of Mr. Arjun the proprietor of Arjun & Co. decides to manage the firm after replacing the manager Compute.the value on the basis of 3 years purchase of the average profit for the
    • Q. P. Code : 31094
  25. Q4 The following is the Balance Sheet of Beena Ltd. as on 31-3-2017: 2,00,000 equity shares of Rs10 each 20,00,000 | Fixed Assets 40,00,000 ‘A 10% preference shares of Rs10 each 10,00,000 | Investments On the same date it was decided to buy back maximum number of shares at the maximum possible price permissible under the law Pass necessary Journal entries to record the above transactions and prepare Notes to ‘Accounts of Share Capital and Reserves and Surplus after Buyback. (Do not prepare Balance Sheet)
  26. Q4 Mr. Ketan intends to invest Rs 66,000 in equity shares of a Victory Ltd and seeks your advice as to the maximum Shares he to acquire based on-a intrinsic value of the shares to be determined & The following information is available: Issued and Paid up capital:6% shares of Rs.100 each 11,00,000 Average net profit business is Rs -1,50,000. Expected is 8% in case of such equity observed that the net assets on revaluation are worth Rs 1,40,000 more than the amounts:at-which they in the books. Goodwill is to be calculated at 5 years the ‘super profits, if any. Ignore Taxation. Consider closing capital employed as average capital (15) QS5A. What are the basis of allocation of expenses and incomes for calculating pre and post QSB: What is profit method of valuing goodwill. (07) short notes on (any three) (15) Sinking Fund-of Cooperative Housing Society
    • ii) of Valuation of shares Need of foreign currency transactions of buyback of Equity shares

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