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    Bcoc 137

    Uploaded by

    Varun Kumar

    Copyright:

    © All Rights Reserved
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    Bcoc 137

    Uploaded by

    Varun Kumar
    10 views12 pages

    Original Title

    BCOC-137

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    © © All Rights Reserved

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    10 views12 pages

    Bcoc 137

    Uploaded by

    Varun Kumar

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    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    of 12

    No.

    of Printed Pages : 12 BCOC-137

    BACHELOR OF COMMERCE
    (B. COM.)
    Term-End Examination
    June, 2023
    BCOC–137 : CORPORATE ACCOUNTING

    Time : 3 Hours Maximum Marks : 100

    Note : Answer any five questions. All questions

    carry equal marks.

    1. (a) Describe the essential requisites for the

    valid allotment of shares as per Companies

    Act. 10

    (b) Explain the conditions under which

    redeemable preference shares can be

    redeemed. 10

    P. T. O.
    [2] BCOC-137

    2. You are required to pass the journal entries in


    the books of Shree Ram Fabrics Ltd. from the
    following, if : 20

    (a) It purchases assets of ` 6,00,000 and


    agreed to pay the price by issuing 10%
    debentures of ` 100 each at a premium of
    20%.

    (b) It purchased assets of ` 4,00,000 and


    liabilities of ` 40,000. It issued 9%
    debentures of ` 100 each, at a discount of
    10% to satisfy the net purchase price.

    (c) It purchased assets and liabilities of a firm


    for ` 5,00,000. The assets acquired were
    valued at ` 7,00,000 and the liabilities
    taken over were ` 3,00,000. The purchase
    price is to be satisfied by issue of 10%
    debentures of ` 100 each at par.

    3. Explain Cash Flow statement as per AS-3 in


    detail. 20

    4. The Trial Balance of Hanuman Iron Ltd. as on


    31st March, 2020 is as ahead : 20
    [3] BCOC-137

    Particulars Dr. (`) Cr. (`)


    Stock as on 01-04-2019 2,08,000
    Sales 21,60,000
    Excise Duty 40,000
    Purchases 17,00,000
    Wages 3,00,000
    Discount 74,960 40,000
    Furniture 4,00,000
    Salary 1,48,000
    Rent 37,800
    Sundry Expenses 20,280
    P & L A/c (opening) 2,04,240
    Goodwill 2,60,000
    Share Capital 10,00,000
    Debtors and Creditors 2,94,000 2,86,000
    Machinery 3,68,000
    Cash and Bank 1,05,200
    Reserve Fund 2,06,000
    Patents 1,20,000
    10% Debentures 2,00,000
    Interest on Debentures 20,000
    40,96,240 40,96,240

    P. T. O.
    [4] BCOC-137

    Additional Information :

    (i) Closing Stock on 31-3-2020 ` 8,80,000.

    (ii) Depreciate furniture @ 10% and machinery


    @ 15%.

    (iii) Write off ` 60,000 from goodwill and


    ` 20,000 from patents.

    (iv) Provision for Taxation 30%.

    (v) Proposed Dividend 15%.

    (vi) Corporate Dividend Tax 16.225%.

    Prepare Statement of Profit & Loss Account


    and Balance Sheet for the year ended 31st
    March, 2020.

    5. In consolidating Balance Sheets of holding


    company and its subsidiary companies, what is
    the accounting treatment of any five of the
    following : 5×4=20

    (i) Elimination of investment accounts

    (ii) Minority interest

    (iii) Cost of control

    (iv) Pre-acquisition profits


    [5] BCOC-137

    (v) Post-acquisition profits

    (vi) Revaluation of Assets and Liabilities

    (vii) Bonus share issued out of revenue profits

    (viii)Preference shares in subsidiary company

    (ix) Debentures

    (x) Contingent liabilities

    6. Describe the concept of ‘valuation of shares’.


    Write about the circumstances under which
    valuation of shares is considered necessary.
    8+12

    7. (a) Write a detailed note on ‘Alteration of


    Share Capital’. 10

    (b) What are the different methods of


    accounting for amalgamations ? 10

    8. (a) Explain buy back of shares. Also explain


    the motives and conditions of buy back of
    shares. 10

    (b) Describe the various functions of


    Commercial Banks operating in India. 10

    P. T. O.
    [6] BCOC-137

    9. (a) State the mechanisms of recovery of Non-


    Performing Assets (NPA) in India. 10

    (b) While preparing the Bank’s final accounts,


    how the following will be treated ? 212×4=10

    (i) Rebate on bills discounted

    (ii) Prevision for taxation

    (iii) Advances

    (iv) Investments
    [7] BCOC-137

    BCOC–137

    2023

    -137

    P. T. O.
    [8] BCOC-137

    ` ] ]
    ` 10% %

    ` ] ] ` ]

    % %

    ` ] ]
    ` ] ]
    ` ] ]
    ` %

    AS-3
    [9] BCOC-137

    ` `

    ] 2,08,000

    21,60,000

    40,000

    17,00,000

    3,00,000

    74,960 40,000

    4,00,000

    1,48,000

    37,800

    20,280

    2,04,240

    2,60,000

    10,00,000

    2,94,000 2,86,000

    P. T. O.
    [ 10 ] BCOC-137

    3,68,000

    1,05,200

    2,06,000

    1,20,000

    % 2,00,000

    20,000

    40,96,240 40,96,240

    (i) ` ] ]
    (ii) % %

    (iii) ` ] ` ]

    (iv) %

    (v) %

    (vi) %

    ]
    [ 11 ] BCOC-137

    5×4=20

    (i)

    (ii)

    (iii)

    (iv)

    (v)

    (vi)

    (vii)

    (viii)

    (ix)

    (x)

    P. T. O.
    [ 12 ] BCOC-137

    2 12 ×4=10

    (i)
    (ii)
    (iii)
    (iv)

    BCOC–137 12,850

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