(8) RollNo. ............

I C*'tr 21108
Printed Pages : 8
Unsecured Crediton 50,000
BCM /A-17
I 0olo Debentures 0nterest paid upto 3 0 SQtemt 61 201 I )
. 60,000 CORPORATE ACCOI,JNTING
Share Capital 1,000 shales of? 100 each 1,00,000 PaPer-II
Liquidation Expenses. 230 Time allowed : 3 hoursl [Mcimun martl : 80
Debentues werc paid offon 30 September, 2012. Liquidator's
Nole: Attempt Ih'. questiots in qll, selecting at least one
Iemuneration $as agreed at 3% on assets realised (excluding
cssh) and 2% on tlle amouf paid to unseqn€d qedito$. Pr€pore
q es,ionfrem eqchunlt bul not ore thqn tuofrom each
Liquidator's 6nal statemenlofaccount 16 unlt. All quesfions carry equal marks.

*qqi fl glrdr{ 30 kdq{, 2012 q} t6cr ryrr qql[6 6r aiz : c4s tdt I a d w gt rF RE c? f qfrq rd * sci
crftcfrd (qfrr{ fr {qd c( (t€ sl 6t-srt) 3% s 'fift-d ffi r.A gs W qh cfr dfrs t sf rrd * ul6 Prri lr
d { fli ql {lfi r{ 2% hfl-{( g€fir I {qlss 6r qF q E'{i!r utriH(rdi)
qI +c[r dtrcr 16 1. TATALId. invit€dapplicstions for2,oo,ooosharesofRs. l0
each payable as under : ?3pershareonappticatiotr;?3p€r
9. Write notes on the following :
Compaay. 4 share on sllotnent, { 2 per share on first call od ( 2 per share
G) Operating Expenses ofa Banking
G) BillforCollection 4 onfnal caIL
(rQ Bad debls and Provision for doubtfir.l debts. 8 Fidat call lvas not rrade W tlle c6mp€ny. Ar @plica[t who
ffitu< q{ feqFrqi frE( : had b€€n aUotted I ,000 slurEs failed to pay altoh€'nt alld first

O (q ahiq srff + riqrfi{ qq 4 . ca[moEeydr ftorn hirl. Hs $ares u,qe for&iEd8ftqtb 6rst
CD dn'd + frs f{d 4 call md werc immediately re-issuod at ? 8.50 per strse. Make

CD 'fid *q dqr TiE"q ft' d Rq orfi-q-{ t 8 nccessuy enties in tbejoumal and pr€pore tbe Asdtrg botance
sbeetofihecompqtry. t6
10. What is the dillercnce betweeo Life lnsurance and Geoeral
Insurance ? Prepare the Revenue Account of Life Ilsurance
er.r frfits t
10? ffir d{ qrft 2,00,000 stsft S frs cdn q{
Company along witb necessary schedules with imaginary figue.s.
erqFd frq q] Fcq r6R tc t- 3 I ft si$ qltsl c{, 3 < cfr
.in qltfi c(, 2 t rfr dPI cqq qr{n c( dT Aq 2 < qfrq qrfir
l6 rRt
ff<c frqr s
qrq {qr q flr 'r<.r ? a-ef+o t n # ri't fifr am qtnq qE{r
Id d't.rgrw cr{ Frsd 1,000
ort gc fi-+t {qr 6q-ff + qnq eR Ga-{ qtt) fl crcc Afrq l d{ qdEd k t,.rq qr qlt { ilqr Frrr qirrr d {Fr i} i
nqr {sd qr{s{s €r$(tqci q fun dtrct 16 qgq{ rarsg* dr q ccq qrr{ + sR ff Eer *r nql,r.n.*r
grd A 8.50( cfr si$ ({ gir ftrfqa 61 ftq11!r{s I elqm{
cfrFsd Tfiq nqr wfl sr qRfq6 frqft F{(q f T{r{ I 16

2t 108 lrrlosl flurn oltr

 (2t (7 )
firther infoimed that :
2. Write shofl not€s on : You aI€
shaEs
(a) Distinguish betweenright sbarss and bolus 4 (, There is no change in the Balanc€ ofceneral Reserve Since
Slst March 2015.
O) Debentue issued as collatrdl s€cudty. 4
(,
(c) Debefirc RedemptiolResea]E 4 On 2lst January, 2016 X Ltd. sotd to Y Ltd. goods costing
{ 36.000 fort48,000. 757o ofthese goods remained unsold
(d) When net assets method of valuation of shares is
with Y Ltd. in the end ofthe year. On account ofthese goods
apEopriate? 4
creditoN ofY Ltd. include t 20,000 owing to X Ltd.
rikq frrqFTqi ffi&c , ' GD Out ofrhe ac*ptarrces ofY lrd t 60,000 arc accept€d ill favour
($) ,aft{R dfr di{ +fl $s t qd{ d&c t 4 ofX Ltd. Out ofthese receivables, X Ltd, endoned ( 42'000
(u) rorr+ ffiqfr i eq i *qrrl or Fr{'T{ t 4 \rorth bills to its qr€ditors.
(r) *ql-* etq{ riqq I 4 Prepare a consoli&ted balance sheet as al' 3 I st MarclL 201 6.
16
(q) ,}is] + {qi6c d {-€ qqfr hF 6s sqgffi t? 4
els6l FrqftE .qfrR-ff qafi ff 'd f '
3. A company hes ? 60,000, 5% debenture outstaflding on lst 0 {sc * is q 3l qd, 2ol5 fr +{ {{dE Tff ilrqr I
(Iqr-c
Apdl, 20 I 1 . On that date the Debentures Rodemption Fund (D 21 q-{dt, 2ot6 d KI frfr2s i qri frEts d 16,000 <
< 50,000 rcprcsenred by { 59,000, 3% LoaD ofthe
stood at fr dFI( 61 qlH 48,000 ( q iqrrsn i q< t gq qld i
Govemment of India. The annual instalment added to the i 75% ql( sr{ RFts + crs ft{r F{fl gql cqr tr 4(
Deb€ntuls Redemption Fund is ? 8,230' On 3 I st March, 2012 idffi + ffi i 20,000 ? 6 d q's tff mt flFid t fr
the balance at bank (aflel Interest on ilvestments had been qtr hfrts d ssa ssR fiq H Ti qm i frs tq t t

reccived) was ? 15,640, Onthat date investsnents wer€ sold at q'ff frlcts *
GD sri frFas + clq I 60,000 < {rF-d t i
debe[tu€s urere paid off'
8370 net and the
clr il ft i
ffi qc trr{q rm frftts 42,ooo ? + i
Pass necessary journal entries and prepare ledger accounts
for qre tud rqci M
d iqn frq tt
theyear20ll-l2 16
sci-ff t 31, qd 2016 d cfi{( Rqfr k{{q fiEc I 16
t zotr d c{ +c-fi * 60,000 + 5% *'rqd sfi tr{s
qi-d,
uDit-m(tsltsil)
frtu d *qrd eiqi dq 50,ooo t sl t fs qRf, EftK *
q slft6 8. Hind Ltd. went into liquidation on 3l Ma&lr 2012 Following
59,000 ( + 3% {q i fsmtud trxqq* dEq ds was the position :
ffi( 8,230t d qt$ qra Al31 qd, 2ol2 61+6 sld (Ffr+|l] ft< lofrtc 61 3l crd, 2012 d qqrfi grnrrfeqh t{q trsR ff,
({ eM crH 6d + sR) 15,640 ? t I rs Hq d hfifr'r] d 83olo {
ga c{ aqt qql 'dtr *qri +r g'r { 6-{ frql lrsr I 2011'12 s{ lv{achinery, Stock aad Debts realised 90'000
+ Rq.arsw6 q{( nl4M I slt +cR dFql 16
castrinltund 5'ooo
Plef€rertial CEditors 4'000

21108 flumov€r
21108
 (6) (3)
7. x. Ltd. acquircd 9O,OO0 sharcs in Y Ltd. for {
11,20,000 on 4. Ram sold his business 10 Sham. Calculale lhe value ofgoodwill
3 I stAugust, 20 I 5, The balance sheets ofx Ltd. and Y Ltd. as taking into consideration the following factors :
at 3 lst March, 20 | 6 stood as follows : O Coodwill islalu€datttwe year's puchaseofavemge profit
cffi hfrtc i 3l ,fln4,2015 A sr{ Rfits S 90'000 d{ of last four yeam. The profit eamed by Ram for the
11,20,000 < I mq F6t I 3l qrd, 2016 d qfl ffrBls 3lR s( preceding four years ending 3 I s March each year were as
ftE?s + RqR fqfiq lqqfrkd q : follows:
Particula$ X. Ltd. YLtd' 2001 : ( 56,000, 2002 : t 75,000, 2003 : < 75,000,
2004 : t 55,000.
I. Eqr-rity and Liabilities : (! It was ascertained that the profit of 2001 ilcluded a non-
Shareholder'sFunds : recudng item ofincome oft 6,000.
Equity Sharcs of< I 0 eaoh firlly Paid 40.50,000 11,25,000
(i! Profit of2002 include { 15,000 as Income on Inv€strnents'
General Reserve 7,20,000 1,80,000
(iv) The reasonable rEmuneration oflhe propdetor ofbusiness
Suplus (Profit and l4ss)
is ( 9,600 per armun has not be€n considered for calculation
Balance as otr 1.4.2015 72,000 22,500
90,000
ofprofits.
Pmfit for 2015-2016 2,88,000
(v) The servic€s ofmanager will not be requfued in fuhue who
Cunent Liabilities :
Bi[s Payables 1,80,000 80,000 is getting( 10,000Perannum. 16

Creditors ))\ ,000 1,3 s oo0 m i {crq d ,rw q{$q i-qr r Freftiea qd d qH q {st gs
Total 55,3s,000 16,32,000 erft a qe rn dlqt '
n. Assets: O qlf{ il Tfll6{ frd qR 4ilqd+ drffd mE + {i{.r(sq + {qlfl
NonCuEntAssets: {s c{ 6.{ t I cfr s{ 3l A {qlF Ai sra sR
FixedAssets: I {q am qFlc flq a( r-dr t :
31,50,000 6,75,000 2001 : 56,000 (, 2002 : 75,000 (, 2003 : 75,000
(,
Plantand trdachinery
Fixnues and Fittings 4,00,000 3,15,000 2004: 55,000( 16

CO T€ dK gfl fr E{ 2o0l + fr I 6,000 t d

q6 s{r{ff
Inveshents (inYIld.) 11,20,000
CurrerfAssets: ffifr vrc fr rE mfqt Br
t
GD 2002 + (m 15,000 ( FFrfi' fr orc stf< tt
Inventories 2,00,000 1,42,000 q
Debtors 2,60,000 2,25,000 Gv) ffisrc Rrt d fi3
qlR{f{s 9,600t ffiE{ ? Frfr md d
BillRece oble 2,50,000 1,00,000 fl{ + frq qfrT rd HcI TcI Bt
Cash at Bank 1.55.000 1,75,000 (v) rq"rr{ d t{r$ fr sfi qr{{{cf,l rff €fr ii} 10'000 <
55,35,000 16,32,000 qlft{ cIF fi( rdr tr 16

21108 fltmo\p(
2t108
 (4) (5)
unit-tr(r*II) CursntAssets 65,000
5. Dstinguish baweenAEalgsEdion in the Dsrue ofmergcr and Inv€ntqix 70,000
AmalgrdiotrinthendneofpudEse. Exphinlbe melhods of TradeReceivable 7,500
calculation of puchase colsideralion as per Accouoting Cssh and Bank
Standard-I4. 16
Curent/Non Curent Assels

E-dc +1 r{h + \'+t6ol dqr a

d ryfr + \d6or d qd.r fl€
Share Issue Expenses 19,999
=
9,25,000
dtrcr 6c 'f,{c
fr qqn d hFrql A frqifiq c{c-14 + q-JsR On the above date, the company adopted the6116fr6!
qqsr{q I 16 scheme of recorstsrrction :

6. The follouing is the Ba.lance Slret ofV Ltd. as ar 3 I st MEqIL @ The Preference shares are to b€ reduc€d io futly paid shares

2016.
of< 75 and Equity Sharcs are !o be reduced to shares of
? 40 each firlly peid.
3l qd, 2016 sl fr frfqts fl Rqfd k{ar Eff ImR t : (0 The debqtu€s took ova inventories ad Tia& Recei!,ablcs
Paticulas: t in firll <grisfadion oftheir claims.
I. Equityardliabilities: (ii) The fictitious and iniangible assets to be eliminated.

Shaelrclder's Fund:
(iv) The Land and Buiiding to be apprecialed by 30% and
Machinery to be depreciated by 331%.
Share Capital :
(v) Experues ofReconstruction amormted to { 4,500.
3,000, 5% h€ference sharss of{ 100 each 3,00,000 Givejoumal entries incorpoBting the above scheme of
6,000 E4uity Sharcs oft 100 each 6,00,000 rcoonstuction 8d p!€paE the reconstucted Balance Sheel.
Profit 8rd Irss BalaDce (3,50,000) l6
Non{ummt Liabi.lities : rci-fi hfr sl wn i hqfrfuu Trffi'r d i-fl orl
+1 :

[qlFdR dd q] {.r 6( 75 ( cid ,isr plar gmr cr Rn

6% Debentures 1,50,000
B{rkl,oatr 1,50,000
O qs{r dR qrdr d{ sl qcl6{ 40t cft qn T,l-{cr gmr 6i
CrErEot Liabilities : trqI qrsr I
Trade Payables 75,000 CD {qc{q'fu1 i qrff i
+ X"t grcn q Et+ ilrr qqrF-s
Total 37ioo-o- crqdrql di ldqr r

II. 0D fi sd qE{c sqftfr d rrcldEn t6{ Rcr qqqr I

Gv) {R cd qfi d 30oZ A {flqr qlqtll nqr q{H s] 33*% fr
Assets:
Noa-Cure Assets: uft-d lfir qsal r
r rnd adBuildinss 3,00,000 (v) 5rffiq + qc 4,500 t gc I

4,50,000 yiffi'r +1 qy$ft qt{nr d ml fii + fdq !r{R chEci

Cno<hrrill 22,500 ffiq nq gl, Frdq + qEm 6r Rqfr F{{q r{r{c I t6
21108 l]irosl lTurn olsr
 Roll No.
Printed Pages : 15
21017
BC]WA_18
CORPORATE ACCOIJNTING
Paper-BC-202
Time allowed : 3 hoursJ [Maximum marl<s : B0
Note : Attempt live questions in all, selecting at least one
questionfrom each unit but not more than lwofrom each
unit. All questions carry equal marks.
It: ed6firt #aqi wwtET W otfuffiselwqrr
o-rigs, gd fa sfi dfrsts'fr nrt I siq sqn dt
unit-t(pr{-I)
l. Asha Limited invited applications for 10,000 shares of (100
each at a discount
of6% payable as follows :
OnApplication <25
OrAllotnent < 34
On firstand final call < 35
The applications received were for 9,000 shares and all of
these were accepted. All money due were received except the
first and final call on 100 shares which were forfeited. 50 shares
were re-issued @ < 90 as fully paid. Assuming that all
requirements of law were complied with. Pass entries in cash
book and joumal of the.company. Also show how these
transactions will be reflected in the company's balance sheet. 16
3iler Rfrts i 100tcR oier Erfr 10,000sin oxs-ftfr cr
fuiH"( +.G + hc o{tfi cd srrikf, ffirfu++r grdn Rq
q-on t *cr sr :
oni-Eq w 25<
orFiE{ c{ 34<
qqq q qkq qrq-{ q{ 35 <

21017 [Tum over

I
 (2)
9,000 qifr *
frq sfltfi-qd crq gc +( flfr d-sm 6-{ fuc (3)
'rA r k{q 100 eier, H{ rR cqq q .aftq q5aqr d nRr HK Tff
gi r€ srcaRf, +t kq.rqr$rfr o{RR-fi r*
nM Hrq q( It was decided to redeem the preference shares on the above
N<'$^,lit50eiril 6r gr: fufqq 90(qfr ']irt + Eflre Wi ed date at a premium of 6%. For this purpose 8,000 new equity
Eq q FF'qI TqI
shares of { l0 each are issued at a premium of { I per share.
I

qa qnt eq r+ ors-{ .tr s"ir omrqs-flst qir w sr frqr

qq1|;6ffi ,H toE ca q q-+d { enqtq+ qfrM"dfrcr{6 Passjoumal entries and prepare the revised balance sheet. 16
S kqr{q tu rc a-{-tfr + sq-fr + Rqfr hqrr +t
wqfir
i ffi 31qd, 20ll d ctr Rfrts sr Rqfr ftqruT ffifufl qI -
tr{{ur
2. The Balance Sheet of X. Ltd. as on 3 1st March, 201 1 was as
I slrfl (qI flfuFI :
follows :
u{* tfr
Paticulas
Wta'
qHa 50,000(Tff eisr 5,m,om
Equity and Liabilities :
SlEeCqthl tr&{ lootd Wto,
qrfua 2,ooo,
50,000Equity sharcs of ll0eachfirllycalledrp 5,m,m0 l2%erfqqF eiv (rtq-frq) Zm,ooo
2,000 12% Beference Slrues (Redeunable)of {irq srBq crq crfir( (< 20 qfr si{) Zmo p&m
tl00eactrflrllycalledr.p Zm,mO 1,flo
cfr:1fr fiEcq
Lesscalls-in-amars (?0perslrare) 1m0 l9&m0
drq Hqr 6lfr r-ls 3,40,0m
Soo.nityPrunirun l,6m
kofit and lnssBalance
qrq Erf{f, :
3,40,m0
Current Liabllities : *q*ffi 0N
Trade Palabla w 11, 00 000

Asets :
Total 11 000
fl. qqftrqt:

NorrCu::rntAsseb
tt-aq uemt
qet-{t 4,m,m0
I\4adrirEry 4,m,m0
CunentAsseb: qq(qffrqt:
kventc,ries em,mo {+s zm,mo
Trade Receivables 1,60,0m qNR qtqdrq 1,60,000
CashatBank 3,40,m0
t{ t t-+-s 3,40,m0
1100,m0
lLm,000

210t7
[Tumover
| 21017
 (4) (s)
sct-n Rfu fr 67"ftfiqq trt glifYoR sifr fi etq{ 6-G Profit and Lnss A/c Balance 15,000
6r Fplq fuqr rr+ r {s se$c + Rc 10 t srA 8,000 qc trat sifr
Profitfor2Oll-2012 2,00,000 2,15,000
sr t< cft €i{r fiRqq q{ Hr{ Bqr .rqr r iffirrqr qR&qi
e-{r{q ffir dfira f{Fr ftqn dlqc r
Wortmen Compensation Fund 20,000

3. Write notes on tlrc following :

Non4urrent Liabilities :

G) How the discount on issue ofdebentures written off? l0lo Debenhres 1,75,000

($ Cum Interest and Ex-lnterest Purchase ofDebentures. Current Liabilities :

GD Contingentliabilities. Trade Payables I,00,000
(v) In which circumstances Net Assets method is appropriate
Total 7,60,000
for the valuationofshares ? 16

frq ct R:qFrqi ft&q :

II. Assets :
NoF{urrentAssets
O xqci + frrfq{ q( +'.+fi d fue c-6R srqftk( fuqr qrar :

t? Brflding 1,50,000

G) T"rl-fr +r qrq sFa q qrE rFd qt-fir Plant 1,25,000

GD s{sfu6 Erfus Investnent for Plant Replacement 1,00,000
Gv) .t'sil + Tqio-t n g< vefr Ef\ hc <rnsil d sfq6 r6ft
CurrrentAssets:
t?
Trade Receivables 1,25,000
4. Following is the Balance Sheet of Roshni Limited for the year
ending at 31st Much,2012. Inventories .. 1,40,000

Particulars Cash 1,10,000

I. Equity and Liabilities : Current /Non-currentAssets :

Shareholder's Fund : Unamortized Expenses 10,000

Share Capital :
Total 7,60,000
25,000 Equity shares of (10 each 2,50,000

21017 21017 [Tum over

 (7)
(6)
a. sqft<i:
capital ernployed is 2fflo'
Normal rate ofretum on average tt-aq wfuii ,

2 years purchase ofsuper

profits'
Find the value of goodwill by q{i 1,50,000
( (
and plant at 25'000' All
Buildings are revalued at 2,75'000 {qT l,25,000

other assets are with book value'

igrore taxation'
16
{q{ cfrsrqq + frq Fi* 1,00,000

3l qr{, 2012d mlq At sTA s{ + Rc tsrfi FtRts 6r Hgr er{ rqtfi<i :

qqn qqcr(
frffiffi|: 1,2s,000

{a-d 1,40,000
F+rq
tsg 1,10,000
L q{il ilI ElFlFI : qq/+( qq. qqRrqi :
dnqn+ d Ffq : k+ e-d fuc.rc q{ 10 000

dsr ffr , g( 7,60,000

e-&6 < 10 + 25,000 $rdl q{r 2,50,000 cqtfid EFr+FH (ff w unr< u-em d s-r zoxtrorkfffr
qrfl'*c 15,000
* d gt w wtR or Tqi+=q frftqsrfi dqr qiesr giffifi
am-afq
6q{: 2,75,000 < dqr 25,000 .cr goil r is ffi (qRrd gw$q
2,1s,000
2011-2012egilq 2,00,000
{s c{ Tflifu( fr.ri trort d sqn { c-d rq-{r tt
sffi eftrfi Htu
20,000
' unitil(r+r{-tr)
rk aq-aFm :
5. Distinguish between Internal Reconstruction and Extemal
1,75,000
l0% *qq:r Reconsuuction. Wbat enties are made in the books ofa mmpalry

qrqcIFrfI :
in Internal Reconstuction ? 16

o{r<R-6 gftrur defi q'q STffiqr q q61 qq fiftql

1,00,000
erqn ?qilq
. ut<Fas gqffior + q&q-q i m'qfi m gmd q flr qRRqt fr
w 7,60,000 GITdI € T

21017
21017
 (8)
(e) 6. A Ltd. and B Ltd. agree to amalgamate and promote a
new company to be registered as Radha Ltd. with a capital of
The consideration for the sale ofthe respective undertaking to
newcompanyis:
< 15,00,000 in t I share, to take over their respective
A Ltd. : The allotment of 5,00,000 fully paid shares oftl each, undertakings. The balance in the books of the respective
a payment of( 1,15,000 in cash and discharge the Dehntures companies at the date of amalgamation were as follows :
debts at a premium of 5%.
B Ltd. : The allotnent of2,00,000 firlly paid shares of t I each Atrd Bltd

and the payment of { 25,000 in cash. Equiry,Liabftix&Aseb D CT D o

The formation expenses ofthe new company amount to
< 3,200.
( t t (

The new company makes public issue of 2,00,000 slwes

a IssulC4id:
to provide additional working capital. Tte issrr is fully sutscribod
AIrd50,m Sansof(lad 5,m,m
and paid for in full an allotment. Close the books ofthe old
BLtid.3,m,0mSknof?ld 3,00m
companies and give enties in the Radha Company's books. 16

c Rfrts gtr *
frfqts \'#o,{"r + ftc ffird g{ $R T$ 6q-{ 13%D$erfrm l,m,om

{rsr frfcts sr c-{+{ tuqr, hod tfr ls,0o,000tAfi fr R l< Gmd\illl l5,m
cR oi$ * sifr q fsqfq( frfirmt lfifrLs +fr oqFrfr +
2J0,m
qEsrfr *r oifuTgqr 6t'trqds..ior fr Rfu st +fr 6qFrq1 d Latd&Buildmg 140,m

gtr+if { frn iv t : Plart&l{adhery H5,m m,m

c. R. il. tu. Itrvmtoh u0,m 75,m

6qfi, Erfufl ilsr sqfrqi D G D G

Tra&FdJmUes 56,0m 48,m
( t { (
Trd&Receidl€s u4m m,m
ffitfi, Bd{rcedBa* 77,0m zom
c. ffi. !-&s ( I + 5o,ooo oi{r 5.m,m

fr. fr. rAs {l A 3,oo,mo l.m.m Rfslr m,0m 15,0m

l3%*!rs{ L0m Pmfit&hs 4,m 40m

qfr ls,m
i5l.m 751.0(r0 3,67,m 3,6i,m

Xfr nqr
q-fi 4s'm 1.40m
21017 ISee9th page

21017 [Tum over

 ( l0) ( lt )
dth rur qftrtt r5,m il,m
GD Minority Interest
1-+s 120,m 75,m
(iv) Interim dividentpaid by subsidiarycompany. 16
erqrc trorq 56.010 48,0m
FrqRit( c( liBq PqPrqi f6tuq :
qIqR qrq-drq
u4,m m,m
O frTqq fr wH
+6qfrc 7,m zm
CD o{qfrffi
(qq m,0m b,m
6ii; ':rom Re
mq aq oft 4,m 4,0m
(rv) ildr{rs oqft am grml(q dtEi$ gsrqrl
7,5t,m Dl,0m 3,67,m 3,67,m
Unit-rfl(qfl-{-m)
Ti sqft + ftq sqFq-d sr6q1 A Ef Bg ft.no t ,
8. What is liquidation ? What aethe various metrods forthe wfuding
c fr&ts -t {cft oisr ard s,oo,ooog4
Tffir dfr 6i crm.{,. upofacompany? 16

I,15,000<Ts'.fr i g,rrm 0t{ *"rr* 61 5%fffrcq c( gmffi I fr{t 6Er* * Fcn"r i snc flr HffiA E ? ffi sqfi + Hqtqq
fr. frfris - l<qh d{r Eril 2,00,000g0i gffir q5 +r snifi +l lilqi{ Ffer.rl iFIr E/
,:tr zs,ooo<c-6-( { g.ronr 9. From the following informations prepare the profit and
loss account of New Bank Limited for the year ending
T{ sqfr t €qfdkff +r{*fl-d tfr 6 q+wr * frc z,oo,ooo 3l March.20l5.
.:icl d{ff d fulh( Eq r fi Fs oial mr gi g,ron urtieq' u-r
d .mr grrff m'qftfr d S6-d d c< frHq nlL wr 6,q-fr d 2,59,000
Interest on Loans
gwd { cREqi dBqr
Interest on Fix Deposit 2,75,000
7 , Write short notes on the following : Commission 8,200

(, Cost ofControl Establistmert 54,000

Dsoount on Bill Discounted 1.95,000

(ii) MuhnlOwings
Interest on Cash Credits 2,21,O00

21017 2t017 [Tum over

 (12) ( 13 )

Interest on CurrentAccounts 42,000 gqrc {c kdl c( 6trfr 1,95,000

Auditor's Fees l,2OO ffiq tR alFt
T.Eq 2,23,000
Rent and Tixes I 8,000 qqqlfr (r( qM 42,000
Interest on Ovbrdraft 1,54,000 .t'M d ffq t,200
Director's Fees 3,000 fu{rqr s 4r 18,000

Interest on Saving Bank Deposits 68,000 sifqffi q{ qrE 1,54,000

Postage and Telegrams I,400 ffifrfiq 3,000

Printing and stationery 2,900 Tqfr +f ffi IR dIFT 68,000
SundryCharges 1,700 gF[ iT ffT 1,400

Following further inforrnation is given sG s Aq{ ffqff 2,900

(, Bad - Debts is to be written offamount to ( 40,000 Ehq qq 1,700

fif Provision fortaxation may be made 55Yo qfdfrffW-{rc PffiffiS:

(ii) Balance ofprofit for the lasf year was { I ,00,000 O q+( {fr fr 4o,ooo<fr qcfrkd s'fir tr
(iv) Provide ( 30,000 for Dividends. 16 GD s,t + ldc 5s% d <r fr qrqqm q-{Hr } I

Frqftfu( q+{rsn fr sd t 'r€ fr :r qrd', 2015 d A +6 GD REil q{ * drq fl *c l,oo,ooo<sn

frfrts fi drq-6rH srdr eqR dhct (iv) 30,000 (ilqi$ ff sr{qH q-{n } I

(
ro. 6) F'rom the following particulars of Sky Fire Limited,
z{ qr qrE 2,59,000
prepare the fire Revenue Account lbr the year ending 3 I st
{srff B&rtr w qrq 2,75,000 March, 2015. l0
offti-r 8,200 (('000)
{tITq-IT 54,000 Premiums Received 3.600

2t0t7 ztat7 [1'um,rver

 (14) (15)

Prernium
Re-Insurance 360

Commission 600 Gi) Write short notes on the following :

Management E4penses 900 O Indemnity Period

Provision against unexpired risk on I stApril, 20 I 4 I ,560

(i) Standard Tumover

(if ShortSales 6
Clairnspaid 1,410
ffifuo q{ rihq ftqPsi ffi :
I-egal oqensesylxingclaims 30
(i) Hfr[ffi q-qe
Claimsunpaidon lstApril, l0l4 120
(ii) cqN srTd
Claims unpaid on 3lst March,2015 2lO
GD R'sq q sfr
srt qrfi RfrLs d Ra qa1rcil i 3hd', 2015d Hqrq
ai sr0 sd + frc qF{ t*t qnr r<rqcr

(t'o0o)
qrK fifrqq 3,600

grtrqr ftfrqq 360

offsH 600

r{q-dq eq 900

.reqrK dfuq + frc ftq lsrfd, 2014 s] 1,560

TflE TE EA 1,410

u,4 q 6{fU-a srdfi q{ 30

of,{.{ sr+ l.r}d,2014 fr 120

or(f, Era 3 qr{, ZOIS d 210

21017 21017
I
Roll No. ...................... Total Pages : 12
BCM/M-23 14008
CORPORATE ACCOUNTING
Paper–BC-202

Time : Three Hours] [Maximum Marks : 80

Note : Attempt five questions in all, by selecting atleast one

question from each unit; but not more than two questions
from any unit. All questions carry equal marks.
uksV % izR;sd bdkbZ ls de ls de ,d iz'u rFkk vf/dre nks
iz'uksa dk p;u djrs gq,] dqy ik¡p iz'uksa dk mÙkj nhft,A
lHkh iz'uksa ds vad leku gSaA

UNIT–I (bdkbZ–I)

1. Explain the following in detail :

(a) Conditions for the Redemption of Redeemable
Preference Shares.
(b) Classification of Debentures. (8+8=16)
fuEufyf[kr dks foLrkjiwod
Z le>kb, %
(d) 'kksf/r iwokZf/dkj va'kksa ds 'kks/u dh 'krs±A
([k) ½.ki=kksa dk oxhZdj.kA

2. Omega Ltd. invited applications for issuing 60,000 Equity

Shares of ` 10 each. The amount was payable as follows :
(a) ` 3 per share on Application.
(b) ` 2 per share on Allotment.
(c) ` 5 per share on First and Final Call.

14008/600/KD/78 [P.T.O.
7/7
 Applications were received for 1,32,000 shares. Applications
for 12,000 shares were Rejected and their application money
was refunded. Shares were allotted to the Remaining
applicants as follows :
(i) Allotted 50% shares to Alfa who had applied for 24,000
shares.
(ii) Allotted in full to Beta who had applied for 12,000
shares.
(iii) Allotted the balance of the shares on pro-rata basis to
the other applicants.

Excess Application Money was utilized in payment of

allotment and final call. All calls were made and were duly
received except the first and final call on 360 shares allotted
to an applicant in Category (III). Pass the Journal Entries for
the Above Transactions. 16
vksesxk fyfeVsM us 60]000 lerk va'k fuxZfer djus ds fy,
vkosnu i=k vkeaf=kr fd,A budk Hkqxrku fuEu izdkj fd;k tkuk
FkkA

(d) vkosnu ij ` 3 izfr va'k

([k) vkcaVu ij ` 2 izfr va'k

(x) izFke rFkk vafre ;kpuk ij ` 5 izfr va'k

1]32]000 va'kksa ds fy, vkosnu i=k izkIr gq,A 12]000 vkosnu
i=kksa dks vLohÑr dj fn;k x;k rFkk vkosnu ij izkIr gqbZ jkf'k
okfil dj nh xbZA 'ks"k fuEu izdkj ls va'k vkcafVr fd, x,A

14008/600/KD/78 2
 (d) vYiQk] ftlus 24]000 va'kksa ds fy, vkosnu fn;k Fkk mls
50» va'k vkcafVr fd, x,A

([k) chVk] ftlus 12]000 va'kksa ds fy, vkosnu fd;k Fkk] iw.kZ
va'k vkcafVr fd, x,A

(x) 'ks"k vkosndksa dks vkcaVu vkuqikfrd vk/kj ij fd;k x;kA

vkosnu ij izkIr vfrfjDr jkf'k vkcaVu rFkk izFke ;kpuk
ds fy, mi;ksx dh xbZA lHkh ;kpuk,a izkIr gqb± ijUrq ,d
vkosnd ftls III oxZ esa 360 vkcafVr fd, x, Fks] mlls
izFke rFkk vafre ;kpuk dh jkf'k izkIr ugha gqbAZ

bu lHkh ysu&nsuksa dh tuZy esa izfof"V;k¡ dhft,A

3. Explain the Methods of Valuation of Shares? How would

you decide which method to use for valuing the Shares?
16
va'kksa ds ewY;kadu dh lHkh fof/;ksa dh O;k[;k dhft,A va'kksa
ds ewY;kadu ds fy, fdl fof/ dks mi;ksx fd;k tk,] ;g
vki dSls fu/kZfjr djsaxs] crkb,\

4. Z Ltd. provides the following information : 16

(1) Profits/Losses after tax @ 40%.
2010-2011 2011-2012 2012-2013 2013-2014 2014-2015
Losses Profits Profits Profits Profits
` 5,50,000 ` 9,04,320 ` 12,04,320 ` 15,04,320 ` 18,04,320

The loss in 2010-2011 occurred due to a prolonged strike.

(2) Incomes from non-trade Investments ` 7,200 p.a.

14008/600/KD/78 3 [P.T.O.
 (3) In 2012-2013, a Machine having a Book Value of
` 10,000 was sold for ` 11,000 but the proceeds were
wrongly credited to Profit and Loss Account (No effect
has yet been given for rectifying the same).
Depreciation is charged on Machine @ 10% on reducing
Balance Method.
(4) Closing Inventories were under-valued by ` 10,000 in
2012-2013; by ` 9,100 in 2013-2014; by ` 8,290 in
2014-2015.
(5) Increase in Manager's Remuneration with effect from
1st April, 2015 ` 2,00,000 p.a.
(6) Advantage from New Contract for Supply of Goods
with effect from 1st April, 2015 ` 4,00,000 p.a.
(7) Rate of Income Tax 30% with effect from 1st April,
2015.

Calculate the Value of Goodwill at 3 years' purchase of

Average Profits.
tsM fyfeVsM ls fuEufyf[kr lwpuk,a izkIr gqb± %
(1) ykHk@gkfu] 40% dj ds mijkUrA

2010-2011 2011-2012 2012-2013 2013-2014 2014-2015

gkfu ykHk ykHk ykHk ykHk
` 5,50,000 ` 9,04,320 ` 12,04,320 ` 15,04,320 ` 18,04,320

yEch gM+rky ds dkj.k 2010&2011 esa gkfu gqbAZ

(2) xSj&O;kikfjd fuos'k ls vk; ` 7,200 p.a. gSA

(3) 2012-2013 esa ,d e'khu ftldk iqLrd ewY; ` 10,000

Fkk mls ` 11,000 esa csp fn;k x;k ijUrq xyrh ls ykHk
14008/600/KD/78 4
 rFkk gkfu [kkrs esa bls ØsfMV (Credit) dj fn;k (vHkh
rd bls la'kksf/r ugha fd;k x;k gS)A e'khu ij 10» dh
nj ls ?kVrs gq, ewY; (Reducing Balance) fof/ ls ßkl
yxk;k tkuk gSA

(4) vafre LVkWd dks de ewY;kafdr fd;k x;k_ 2012-2013;

esa ` 10,000 ls_ 2013-2014; esa ` 9,100 ls_ 2014-2015
esa ` 8,290 lsA

(5) eSustj ds ikfjJfed esa 1 vizy

S ] 2015 ls ` 2,00,000
p.a. dh o`f¼ gSA

(6) eky dh iwfrZ ds u, vuqca/ ls 1 vizSy 2015 ls

` 4,00,000 p.a. dk ykHk gksuk gSA

(7) 1 vizy
S ] 2015 ls vk;dj dh nj 30» gSA

[;kfr ds ewY; dh x.kuk dhft, tksfd vkSlr ykHkksa ds

3 o"kZ ds Ø; ds vk/kj ij dh tkuh gSA

UNIT–II (bdkbZ–II)

5. Show the Calculation of Minority Interest and Calculation

of Goodwill/Capital Reserve in Consolidated Balance Sheet
of Holding and Subsidiary companies (take suitable
examples)? 16

fu;a=kd rFkk lgk;d dEiuh ds ,dhÑr fLFkfr fooj.k esa

vYila[;d fgr rFkk [;kfr@iwath lap; dh x.kuk dks n'kkZb,
(mfpr mnkgj.k yhft,)

14008/600/KD/78 5 [P.T.O.
6. X Ltd. takes over Y Ltd. Given below are the extracts from
the Balance Sheets of these companies at 31st March, 2015.

Particulars X Ltd. (`) Y Ltd. (`)

Equity Share Capital of ` 10 each 30,00,000 12,00,000

Reserves and Surplus NIL 10,00,000
15% Debentures NIL 8,00,000
Current Liabilities 3,00,000 1,00,000
Tangible Block 24,00,000 18,00,000
Goodwill NIL 1,50,000
Non-Current Investments 1,00,000 NIL
(` 1,00,000, 6% tax free G.P. Notes)
Inventories 1,90,000 2,20,000
Other Current Assets 6,10,000 9,30,000
Additional Information
Particulars X Ltd. Y Ltd.
Tangible Block Understated by 20% Overstated by 20%
Goodwill ` 17,90,000 ` 70,000
Inventories Understated by 5% Overstated by 10%

X Ltd. to issue shares to share-holders of Y Ltd. at a price

of ` 1 above the intrinsic value of its shares on the date of
take-over. The market value of an equity share of X Ltd. at
present is ` 100. The scheme of amalgamation was not
supported by 100 shareholders of Y Ltd., and had to be
paid ` 10 per share above their intrinsic value as
consideration. The amount of the dissenting shareholders was
borne by X Ltd.
14008/600/KD/78 6
 Calculate Purchase Consideration and show the Discharge
Thereof.
X fyfeVsM us Y fyfeVsM dk lek;kstu fd;kA vkxs 31 ekpZ]
2015 dks bu dEifu;ksa ds fLFkfr fooj.k dk C;ksjk fn;k x;k
gSA
fooj.k X Ltd. (`) Y Ltd. (`)
lerk va'k iwath ` 10 izfr va'k 30,00,000 12,00,000
lap; rFkk vf/'ks"k NIL 10,00,000
15% ½.ki=k NIL 8,00,000
pkyw nkf;Ro 3,00,000 1,00,000
ewrZ [kaM (Tangible Block) 24,00,000 18,00,000
[;kfr NIL 1,50,000
xSj&pkyw fuos'k 1,00,000 NIL
(` 1,00,000, 6% dj eqDr G.P. uksV~l)
LdU/ (Inventories) 1,90,000 2,20,000
vU; pkyw lEifÙk;k¡ 6,10,000 9,30,000
vfrfjDr lwpuk,¡
fooj.k X Ltd. Y Ltd.
ewrZ [k.M 20% de vkadk x;k 20% vf/d vkadk x;k
[;kfr ` 17,90,000 ` 70,000
LdU/ 5% de vkadk x;k 10% vf/d vkadk x;k

lek;kstu (Take-over) dh frfFk dks X fyfeVsM us Y Ltd. ds

va'k/kfj;ksa dks va'kksa ds varHkwrZ (Intrinsic) ewY; ls ` 1 vfèkd
ij va'k fuxZfer djus gSaA
14008/600/KD/78 7 [P.T.O.
 X fyfeVsM ds va'kksa dk orZeku cktkj ewY; ` 100 gSA
lek;kstu dks Y fyfeVsM ds 100 va'k/kfj;ksa dk leFkZu ugha
feyk] bUgsa va'kksa ds varHkwrZ (Intrinsic) ewY; ls ` 10 vfèkd
dk Hkqxrku izfriQy&Lo:i fd;k tkuk gSA vlger va'k/kfj;ksa
dh jkf'k dk ogu X fyfeVsM }kjk fd;k x;kA
fLFkfr fooj.k ds C;kSjs rFkk vfrfjDr lwpukvksa ds vk/kj ij
ozQ; izfriQy dh x.kuk dhft, rFkk Hkqxrku fdl izdkj fd;k
tk,xk] n'kkZb,A

7. Describe the following :

(a) Reduction of Share Capital and its Journal Entries in

case of Internal Reconstruction.
(b) Difference between Internal and External
Reconstruction. 8+8=16
fuEufyf[kr dk o.kZu dhft, %

(d) vkarfjd iqufuZekZ.k ds lanHkZ esa ^va'kiwth esa deh* dh

tuZy izfof"V;k¡A

([k) vkarfjd rFkk czkÞ; iqufuZekZ.k esa vUrjA

UNIT–III (bdkbZ–III)

8. What is a Book Keeping System for a Banking Company?

Explain in detail the Characteristics of a Bank's Book
Keeping System, and its Principal Books of Accounts? 16

,d cSafdax dEiuh dh ^iqLrikyu iz.kkyh* D;k gksrh gS\ cSad

dh ^iqLrikyu iz.kkyh* dh fo'ks"krkvksa rFkk blds ys[kkadu dh
iz/ku iqLrdksa dk foLr`r o.kZu djsa\
14008/600/KD/78 8
9. Y Ltd. went into Voluntary Liquidation on 31st December,
2014 when its Balance Sheet was as follows :

Capital and Liabilities ` Assets `

50,000 Equity Shares of 4,75,000 Freehold Factory 5,80,000
` 10 each fully paid
less calls in arrears
amounting ` 25,000
6,000 5% Cumulative 6,00,000 Plant and Machinery 2,89,000
Preference Shares of
` 100 each fully paid
Security Premium Account 50,000 Motor Vehicles 57,500
5% Debentures Account 1,00,000 Stock 1,86,000
Interest on Debentures 2,500 Debtors 74,000
Bank Overdraft 58,000 Profit and Loss
Account 2,14,000
Creditors 1,15,000
Total 14,00,500 Total 14,00,500

The Preference dividends are in arrears from 2011 onwards.

The company's articles provide that on liquidation, out of
the surplus assets remaining after payment of liquidation costs
and outside liabilities, there shall be paid firstly all arrears of
Preference dividend, secondly the amount paid up on the
Preference Share together with a premium thereon of ` 10
per share, and thirdly any balance then remaining shall be
paid to the equity shareholders. The Bank Overdraft was
guaranteed by the directors who were called upon by the
Bank to discharge their liability under the guarantee. The
directors paid the amount to the Bank.

14008/600/KD/78 9 [P.T.O.
 Y fyfeVsM 31 fnlEcj] 2014 dks LoSfPNd lekiu esa pyh
xbZA bl fnu fLFkfr fooj.k bl izdkj jgk %
iwath rFkk nkf;Ro ` lEifÙk;k¡ `

50,000 iw.kZLr lerk va'k 4,75,000 fu"dj dkj[kkuk 5,80,000

` 10 izfr va'k] ?kVk vnÙk

;kpuk ` 25,000
6,000 5% lap;h IykaV rFkk e'khujh 2,89,000
iwokZf/dkj va'k 6,00,000
iw.kZnÙk ` 100 izfr va'k
5» ½.k i=k dh jkf'k 50,000 eksVj okgu 57,500
½.ki=kksa ij C;kt 2,500 LdU/ 1,86,000
nsunkj 74,000
cSad vf/fod"kZ 58,000 ykHk rFkk gkfu
[kkrk 2,14,000
ysunkj 1,15,000
;ksx 14,00,500 ;ksx 14,00,500

2011 ls ysdj vc rd iwokZf/dkj va'kksa ij ykHkka'k cdk;k gSA

lekiu dh n'kk esa] dEiuh ds vaUrfuZ;eksa ds vuqlkj] lekiu
O;; rFkk cká nkf;Roksa ds Hkqxrku ds ckn 'ks"k lEifÙk;ksa esa ls
loZiFz ke iwokZf/dkj va'kksa ij ykHkka'k fn;k tkuk gSA nwljs LFkku
ij] iwokZf/dkj va'kksa dk ` 10 izfr va'k izhfe;e lfgr Hkqxrku
gksuk gSA blds mijkUr 'ks"k jkf'k esa ls lerk va'k/kfj;ksa dk
Hkqxrku fd;k tk,xkA cSad vf/fod"kZ dh xkjUVh funs'kdksa }kjk
nh xbZ Fkh] ftUgsa cSad }kjk viuh xkjUVh iwjh djus ds fy,
cqyk;k x;kA funs'kdksa us cSad dh jkf'k dh vnk;xh dj nhA

14008/600/KD/78 10
 The liquidator realised the assets as follows :
Particulars `
Freehold Factory 7,00,000
Plant and Machinery 2,40,000
Motor Vehicles 59,000
Stock 1,50,000
Debtors 60,000
Calls in Arrears 25,000

Creditors were paid less discount of 5%. The debenture and

accrued interest were repaid on 31st March, 2015. Liquidation
costs were ` 3,820 and the Liquidators remuneration was
2% on the amount realised.
Prepare the Liquidator's Statement of Account.
lEifÙk;ksa dk iquewYZ ;kadu fuEu izdkj gqvk %

fooj.k `
fu"dj dkj[kkuk 7,00,000
IykaV rFkk e'khujh 2,40,000
eksVj okgu 59,000
LdU/ 1,50,000
nsunkj 60,000
vnÙk ;kpuk 25,000
ysunkjksa dks 5» NwV ds ckn Hkqxrku fd;k x;kA ½.ki=kksa ij
C;kt rFkk mikftZr C;kt (accrued interest) 31 ekpZ] 2015
dks Hkqxrku fd, tkus gSaA lekiu ds O;; ` 3,820 gq, rFkk
olwyh xbZ jkf'k ij lekid dk ikfjJfed 2» jgkA fuLrkarj.k
dk vafre fooj.k rS;kj dhft,A

14008/600/KD/78 11 [P.T.O.
10. Write notes on : 8+8=16

(a) Books required to be maintained by Insurance

Companies.
(b) Kinds of Liquidation.
fuEu ij fVIi.kh dhft, %

(d) chek dEiuh }kjk cukbZ tkus okyh ys[kkadu iqLrdsaA

([k) dEiuh lekiu ds izdkjA

14008/600/KD/78 12