Tuesday, June 28, 2016
Roll No........................
Total No.
of Questions : 07
B.Com. (Sem.–2nd)
ADVANCED ACCOUNTING
Subject Code
: BCOP-201 (2011
& Onward Batch)
Paper ID
: [B1117]
Time :
3 Hrs.
INSTRUCTION
TO CANDIDATES :
1. SECTION-A is
COMPULSORY consisting of
TEN questions carrying TWO
marks each.
2. SECTION-B contains
SIX questions carrying TEN marks
each and students has
to attempt any
FOUR questions.
SECTION-A
l.
Write briefly :
(i) Limitations of
single entry system
(ii) Accounting
treatment for subscriptions in a club
(iii) Treatment of bad debts in consignment
accounts
(iv) Joint venture vs.
Partnership
(v) Interest on Capital
(vi) Partnership deed
(vii) Fluctuating
capital
(viii) Memorandum
revaluation account
(ix) Gaining ratio
(x) Piecemeal
distribution
SECTION-B
2.
Explain the Single
Entry System. How the
profits are determined
under this system?
3.
What journal entries
are passed in
the books of
hire purchaser and
the vendor in case of goods sold under hire purchase system?
4.
What do
you understand by
consignment and how it
is different from sale? Also define
and distinguish between ‘account
sales’ and ‘invoice’. Support your answers with
examples.
5.
Tom and
Jerry are partners
in a business.
During the course
of 2008,Tom withdrew
Rs. 12,000 and
Jerry withdrew Rs. 6,000
out of business for
personal use. Interest
on drawings is charged
at 10% p.a. You
are required to calculate
the amount of
interest on drawings
making such presumptions as
you deem necessary.
6.
Define Goodwill. Explain the different methods of valuation of Goodwill.
7.
(a) If there is change in the profit
sharing ratio of the existing partners; is it necessary to revalue the assets and liabilities? Give
reasons for your answer.
(b)
Explain the accounting
treatment of goodwill when
at the time
of admission, the new partner cannot bring his share of goodwill in
cash.
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