Corporate Accounting 2, Question Paper of B.Com 4th Semester, Download Previous Years Question Paper 2

Roll No.

Total No. of Questions: 07

B Com. (Sem.-4th)

CORPORATE ACCOUNTING-II

Subject Code: BCOP-401

Paper ID: [B1140]

Time: 3 Hrs.

INSTRUCTIONS TO CANDIDATE:

I. Section A is compulsory. Give answer to each question upto five lines in length. Each question caries two marks.

2. Attempt four questions from Section B. Each question caries 10 marks.

SECTION - A

1) Answer briefly :

a) Purchase consideration

b) AS-14

c) Subsidiary company

d) Minority interest

e) Consolidated balance sheet

f) Preferential payment

g) Tariff and dividend control reserves

h) B-list of contributories

i) Insurance v/s Assurance

j) Mutual Owings

SECTION-B

2) What do you mean by Liquidation of Companies? Explain various modes

of Liquidation of Companies.

3) What do you mean by Holding Company accounts? What are the basic

issues involved while preparing Consolidated Balance Sheet of Holding

companies?

4) Write accounting treatment in the books of Transferor Company and

Transferee Company when the amalgamation is in the nature of merger

and purchase respectively.

5) Sketch the Performa of Revenue Account, Profit & Loss Account and

Balance Sheet of Life insurance Companies with hypothetical figures.

6) A Limited company went into voluntary liquidation with the following

Liabilities :

Trade Creditors                        12,000

Bank Overdraft                       20,000

Capital:

10,000 Preference shares of Rs. 10 each,

Rs. 7 called up (with Prior Rights)                       70,000

10,000 Equity Shares of Rs. 10 each,

Rs. 9 called up                                                     90,000

Less : calls in arrear                                             2,000 8                 8,000

Cash received in anticipation of calls :

On Preference Shares                                           24,000

On Ordinary Shares                                             4,000                    28000

The assets realized Rs. 2,00,000. Expenses of Liquidation amounted to

Rs. 2,000 and liquidator’s remuneration Rs. 3,000. Prepare Liquidator’s

Final account.

7) Following balances have been extracted from the books of a banking

company as on 31st March 2011:

Bad Debts                                                            Rs. 5,00,000

Advances                                                             Rs.74,50,000

Profit before charging bad debts                          Rs. 21,50,000

Required Provision for bad debt                                    Rs. 7,00,000

Provision for taxation to be made                        40% of Net Profit

Show how the above items will appear in the Banking Company’s Profit

& loss account and Balance Sheet