QP CODE Page No... 1 Second Year B.Com., Degree Examinations August / September 2014 (Directorate of Distance Education) COMMERCE DCB 210: FINAN

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1 QP CODE Page No... 1 Second Year B.Com., Degree Examinations August / September 2014 (Directorate of Distance Education) COMMERCE DCB 210: FINANCIAL ACCOUNTING II Time: 3hrs.] [Max. Marks: 70/80 Instructions to candidates: «záåyðuà½ué ÀÆZÀ ÉUÀ¼ÀÄ: 1. Students who have attended 30 Marks Internal Assessment scheme will have to answer for total of 70 Marks. 30 CAPÀUÀ¼À DAvÀjPÀ ÀzÀÞwAiÀÄrAiÀÄ è gàäªà «záåyðuà¼àä 70 CAPÀUÀ¼À Àæ±ÉßUÀ½UÉ GvÀÛj À ÉÃPÀÄ. 2. Students who have attended 20 Marks Internal Assessment scheme will have to answer for total of 80 Marks. 20 CAPÀUÀ¼À DAvÀjPÀ ÀzÀÞwAiÀÄrAiÀÄ è gàäªà «záåyðuà¼àä 80 CAPÀUÀ¼À Àæ±ÉßUÀ½UÉ GvÀÛj À ÉÃPÀÄ. 3. Note: Q.No. 14 OR 15 in Section D is compulsory for 80 marks Scheme only. ÀÆZÀ É: «sáuà raiàä è À Àæ. ÀASÉå (14 CxÀªÁ 15) 80 CAPÀUÀ¼ÀÄ Àæ±ÉßUÀ½UÉ GvÀÛj ÀĪÀªÀjUÉ PÀqÁØAiÀÄ. SECTION A I. Answer any Two of the following questions. 2 marks each : 5 x 2 = 10 Marks 1. What are debentures briefly explain. 2. What do you mean by Goodwill? 3. What is Absorption and Amalgamation? 4. Define minority interest. SECTION B II. Answer any THREE of the following questions. 10 marks each: 3 x 10 = 30 Marks 5. What do you mean by share capital? Explain different classes of shares? 6. Explain the following terms: 1. Types of under writing of shares 2. Purchase conservation 7. A company offers 5000 shares of Rs 10 each to the public for subscription. The money in payable as follows Rs. 2 on application, Rs 3 on allotment and Rs. 5 on first & final call The company receive application for 6000 shares. Applicants for 4500 shares pay the application money in cash. While the rest pay that money through stock invest. Contd 2

2 QP CODE Page No... 2 The shares are allotted on prorata basis. All allotter pay the allotment money and final call money on due dates. Pass the necessary journal entries. 8. Akash Ltd went into voluntary liquidation. The following are the details. Asset realized 80,000, liquidator remuneration Rs 10,000, unsecured creditors Rs 40,000, preference share capital is Rs 40,000 (4000 share of 10 each) Equity share capital consists 2000 shares of Rs 10 each, Rs 9 called and paid up Rs equity shares of 10 each Rs 5 called and paid up Rs 10,000 you are required to prepare the liquidator statement of account. 9. Ananya ltd has authorized capital of Rs 50,00,000 divided into equity shares of Rs 50 each. The company issued for subscription shares at a premium of Rs 10 each. The entire issue was under written as follows: A = shares (Firm underwriting 5000 shares) B = shares (Firm Underwriting 2000 shares) C = 5000 shares (firm underwriting 5000 shares) Out of the total issue of shares including firm underwriting were subscribed the following were marked forms. A = shares, B = shares, C = 4000 shares. Calculate the liability of each underwriter SECTION C III. Answer any TWO of the following questions. 15 marks each: 2 x 15 = 30 Marks 10. What are objectives of Amalgamation? Explain. 11. The balance sheet of Kumar Co. Ltd as on is as follows. Liabilities 4000 equity shares of 100/ each General reserve P & L A/c Debenture Gratuity fund Creditors Provision for tax Bank loan 4,00,000 80,000 20,000 40,000 70,000 10,000 60,000 8,80,000 Assets Fixed assets Good will Investment Stock Debtors Cash at bank Pre paid expenses Preliminary expenses 1,20,000 1,40,000 14,000 6,000 8,80,000 Contd 3

3 QP CODE Page No... 3 The assets were realized as under: 1. Good will at Rs , debtors considered good except Rs 6000, provision for taxation no longer required. 2. There is a claim of bonus for Rs. 10,000 left unrecorded 3. The normal average profit before tax estimated at Rs of which transfer 20% to general reserve. 4. The rate of dividend is 10% for capitalization purpose assuming that the rate of tax is 50%. Calculate the value of shares under a net asset method and yield method. 12. From the following trial balance of X ltd. prepare the balance sheet as on Debtors & creditors Debtors Creditors B/R & B/P Share capital Secured loan Unsecured loan Debentures Provision for taxation General reserve Land & building Furniture Investments Advance given Cash in hand Cash at bank Closing stock Plant & machinery Capital work in progress P & L A/c Total From the following balance sheet of A & B ltd. as on prepare consolidated balance sheet. Liabilities Share capital shares Rs 100 each Reserve fund P & L A/c Debentures Creditors A Ltd R 2,50,000 50,000 50,000 50,000 B Ltd R 25,000 25,000 50,000 Assets Sundry Assets Investment in S Ltd 750 shares A Ltd R 4,25,000 75,000 B Ltd R 5,00,000 5,00,000 A ltd acquired the shares Contd 4

4 QP CODE Page No... 4 SECTION D Note: Compulsory for 80 marks scheme only IV. Answer any ONE of the following questions: 1 x 10 = 10 Marks 14. Write a note on the following 1. Reconstruction of companies 2. What do you mean by calls on shares 15. The balance sheet of Girija ltd. as on is as follows. Liabilities Amount Assets Amount Share capital % p/s of Rs 10 each equity shares of Rs 5 each 14% debentures Creditors 3,00,000 5,00,000 3,00,000 Good will Land Machinery Tools Stock Debtors Cash P & L A/c 4,00,000 2,50,000 65,000 10,000 1,75,000 13,00,000 13,00,000 On this date it was decided to reconstruct the company and the following scheme of reconstruction was agreed upon. 1. The creditors to accept 14% debentures to the extent of half of their dues and the balance to be paid after six months. 2. The preference shares to be reduced to shares of Rs 5 each. 3. Equity shares to be reduced to share of Rs 1 each. 4. The debit balance of profit & loss account and good will to be written off. 5. Land to be reduced by Rs 79,000, machinery by Rs 40,000 and tools by Rs 48, R.B.D to the extent of Rs 8,000 is to be created. Give journal entries, prepare Reconstruction account and the Reconstruction balance sheet. * * * * * * * Contd 5

5 QP CODE Page No... 5 PÀ ÀßqÀ DªÀÈwÛ «sáuà J I. AiÀiÁªÀÅzÁzÀgÀÆ JgÀqÀÄ Àæ±ÉßUÀ½UÉ GvÀÛj¹j. và Á 5 CAPÀUÀ¼ÀÄ: 5 x 2 = 10 Marks 1. Á ÀvÀæUÀ¼ÀÄ JAzÀgÉ AiÀiÁªÀŪÀÅ? ÀAQë ÀÛªÁV «ªÀj¹. 2. ÀÄ ÁªÀÄ JAzÀgÉà ÀÄ? 3.»Ãj PÉƼÀÄîªÀÅzÀÄ ªÀÄvÀÄÛ À«Ää À CAzÀgÉ K ÀÄ? 4. C à ÀASÁåvÀ ±ÉÃgÀÄzÁgÀgÀ C ÀQÛ ªÁåSÁå ¹ «sáuà II. AiÀiÁªÀÅzÁzÀgÀÆ ªÀÄÆgÀÄ Àæ±ÉßUÀ½UÉ GvÀÛj¹j. và Á 10 CAPÀUÀ¼ÀÄ: 5. ±ÉÃgÀÄ AqÀªÁ¼À JAzÀgÉà ÀÄ? ««zs À jãwaiàä ±ÉÃgÀÄUÀ¼À ÀÄß «ªÀj¹. 6. F PɼÀPÀAqÀ ÀzÀUÀ¼À ÀÄß «ªÀj¹. C. ÀªÀÄÆ üãpàgàt «zs ÀUÀ¼ÀÄ D. PÉƼÀÄîªÀ É ÉAiÀÄ UÉ 3 x 10 = 30 Marks 7. MAzÀÄ PÀA À AiÀÄÄ ÁªÀðd PÀjUÉ 10 gàæ ªÀÄÄR É ÉAiÀÄ 5000 ±ÉÃgÀÄvÀ¼À ÀÄß ªÀAwUÉUÉ PÉüÀÄvÀÛzÉ. ºÀtªÀ ÀÄß F PɼÀPÀAqÀAvÉ PÉÆqÀ ÉÃPÁUÀÄvÀÛzÉ. Cfð ÀªÀÄAiÀÄzÀ è gàæ 2, ºÀAaPÉ ÀªÀÄAiÀÄzÀ è gàæ 3 ªÀÄvÀÄÛ CAwªÀÄ PÀgÀ ÀªÀÄAiÀÄzÀ è gàæ 5. PÀA À AiÀÄÄ 6000 ±ÉÃgÀÄUÀ½UÉ CfðUÀ¼À ÀÄß ¹éÃPÀj ÀÄvÀÛzÉ 4500 ±ÉÃgÀÄUÀ¼ÀÄ CfðzÁgÀgÀÄ CfðAiÀÄ ªÉÆvÀÛªÀ ÀÄß ÀUÀzÀÄ gàæ ÀzÀ è PÉÆqÀÄvÁÛgÉ. G½zÀªÀgÀÄ ÁÖPï ºÀÆrPÉAiÀÄ ªÀÄÄSÁAvÀgÀ ÃqÀÄvÁÛgÉ. ±ÉÃgÀÄUÀ¼À ÀÄß DzÀåvÁ DzsÁgÀzÀ ªÉÄÃ É ºÀAZÀ ÁUÀÄvÀÛzÉ. J Áè ºÀAaPÉ ºÀt ªÀÄvÀÄÛ PÀgÉ ºÀtªÀ ÀÄß ÀjAiÀiÁzÀ ÀªÀÄAiÀÄzÀ è PÉÆqÀÄvÁÛgÉ. EzÀ ÀÄß géæãdä ÀÄ ÀÛPÀzÀ è gé Äj. 8. DPÁ±ï AiÀÄ«ÄvÀ ÀéAiÀÄA ÉæÃjvÀªÁV ªÀÄÄZÀÑ àqàäwûzàäý F PɼÀPÀAqÀ «ªÀgÀUÀ¼À ÀÄß ÃqÀ ÁUÀÄwÛzÉ D¹ÛUÀ¼À ªÀiÁgÁl AzÀ gàæ 80000, QéÃqÉÃlgï ÀA sáªà É gàæ 10000, s ÀzÀ ævé E èzà Á UÀ¼ÀÄ gàæ 40000, CzÀåvÁ ±ÉÃgÀÄ AqÀªÁ¼À gàæ (10 gàæ ªÀÄÄR É ÉAiÀÄ 4000 ±ÉÃgÀÄUÀ¼ÀÄ) FQén ±ÉÃgÀÄ AqÀªÁ¼À F PɼÀPÀAqÀAvÉ EnÖgÀÄvÀÛzÉ. 10 gàæ ªÀÄÄR É ÉAiÀÄ 2000 ±ÉÃgÀÄUÀ¼ÀÄ, gàæ 9 PÀgÉ ªÀiÁqÀ ÁVzÉ ªÀÄvÀÄÛ gàæ A gàävàûzé., 10 gàæ ªÀÄÄR É ÉAiÀÄ 4000 ±ÉÃgÀÄUÀ¼ÀÄ gàæ 5 PÀgÉAiÀÄ ÁVzÉ ªÀÄvÀÄÛ gàæ A zé. QéqÉÃlgï ÉPÀÌzÀ ÀnÖAiÀÄ ÀÄß vàaiàiáj¹. 9. C À Àå AiÀÄ«ÄvÀ PÀA À AiÀÄÄ gàæ 50,00,000 zs ÀðjvÀ AqÀªÁ¼À ºÉÆA zàäý EzÀgÀ è FQén ±ÉÃgÀÄUÀ½zÀÄÝ EªÀÅUÀ¼À ªÀiË å gàæ 50/ Àæw ±ÉÃjUÉ PÀA À AiÀÄÄ FUÀ ±ÉÃgÀÄUÀ¼À ÀÄß gàæ 10 æ«äaiàäaué «vàj¹zé. F J Áè «vàgàuéaiàä ÀÄß F PɼÀPÀAqÀAvÉ CAqÀgïgÉÊnAUï ªÀiÁqÀ ÁVzÉ Contd 6

6 QP CODE Page No... 6 A = ±ÉÃgÀÄUÀ¼ÀÄ ( s ÀªÀiïð CAqÀgï géênauï 5000 ±ÉÃgÀÄUÀ¼ÀÄ) B = ±ÉÃgÀÄUÀ¼ÀÄ ( s ÀªÀiïð CAqÀgï géênauï 2000 ±ÉÃgÀÄUÀ¼ÀÄ) C = 5000 ±ÉÃgÀÄUÀ¼ÀÄ ( s ÀªÀiïð CAqÀgï géênauï 5000 ±ÉÃgÀÄUÀ¼ÀÄ) «vàgàuéaiàiázà MlÄÖ ±ÉÃgÀÄUÀ¼À è ±ÉÃgÀÄUÀ¼ÀÄ (EzÀgÀ è s ÀªÀiïð CAqÀgï géênauï ÉÃjgÀÄvÀÛzÉ) ÃrPÉAiÀiÁVªÉ. ªÀÄvÀÄÛ F PɼÀV ÀªÀÅUÀ¼ÀÄ UÀÄgÀÄvÀÄ ªÀiÁrzÀªÀÅUÀ¼ÁVgÀÄvÀÛzÉ. A = ±ÉÃgÀÄUÀ¼ÀÄ B = ±ÉÃgÀÄUÀ¼ÀÄ C = 4000 ±ÉÃgÀÄUÀ¼ÀÄ. CAqÀgï géênauï gàªàgà ºÉÆuÉUÁjPÉAiÀÄ ÀÄß ÉPÀ̺ÁQj. «sáuà ¹ III. AiÀiÁªÀÅzÁzÀgÀÆ JgÀqÀÄ Àæ±ÉßUÀ½UÉ GvÀÛj¹. và Á 15 CAPÀUÀ¼ÀÄ: 2 x 15 = 30 Marks 10. PÀA À AiÀÄ À«Ää ÀzÀ GzÉÝñÀUÀ¼ÀÄ AiÀiÁªÀŪÀÅ? «ªÀj¹. À 11. PÀĪÀiÁgï PÀA À AiÀÄ CqÁªÉ ÀwæPÉ PÉÌ F PɼÀPÀAqÀAwzÉ. gàæ gàæ ±ÉÃgÀÄ AqÀªÁ¼À 4000 ÁªÀiÁ Àå ±ÉÃgÀÄUÀ¼ÀÄ gàæ 100 gàavé 4,00,000 ¹ÜgÀ D¹ÛUÀ¼ÀÄ ÀÄ ÁªÀÄ ºÀÆrPÉUÀ¼ÀÄ 1,20,000 ÁªÀiÁ Àå ü 80,000 ÀgÀPÀÄ ² ÄÌ 1,40,000 Á s ªÀÄvÀÄÛ ÀµÀÖ SÁvÉ 20,000 IÄtÂUÀ¼ÀÄ Á ÀvÀæUÀ¼ÀÄ ÁåAPÀÄ ÀUÀzÀÄ UÁæZÀÄn ü 4,00,000 ªÀÄÄAUÀqÀ ÁªÀw ªÉZÀÑ 14,000 zs À UÀ¼ÀÄ véjué «Äà À Ä ÁåAQ À Á 70,000 10,000 60,000 ÀA ÁÜ ÀPÀ ªÉZÀÑ 6,000 8,80,000 8,80,000 PɼÀV ÀAvÉ D¹ÛUÀ¼À ÀÄß ªÀiË åpàj À ÁVzÉ. 1) ÀÄ ÁªÀÄ , gàæ 6000 IÄ UÀ¼À ÀÄß M¼ÉîAiÀÄzɪÀÄzÀÄ ÀjUÀt À Á ÄvÀÄ. ÃWÀðDªÀ üaiàä è AiÀiÁªÀÅzÉà véjué EJGªÀÅ è. 2) gàæ ÉÆà À ï zár Áw ÄgÀĪÀÅ è. 3) véjuévavà ªÀÄÄAZÉ ÀgÁ Àj Á s À gàæ , EzÀgÀ è ±ÉÃPÀqÀ 20 gàµàö ÀÄß ÁªÀiÁ Àå üué ªÀvÁð Ä À Á ÄvÀÄ. 4) AlªÁ½ÃPÁgÀtPÁÌV ±ÉÃPÀqÀ 10% gàµàäö Á sáa±àªà ÀÄß véué qà Á ÄvÀÄ. ªÀÄvÀÄÛ véjuégà ±ÉÃPÀqÀ 50% gàµéöazàä sá«à Á ÄvÀÄ. ±ÉÃj À É ÉAiÀÄ ß F PÀgÀ¼ÀV À ÀzÀÞwAiÀÄ è PÀAqÀÄ»r Äj. 1. ªÀé¼À D¹Û ÀzÀÞw 2. Àæw À ÀzÀÞw. Contd 7

7 QP CODE Page No X «ÄmÉqï À F PɼÀPÀAqÀ vá¼é ÀnÖ ÄAzÀ gÀ CAvÀå ªÀµÀðzÀ CqÁªÉ ÀwæPÉAiÀÄ ÀÄß vàaiàiáj¹. IÄtÂUÀ¼ÀÄ (gàæ) zsà UÀ¼ÀÄ (gàæ) IÄtÂUÀ¼ÀÄ ªÀÄvÀÄÛ zsà UÀ¼ÀÄ gà ÉÃPÁzÀ ªÀÄvÀÄÛ PÉÆqÀ ÉÃPÁzÀ ºÀÄArUÀ¼ÀÄ ±ÉÃgÀÄ AqÀªÁ¼À DzsÁgÀ À»vÀ Á DzsÁgÀ gà»và Á Á ÀvÀæUÀ¼ÀÄ véjué «Äà À Ä ÁªÀiÁ Àå «Äà À Ä s ÀÆ«Ä ªÀÄvÀÄÛ PÀlÖqÀUÀ¼ÀÄ ÃoÉÆà ÀPÀgÀtUÀ¼ÀÄ ºÀÆrPÉUÀ¼ÀÄ ªÀÄÄAUÀqÀ PÉÆnÖzÀÄÝ PÉÊAiÀÄ è ÀUÀzÀÄ ÁåAQ À è ÀUÀzÀÄ CawªÀÄ ÀgÀPÀÄ zá ÁÛ ÀÄ AiÀÄAvÀæ ªÀÄvÀÄÛ ÁܪÀgÀ ÀæUÀwAiÀÄ ègàäªà AqÀªÁ¼À ±Á» PÉ À MlÄÖ A ªÀÄvÀÄÛ B «ÄmÉqïUÀ¼À CqsÁªÉ ÀwæPÉUÀ¼ÀÄ ÁAPÀ gàazàä F PɼÀPÀAqÀAwzÉ EzÀPÉÌ ÀA A üã¹zàavé PÉÆæÃrüPÀÈvÀ CqsÁªÉ ÀwæPÉAiÀÄ ÀÄß vàaiàiáj¹. ºÉÆuÉUÁjPÉUÀ¼ÀÄ A Ltd (gàæ) B Ltd (gàæ) D¹ÛUÀ¼ÀÄ A Ltd (gàæ) B Ltd (gàæ) ÁªÀiÁ Àå ±ÉÃgÀÄUÀ Ä gàæ EvÀgÀ D¹ÛUÀ¼ÀÄ 100 gàavé PÁ ÄÝj¹zÀ S ltd AiÀÄ ègàäªà ºÀÆrPÉ ±ÉÃgÀÄUÀ¼ÀÄ Á s ÀµÀÖSÁvÉ Á ÀvÀæUÀ¼ÀÄ zs ÀtÂUÀ¼ÀÄ ÁAPÀ gàazàä A PÀA À B PÀªÀÄ À AiÀÄÄ DPÀæ«Ä¹PÉÆArzÉ. Contd 8

8 QP CODE Page No... 8 «sáuà r ÀÆZÀ ÉUÀ¼ÀÄ: 80 CAPÀUÀ¼À Àæ±Éß ÀwæPÉUÉ EgÀĪÀ PÀqÁØAiÀÄ Àæ±ÉßUÀ¼ÀÄ IV. AiÀiÁªÀÅzÁzÀgÀÆ MAzÀÄ Àæ±ÉßUÉ GvÀÛj¹: 1 x 10 = 10 Marks 14. F PɼÀPÀAqÀªÀÅUÀ½UÉ n Ààt gé Äj. 1. PÀA À UÀ¼À ÀÄ ÀBgÀZÀ É 2. ±ÉÃgÀÄUÀ¼À ªÉÄà À PÀgÉ JAzÀgÉà ÀÄ? 15. VjeÁ PÀA AiÀÄ«ÄvÀ gàªàgà CqsÁªÉ ÀwæPÉ ÁAPÀ gàawzé. ºÉÆuÉUÁjPÉUÀ¼ÀÄ gàæ D¹ÛUÀ¼ÀÄ gàæ ±ÉÃgÀÄ AqÀªÁ¼À: ±ÉÃPÀqÀ 8 Áæ±À ÀÛ ±ÉÃgÀÄUÀ¼ÀÄ gàæ 10 gàavé ÀÄ ÁªÀÄ ±ÁªÀiÁ Àå ±ÉÃgÀÄUÀ¼ÀÄ gàæ 5 gàavé sàæ«ä À 14% Á ÀvÀæUÀ¼ÀÄ AiÀÄAvÀæUÀ¼ÀÄ zsà UÀ¼ÀÄ læ ïì ÀgÀPÀÄUÀ¼ÀÄ IÄtÂUÀ¼ÀÄ ÀUÀzÀÄ Á s ÀµÀ PÁvÉ CzÉà ÁAPÀzÀAzÀÄ PÀA À AiÀÄ ÀÄß ÀÄ ÀBgÀZÀ É ªÀiÁqÀ Ä zs Àðj À Á ÄvÀÄ. ÀÄ ÀB JZÀ É ÀzÀÞwAiÀÄ è M ÀàAzÀªÁVzÉ. 1. ±ÉPÀqÁ 14 gà Á ÀvÀæUÀ¼À ÀÄß zs À UÀ½UÉ Czs ÀðzÀµÀÄÖ ÁQAiÀÄ ÀÄß ÃqÀ Á ÄvÀÄ ªÀÄvÀÄÛ G½zÀ ÁQAiÀÄ ÀÄß DgÀÄ wauà¼à ÀAvÀgÀ PÉÆqÀ ÁUÀĪÀÅzÀÄ. 2. Áæ±À ÀÛöå ±ÉÃgÀÄUÀ¼À ÀÄß và Á 5 gàæ ÉÆÃvÉ PÀrªÉÄ ªÀiÁqÀ ÁUÀĪÀÅzÀÄ. 3. ÁªÀiÁ Àå ±ÉÃgÀÄUÀ¼À ÀÄß và Á 1 gàæ ÀAvÉ PÀrªÉÄ ªÀiÁqÀĪÀÅzÀÄ. 4. Á s À ªÀÄvÀÄÛ ÀµÀ SÁvÉ ªÀÄvÀÄÛ ÀÄ ÁªÀĪÀ ÀÄß qàäªàåzàä. 5. sàæ«ä gàæ PÉÌE½ ÀĪÀÅzÀÄ AiÀÄAvÀæUÀ¼ÀÄ gàæ ªÀÄvÀÄÛ læ ïì gàæ R.B,D AiÀÄ ÀÄß gàæ 8000 PÉÌ ºÉaÑ ÀĪÀÅzÀÄ. ÀÄ ÀB ªÀiÁðtzÀ géæãdä zár É gézàä ÀAvÀgÀ CqÁªÉ ÀwæPÉAiÀÄ ÀÄß vàaiàiáj¹. * * * * * * *