Nalanda Open University 2009 B.Com Final , Bachelor of Commerce, Part-II -Ill (Advanced Accounts) 3rd Part - Question Paper

Final Examination, 2009 Bachelor of Commerce, Part-II Paper-Ill (Advanced Accounts) third Part

(b)    Bonous utilised in reduction of Premium Rs. 6500.

(c)    Interest accured on securities Rs. 19500.    (d) Outstanding Premium Rs. 18000

(e) Claims covered under reinsurance rs. 27000

Pass the necessary Journal entries, giving effect to the above omission and show the funds at the 31st March, 1999 after making the above adjustments.

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On the reconstruction of a Company the following terms were agreed upon:

The shareholder to receive in lieu of their present holding (50,000 share of Rs. 10 each) the following:

(a)    Fully paid equity shares equal to 2/5th of their holding.

(b)    5% Preference shares fully paid, to the extent of l/5th of the above new Equity shares.

(c)    Rs. 60,000, 6% Second debentures

An issue of Rs. 50,000, 5% first debentures was made and allotted, payment for the same having been received in cash. The goodwill, which stood at Rs. 3,00,000 was written down to Rs. 1,50,000. The Plant and Machinary which stood at Rs. 1,00,000 was written down to Rs. 75,000. The Freehold building which stood at Rs. 1,50,000 were written down to Rs. 1,00,000. Make necessary Journal entries in the books of the company on the basis of above transactions.

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Attachment: nalanda-open-university-2009-b-com-40503-1.tif

Earning:   Approval pending.